05:14 PM EDT, 10/01/2024 (MT Newswires) -- Viper Energy ( VNOM ) said Tuesday that it has completed the acquisition of certain mineral and royalty interest-owning subsidiaries of Tumbleweed Royalty IV.

Viper closed the acquisition for $459 million in cash, and issuance of 10.1 million Viper operating subsidiary's units to Tumbleweed Royalty IV, and an option to acquire an equal number of Viper class B common shares.

The deal includes a potential extra payment of up to $41 million in Q1 2026, depending on the average West Texas Intermediate price in 2025, Viper said.

Separately, Viper parent Diamondback Energy ( FANG ) updated its Q3 production and capital guidance to reflect the completion of its merger with Endeavor Energy Resources.

The revised guidance for Q3 indicates oil production to be between 319,000 and 321,000 barrels of oil per day, and cash capital expenditures between $675 million and $700 million.

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