Northland Capital Markets announced today that it has acted as Co-Manager for an up-sized offering of $151.5 million of Common Units, representing limited partner interests, for Viper Energy Partners LP (“Viper” or the “Company”). Viper is a limited partnership formed by Diamondback to own, acquire and exploit oil and natural gas properties in North America.
Viper priced the sale of 9,775,000 common units to the public at $15.50 per unit for gross proceeds of approximately $151.5 million, which includes 1,275,000 units from the fully exercised over-allotment option. The Company intends to use the net proceeds to repay outstanding borrowings under the Company’s revolving credit facility. The remaining net proceeds will be used to fund for general partnership purposes, which may include additional acquisitions.
For contacts and more information: Press Release Viper Energy 1/25/17