Porter Hedges Represents Viper Energy Partners in Sale of certain Eagle Ford Overriding Royalty Interests
Porter Hedges represented Viper Energy Partners LLC, a subsidiary of Viper Energy Partners LP (NASDAQ: VNOM) (collectively, “Viper”), in the divestiture of Viper’s position in the Eagle Ford Shale, consisting of 681 net royalty acres of third party operated acreage for an aggregate net sales price of $53.8 million, including certain customary closing adjustments. The transaction closed on December 29, 2022.
Viper is a publicly traded Delaware limited partnership formed by Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”) to own and acquire mineral and royalty interests in oil and natural gas properties primarily in the Permian Basin. Diamondback is an independent oil and natural gas company focused on the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas.