Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Announces Its Fourth Quarter Cash Distribution and Schedu...
February 06 2017 - 4:01PM
Viper Energy Partners LP (NASDAQ:VNOM) (“Viper”), a subsidiary of
Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today
announced its fourth quarter 2016 cash distribution. Viper today
also announced that it plans to release fourth quarter 2016
financial results on February 14, 2017 after the market closes.
Viper Cash DistributionThe
Board of Directors of Viper’s general partner has declared a cash
distribution of $0.258 per common unit for the three-month period
ended December 31, 2016, payable on February 24, 2017 to common
unitholders of record as of the close of business on February 17,
2017.
The fourth quarter 2016 cash distribution
increased 25% to $0.258 per unit from $0.207 per unit in the third
quarter of 2016. When annualized, this distribution represents an
approximate 6% yield based on the closing price for Viper’s common
units on February 2, 2017.
Conference Call In connection
with the earnings release, Viper will host a conference call and
webcast for investors and analysts to discuss its results for the
fourth quarter of 2016 on Wednesday, February 15, 2017 at 10:00
a.m. CT. Participants should call (844) 400-1537 (United
States/Canada) or (703) 326-5198 (International) and use the
confirmation code 67368952. A telephonic replay will be available
from 1:00 p.m. CT on Wednesday, February 15, 2017 through
Wednesday, February 22, 2017 at 1:00 p.m. CT. To access the replay,
call (855) 859-2056 (United States/Canada) or
(404) 537-3406 (International) and enter confirmation code
67368952. A live broadcast of the earnings conference call will
also be available via the internet at www.viperenergy.com under the
“Investor Relations” section of the site. A replay will also be
available on the website following the call.
This release serves as qualified notice to
nominees as provided for under Treasury Regulation Section
1.1446-4(b)(4) and (d). Please note that 100 percent of Viper’s
distributions to foreign investors is attributable to income that
is effectively connected with a United States trade or business.
Accordingly, all of Viper’s distributions to foreign investors are
subject to federal income tax withholding at the highest effective
tax rate for individuals or corporations, as applicable. Nominees,
and not Viper, are treated as withholding agents responsible for
withholding distributions received by them on behalf of foreign
investors.
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.
About Diamondback Energy, Inc.
Diamondback is an independent oil and natural
gas company headquartered in Midland, Texas focused on the
acquisition, development, exploration and exploitation of
unconventional, onshore oil and natural gas reserves in the Permian
Basin in West Texas. Diamondback’s activities are primarily focused
on the horizontal exploitation of multiple intervals within the
Wolfcamp, Spraberry, Clearfork, Bone Springs and Cline
formations.
Investor Contact:
Adam Lawlis
+1 432.221.7467
alawlis@viperenergy.com
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