Viper Energy Partners LP, A Subsidiary Of Diamondback Energy, Inc., Announces Effective Date Of Tax Status Change From Pass-T...
May 09 2018 - 3:01PM
Viper Energy Partners LP (NASDAQ:VNOM) (“Viper”), a subsidiary of
Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today
announced that Viper’s federal income tax status change from that
of a pass-through partnership to that of a taxable entity via a
“check the box” election will be effective as of tomorrow, May 10,
2018.
After the effectiveness of the tax status
election and the completion of related transactions, the minerals
business will continue to be conducted through Viper's wholly-owned
subsidiary, which will be taxed as a partnership for federal and
state income tax purposes.
About Viper Energy Partners LP
Viper is a limited partnership formed by
Diamondback to own, acquire and exploit oil and natural gas
properties in North America, with a focus on oil-weighted basins,
primarily the Permian Basin in West Texas and the Eagle Ford
Shale.
About Diamondback Energy, Inc.
Diamondback is an independent oil and natural
gas company headquartered in Midland, Texas focused on the
acquisition, development, exploration and exploitation of
unconventional, onshore oil and natural gas reserves in the Permian
Basin in West Texas. Diamondback’s activities are primarily focused
on the horizontal exploitation of multiple intervals within the
Wolfcamp, Spraberry, Clearfork, Bone Spring and Cline
formations.
Forward-Looking Statements
This news release contains forward-looking
statements within the meaning of the federal securities laws. All
statements, other than historical facts, that address activities
that Viper assumes, plans, expects, believes, intends or
anticipates (and other similar expressions) will, should or may
occur in the future are forward-looking statements. The
forward-looking statements are based on management’s current
beliefs, based on currently available information, as to the
outcome and timing of future events. These forward-looking
statements involve certain risks and uncertainties that could cause
the results to differ materially from those expected by the
management of Viper. Information concerning these risks and other
factors can be found in Viper’s filings with the Securities and
Exchange Commission, including its Forms 10-K, 10-Q and 8-K, which
can be obtained free of charge on the Securities and Exchange
Commission’s web site at http://www.sec.gov. Viper undertakes no
obligation to update or revise any forward-looking statement.
Investor Contact:Adam Lawlis+1
432.221.7467alawlis@viperenergy.com
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