By Karen Roman
Vinson & Elkins said it advised Sitio Royalties Corp.’s (NYSE: STR) entry into a definitive agreement with Viper Energy, Inc. (Nasdaq: VNOM), under which a subsidiary of Viper will buy Sitio in an all-equity transaction valued at approximately $4.1 billion.
The transaction includes Sitio’s net debt of approximately $1.1 billion as of March 31, the law firm wrote int a statement. The deal is scheduled to close by the third quarter of 2025, it said.
The Vinson & Elkins team was led by partners Doug McWilliams (Houston), Benji Barron (Houston), Scott Rubinsky (Houston) and associate Chase Browndorf (Houston), among others.
“The combination of Viper and Sitio signifies an important moment for mineral and royalty interests,” said Kaes Van’t Hof, Viper’s CEO. “This combination creates a leader in size, scale, float, liquidity and access to investment grade capital in the highly fragmented minerals industry.”
