Viper Picks Up Oil Interests from Warwick, GRP for $1B

Warwick Capital Partners and GRP Energy Capital agreed Tuesday to sell mineral and royalty interests in various oil and gas basins to Midland-based Viper Energy Partners, a subsidiary of Diamondback Energy Inc., for $1 billion.

Viper is issuing 9.02 million shares as part of the deal. The company expects to finance the $750 million cash portion with money on hand, borrowings under its credit facility and up to $200 million of committed equity from Diamondback as well as proceeds from one or more capital markets transactions, including a potential bond offering subject to market conditions and other factors.