Diamondback’s Viper Strikes Deal with Tumbleweed for Permian Assets

By Carolyn Davis

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Published in: Daily Gas Price Index Filed under:

Permian Basin heavyweight Diamondback Energy Inc. is adding 3,727 mineral and royalty acres to its portfolio in transactions estimated to be worth more than $1 billion.

NGI's Shale Permian Price chart

Viper Energy Partners LP, a Diamondback subsidiary, agreed to buy the net royalty acres (NRA) in the Midland and Delaware sub-basins from private equity-sponsored Tumbleweed Royalty.

Diamondback’s publicly traded limited partnership was formed to own and acquire oil and gas mineral and royalty interests, primarily in the Permian.

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Carolyn Davis

Carolyn Davis joined the editorial staff of NGI in Houston in May of 2000. Prior to that, she covered regulatory issues for environmental and occupational safety and health publications. She also has worked as a reporter for several daily newspapers in Texas, including the Waco Tribune-Herald, the Temple Daily Telegram and the Killeen Daily Herald. She attended Texas A&M University and received a Bachelor of Arts degree in journalism from the University of Houston.