Press Release

Kirkland Advises Swallowtail on its Mineral and Royalty Interests Sale to Viper

Kirkland & Ellis counseled Swallowtail Royalties LLC and Swallowtail Royalties II LLC on the definitive purchase and sale agreement with Viper Energy Partners LP (NASDAQ:VNOM), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG), to acquire certain mineral and royalty interests from Swallowtail  in exchange for 15.25 million units of Viper common stock and $225 million of cash, subject to customary adjustments. The cash portion of this transaction is expected to be funded through a combination of cash on hand and borrowings under the Company’s credit facility.

Read Viper’s press release

The Kirkland team was led by corporate partners Thomas Laughlin and Rhett Van Syoc and associates Danny Nappier and Jonathan Strom; with assistance from corporate partner Kyle Watson and associate Zach Scott; capital markets partner Michael Wayne Rigdon and associates Justin Bosworth and Shelby Brown; and tax partner Mark Dundon and associate Joe Tobias.