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Diamondback Energy, Inc. Enters Definitive Purchase Agreement with Viper Energy, Inc.
Contract Type
agreement
MidlandEnergySustainabilityOil And GasNatural ResourcesDescription
Diamondback Energy, Inc. has announced a definitive purchase agreement with Viper Energy, Inc. The transaction involves the sale of certain mineral and royalty interests from Diamondback subsidiaries to Viper for $1 billion in cash and approximately 69.6 million units of Viper’s operating subsidiary. This agreement is a major milestone in Diamondback's corporate development objectives related to the Endeavor transaction.