Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Prices Upsized Public Offering of Common Units
January 19 2017 - 8:36AM
Viper Energy Partners LP (NASDAQ:VNOM) (“Viper”), a subsidiary of
Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), announced
today the pricing of Viper’s upsized public offering of
8,500,000 common units representing limited partner interests.
The total gross proceeds of the offering (before underwriters’
discounts and commissions and estimated offering expenses) will be
approximately $131.75 million. The underwriters have a 30-day
option to purchase up to an additional 1,275,000 common units
from Viper.
The offering is expected to close on January 24,
2017, subject to customary closing conditions. Viper intends
to use the net proceeds from the offering, including any net
proceeds from the underwriters’ exercise of their option to
purchase additional common units, to repay the outstanding
borrowings under Viper’s revolving credit facility and for general
partnership purposes, which may include additional
acquisitions.
Credit Suisse, Citigroup and UBS Investment Bank
are acting as joint book-running managers for the offering. When
available, a copy of the final prospectus for the offering may be
obtained from:
Credit Suisse
Securities (USA) LLC |
Citigroup
Global Markets Inc. |
Attention:
Prospectus Department |
c/o
Broadridge Financial Solutions |
Eleven
Madison Avenue, Level 1B |
1155 Long
Island Avenue |
New York, NY
10010 |
Edgewood,
NY 11717 |
Telephone:
1-800-221-1037 |
Telephone: (800) 831-9146 |
Email: newyork.prospectus@creditsuisse.com |
|
|
|
UBS
Securities LLC |
|
Attn:
Prospectus Dept. |
|
1285 Avenue
of the Americas |
|
New York, NY
10019 |
|
Telephone:
(888) 827-7275 |
|
You may also obtain a copy of the final prospectus
for free by visiting the Securities and Exchange Commission website
at http://www.sec.gov.
The common units will be issued and sold pursuant
to an effective shelf registration statement on Form S-3 previously
filed with the Securities and Exchange Commission.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy the common units, nor
shall there be any sale of the common units in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. This
offering may only be made by means of a prospectus supplement and
related base prospectus.
About Viper Energy Partners LP Viper is a
limited partnership formed by Diamondback to own, acquire and
exploit oil and natural gas properties in North America, with
a focus on oil-weighted basins, primarily the Permian Basin in West
Texas.
Forward-Looking StatementsThis press release
contains forward-looking statements within the meaning of the
federal securities laws. All statements, other than historical
facts, that address activities that Viper assumes, plans, expects,
believes, intends or anticipates (and other similar expressions)
will, should or may occur in the future are forward-looking
statements. The forward-looking statements are based on
management’s current beliefs, based on currently available
information, as to the outcome and timing of future events. These
forward-looking statements involve certain risks and uncertainties
that could cause the results to differ materially from those
expected by the management of Viper. Information concerning these
risks and other factors can be found in Viper’s filings with the
Securities and Exchange Commission, including its Forms 10-K, 10-Q
and 8-K and any amendments thereto, which can be obtained free of
charge on the Securities and Exchange Commission’s web site at
http://www.sec.gov. Viper undertakes no obligation to update or
revise any forward-looking statement.
Investor Contact:
Adam Lawlis
+1 432.221.7467
alawlis@diamondbackenergy.com
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