Akin Advises Viper Energy in $1B Acquisition of Permian Basin Mineral and Royalty Interests
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(Houston) – Akin has represented Viper Energy Partners LP, a subsidiary of Diamondback Energy Inc., in its $1 billion acquisition, from Warwick Capital Partners and GRP Energy Capital, of mineral and royalty interests in the Permian Basin.
The acquired interests will be exchanged for approximately 9.02 million Viper common units and $750 million of cash, subject to customary adjustments. The latter portion is expected to be funded through a combination of cash on hand, borrowings under Viper’s credit facility, and up to $200 million of committed Diamondback equity, as well as proceeds from one or more capital markets transactions.
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The Akin team advising Viper was led by U.S. oil & gas practice leader Stephen Boone, with support from fellow corporate partner John Goodgame; tax partners Alison Chen and Julia Pashin; and corporate counsel Dasha Hodge. The team also included corporate senior counsel Irina Maistrenko and associates Madeline Sullivan and Thomas Shattuck; tax counsel Aaron Vera; and environment & natural resources practice head David Quigley and senior counsel Andrew Oelz.
Akin is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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