Viper Energy Partners LP, an oil and gas E&P in the Permian Basin spun out of Diamondback Energy, announced terms for its IPO on Tuesday. The Midland, TX-based company plans to raise $100 million by offering 5.0 million shares at a price range of $19 to $21. At the midpoint of the proposed range, it would command a fully diluted market value of $1.5 billion.
Viper Energy Partners LP, which was formed in September 2013 and booked $31 million in royalty interest for the six months ended March 31, 2014, plans to list on the NASDAQ under the symbol VNOM. Viper Energy initially filed confidentially on March 21, 2014. Barclays, Credit Suisse and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price the week of June 16, 2014.
