Viper Energy Closes $337M Riverbend Mineral Rights Deal
Viper Energy finalized its acquisition of Riverbend Oil & Gas IX, paying $337M in cash and 3.7M shares for the mineral and royalty interests.
Viper Energy, Inc. (NASDAQ: VNOM), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG), on Tuesday completed its acquisition of all equity interests in Riverbend Oil & Gas IX, L.L.C., a Midland, Texas-based deal that transfers a portfolio of mineral and royalty interests to the publicly traded royalty company. The total consideration included $337 million in cash and approximately 3.7 million shares of Viper's Class A common stock, subject to customary post-closing adjustments.
Viper funded the cash portion of the transaction through a mix of cash on hand and draws on its existing credit facility. The sellers were Riverbend Oil & Gas IX (AIV), L.L.C. and ROG IX, L.L.C., which together held the equity stake in the acquired entity.
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The closing marks a strategic expansion of Viper's mineral and royalty footprint, a business model that generates revenue from oil and gas production on owned acreage without bearing direct drilling costs. Royalty-focused companies like Viper have drawn investor interest in recent years precisely because this structure limits capital expenditure exposure while still capturing commodity upside.
The deal adds to a broader consolidation trend in the Permian Basin mineral rights space, where larger operators are increasingly acquiring royalty positions to lock in long-term cash flow streams. Diamondback, which controls Viper, is itself one of the most active acquirers in the Permian, making the Riverbend deal consistent with the parent company's growth-through-acquisition playbook.
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