Viper Energy Partners LP (VNOM) IPO Surges Higher (FANG)

June 18, 2014 10:36 AM EDT

The IPO for Viper Energy Partners LP (NASDAQ: VNOM) opened for trading at $31.80 after pricing 5,000,000 common units representing limited partner interests at $26 per common unit, above the expected $19-$21 range. The units have continued higher to $33, or up 26.9%.

Barclays, Credit Suisse and Wells Fargo Securities are acting as joint book-running managers for the offering, Baird, Raymond James, Scotiabank / Howard Weil, Simmons & Company International, Stifel and Tudor, Pickering, Holt & Co. are acting as senior co-managers for the offering, and Northland Capital Markets, Sterne Agee and Wunderlich Securities are acting as co-managers for the offering.

Viper Energy Partners LP is a limited partnership formed by Diamondback Energy, Inc. (Nasdaq: FANG) that is engaged in owning, acquiring and exploiting oil and natural gas properties in North America, with an initial focus on the Permian Basin.

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