Viper Energy, Inc., a Subsidiary of Diamondback Energy, Inc., Has Completed Its Acquisition of Sitio Royalties Corp. In All-Equity Transaction

Core Viewpoint - Viper Energy, Inc. has successfully completed the acquisition of Sitio Royalties Corp. in an all-equity transaction, marking a significant milestone in the mineral and royalty industry, enhancing its position in the North American shale market [1][2]. Revised Third Quarter 2025 Guidance - The merger creates a leader in size, scale, float, liquidity, and access to investment-grade capital in the fragmented minerals market, while Viper maintains a unique relationship with its parent company, Diamondback Energy [2]. - Pro forma Viper is positioned for sustained growth with no capital expenditures and limited operating costs [2]. Production Estimates - Average oil production is projected to be between 54,500 and 57,500 barrels per day (bo/d), reflecting an increase of 8,500 bo/d at the midpoint compared to prior standalone guidance, due to 43 days of contribution from Sitio [7]. - Average total production is expected to range from 104,000 to 110,000 barrels of oil equivalent per day (boe/d), representing an increase of 18,000 boe/d at the midpoint compared to prior standalone guidance, also attributed to the contribution from Sitio [7].