Diamondback spinoff Viper Energy Partners sets terms for $100M IPO

Viper Energy Partners, the oil and gas E&P in the Permian Basin spun out of Diamondback Energy (FANG), says plans to raise $100M by offering 5M shares at a price range of $19-$21; the IPO is expected to price during the week of June 16.

At the midpoint of the proposed range, Viper would command a fully diluted market value of $1.5B.

Viper, which booked $31M in royalty interest for the six months ended March 31, plans to list on Nasdaq under the ticker VNOM.

FANG +1.2% premarket.

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