Diamondback Energy acquired Tumbleweed Royalty IV / TWR (acquired by Viper Energy) for ~$650 million (~$464 million cash + 10.09 million Viper LLC units + contingent up to $41M), a transaction completed in October 2024, structured as cash-and-units.
Tumbleweed Royalty IV / TWR (acquired by Viper Energy) operates in Mineral & royalty interests (Permian) - via subsidiary Viper Energy, is based in Permian Basin. As part of the September-October 2024 'Viper Tumbleweed Acquisitions,' Viper Energy acquired the equity of TWR IV, LLC and related entities from Tumbleweed Royalty IV, adding roughly 3,067 net royalty acres primarily in the Permian Basin. The headline TWR IV component was ~$464 million cash plus 10.09 million Viper LLC units, an option for additional Class B shares, and contingent consideration of up to $41 million tied to 2025 WTI prices.
One of a related series of 2024 Viper royalty acquisitions (TWR, Q and M) consolidating Permian mineral ownership.
~3,067 net royalty acres, Permian-concentrated. Held by Viper Energy (Diamondback consolidated subsidiary)
Advisory firms were not disclosed for this transaction.