U.S.-based oil company Viper Energy Partners LP, subsidiary of Diamondback Energy Inc, has priced its $304 million underwritten public offering of its common shares.
Viper Energy will issue 9.5 million common shares at a public offering price of $32 per share. In addition, the underwriters have been granted 30-day option to buy up to an extra 1.4 million common shares.
Viper will use the new capital to acquire additional common units, repay a portion of the outstanding borrowings under its revolving credit facility and for general partnership purposes, which may include additional acquisitions.
The offering will be completed on March 1, 2019, subject to customary closing conditions.