Viper Energy Partners LP has entered a deal to substantially expand its Lower 48 mineral and royalty interest footprint through an acquisition from two private equity firms.

The Diamondback Energy Inc. subsidiary agreed to acquire about 7,300 net royalty acres from Warwick Capital Partners and GRP Energy Capital for roughly 9.02 million Viper common units and $750 million in cash, Viper management said. 

The assets include some 4,600 net royalty acres in the Permian Basin and 2,700 net royalty acres in other major basins.

[Land of Opportunity: Can Texas natural gas power Mexico’s nearshoring and LNG export ambitions? Possibilities abound on both sides of the border as natural gas demand continues to grow. Download this NGI Special Edition now.]

The acreage currently is...