Latham & Watkins Advises Diamondback Energy on Drop Down to Viper Energy

Viper Energy, Inc. (Nasdaq: VNOM), a subsidiary of Diamondback Energy, Inc. (Nasdaq: FANG), has announced a definitive agreement to acquire certain mineral and royalty interests representing approximately 933 net royalty acres from Diamondback and related subsidiaries in exchange for approximately 3.7 million units in Viper’s operating subsidiary, along with an accompanying equal amount of Viper Class B common stock.

Latham & Watkins LLP advised Diamondback in the transaction with a corporate deal team led by Houston partners Chris Heasley and Ryan Lynch, and New York partner Zach Podolsky, with associates Jay Harper, Brock Jones, Tanner Jarrell, Josh Horn, Morgen Seim, Victoria Wade, and Graysen Mechler. Advice was also provided on tax matters by Houston partner Tim Fenn, with associate Christopher Garza.