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.
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.
