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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Fri., Sep. 19, 7:48 AM

Slide #18. Viper Energy Partners LP Secondary Offering

Company: Viper Energy Partners LP (NASDAQ:VNOM)
Date announced: 9/15/2014
Shares Offered: 3,500,000
Date of Pricing: 9/15/2014
Price Per Share: $28.50
Secondary Offering Details: Viper Energy Partners LP (Nasdaq:VNOM) ("Viper"), a subsidiary of Diamondback Energy, Inc. (Nasdaq:FANG) ("Diamondback"), and Diamondback announced today that Viper has commenced an underwritten public offering of 3,500,000 common units representing limited partner interests pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the "SEC"). Viper anticipates granting the underwriters a 30-day option to purchase up to an additional 525,000 common units at the public offering price to cover over-allotments. Viper intends to use the net proceeds from the offering, including the proceeds from any exercise of the underwriters' option to purchase additional common units, to repay borrowings under its credit agreement and for general partnership purposes, primarily to fund pending and future acquisitions.

Viper Energy Partners is a Delaware limited partnership formed to own, acquire and exploit oil and natural gas properties in North America. Co.'s primary business objective is to provide an attractive return to unitholders by focusing on business results, maximizing distributions through organic growth and pursuing accretive growth opportunities through acquisitions of mineral interests from Diamondback Energy, Inc. and from third parties. Co.'s initial assets consist of mineral interests in oil and natural gas properties in the Permian Basin in West Texas, substantially all of which are leased to working interest owners who bear the costs of operation and development.
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Company Name:  Viper Energy Partners LP
Website:  www.viperenergy.com
Sector:  Oil & Gas Exploration & Production
 

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September 19, 2014    7:48 AM Eastern
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