Viper(US:VNOM)2025-06-03 12:10Transaction Overview - Viper and Sitio are undergoing a merger, with a purchase price of approximately $4.1 billion[16] - The pro forma equity ownership will be approximately 80% Viper and 20% Sitio[24] - The transaction is expected to close in the 3rd quarter of 2025[24] Pro Forma Metrics - The pro forma enterprise value is $17.1 billion[21] - Net production is estimated at 66 Mboe/d (oil) and 126 Mboe/d (total)[21] - Net royalty acres are approximately 95,000[21] Financial Highlights - The merger is expected to be approximately 8-10% accretive to cash available for distribution per Class A share immediately upon closing[24] - Synergies are estimated to be greater than $50 million annually[24] - Pro forma leverage is expected to be approximately 1.2x at closing[24] Balance Sheet and Capital Returns - Pro forma net debt as of March 31, 2025, is approximately $2.25 billion[44] - The company maintains a return of capital commitment of at least 75% of cash available for distribution to equity holders[49]