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DiamondBack Move Minerals To Viper Energy Partners; Files IPO

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DiamondBack Move Minerals To Viper Energy Partners; Files IPO

Diamondback Energy, Inc. announced financial and operating results for the first quarter ended March 31, 2014.

During the first quarter of 2014, net income was $23.6 million, or $0.48 per diluted share. Net income for the first quarter includes a non-cash loss on commodity derivatives of $3.3 million ($2.1 million net of tax), or $0.04per diluted share. Without the impact of this item, net income for the first quarter of 2014 would have been $25.7 million, or $0.53 per diluted share.

Mineral Interests

Earlier today, Diamondback's wholly-owned subsidiary Viper Energy Partners LP filed a registration statement on Form S-1 with the Securities and Exchange Commission in connection with its proposed initial public offering of limited partner interests. At or prior to the closing of this…

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