Warwick Capital Partners and GRP Energy Capital announced on February 12 2026 that they have closed a $670 million transaction to acquire Viper Energy’s non‑Permian royalty assets, with the deal becoming effective on September 1 2025.
The acquisition adds 73,500 net royalty acres across the Delaware, Eagle Ford and Williston basins, and is expected to generate 4,500‑5,000 barrels of oil per day and 9,000‑10,000 barrels of oil equivalent per day, providing a steady stream of production from high‑producing basins.
For Viper Energy, the sale delivers a significant cash infusion that will reduce its net debt from $2.2 billion to its target of $1.5 billion, while allowing the company to concentrate on its core Permian operations. The transaction is part of Diamondback Energy’s broader strategy to divest non‑core assets and strengthen its balance sheet.
Warwick Capital and GRP Energy Capital are expanding their royalty portfolios by adding production capacity in three major basins. The deal is one of the largest recent acquisitions in the U.S. oil and gas royalty sector and positions the two firms to capture additional high‑producing acreage.
Viper Energy reported $418 million in revenue for the third quarter of 2025 and has a strong free‑cash‑flow profile. The company’s CEO, Kaes Van’t Hof, noted that the non‑Permian asset sale would support a return‑of‑capital commitment, with 85 % of capital cash expected to be distributed to shareholders in the third quarter.
The transaction underscores the continued demand for royalty interests in productive basins and highlights Viper’s focus on growth and debt reduction, while expanding Warwick Capital and GRP Energy Capital’s footprint in the U.S. oil and gas royalty market.
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