Diamondback Energy Subsidiary, Viper Energy, To Acquire Certain Mineral And Royalty Interest-Owning Subsidiaries Of Tumbleweed Royalty In Exchange For $461.0M Of Cash And Approximately 10.1 Million OpCo Units
Portfolio Pulse from Benzinga Newsdesk
Viper Energy, a subsidiary of Diamondback Energy, is set to acquire mineral and royalty interest-owning subsidiaries of Tumbleweed Royalty for $461 million in cash and approximately 10.1 million OpCo units.
September 11, 2024 | 8:08 pm
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POSITIVE IMPACT
Diamondback Energy's subsidiary, Viper Energy, is acquiring Tumbleweed Royalty's subsidiaries, which could enhance Diamondback's asset base and revenue potential.
The acquisition by Viper Energy, a subsidiary of Diamondback Energy, is likely to enhance Diamondback's asset base and revenue potential, positively impacting its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Viper Energy, a subsidiary of Diamondback Energy, is acquiring Tumbleweed Royalty's subsidiaries, which could strengthen Viper's position in the energy sector.
Viper Energy's acquisition of Tumbleweed Royalty's subsidiaries is directly related to VNOM, likely strengthening its market position and positively impacting its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90