Akin Gump Advises Viper Energy Partners in $300 Million Public Offering

(Dallas) – On March 1, 2019, Viper Energy Partners LP, a subsidiary of Diamondback Energy, Inc., completed an underwritten public offering of 10,925,000 common units, which included 1,425,000 common units issued pursuant to an option to purchase additional common units granted to the underwriters, at a public offering price of $32 per unit. A team from Akin Gump advised Viper in the offering, which represented a 1,500,000 unit upsize to the originally proposed 8,000,000 offering of common units.

The total gross proceeds of the offering (before underwriters’ discounts and commissions and estimated offering expenses) were approximately $340 million.

The Akin Gump team advising Viper in the matter was led by corporate partner Seth Molay and included senior counsel Irina Maistrenko and associates Justin Wood and Morgan Francy; energy counsel Chase Armbrust; and tax partner Alison Chen and counsel Brandon Morris.

Akin Gump Strauss Hauer & Feld LLP 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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