MIDLAND, Texas, Nov. 5, 2026 — Viper Energy, Inc. (NASDAQ: VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), today announced the adoption of a distribution reinvestment plan (the “OpCo DRIP”) by Viper and its operating subsidiary, VNOM Holding Company LLC (the “Operating Company”).
The OpCo DRIP allows holders of Operating Company units other than Viper to reinvest their cash distributions into additional Operating Company units and corresponding shares of Viper’s Class B common stock.
Diamondback, Viper’s largest stockholder, has elected to participate in the OpCo DRIP beginning with the third-quarter distribution payable on November 19, 2026. Diamondback’s participation will be reviewed quarterly. The OpCo DRIP was unanimously approved by Viper’s audit committee and board of directors.
“Diamondback’s decision to reinvest its distributions in Viper is a clear statement of conviction in our assets, long-term strategy and the significant dislocation of Viper’s current market value relative to its intrinsic value,” said Kaes Van’t Hof, Chief Executive Officer of Viper. “The OpCo DRIP further aligns Diamondback’s interests with those of Viper’s public stockholders and strengthens a relationship that has been foundational to Viper since its inception. Additionally, the implementation of the OpCo DRIP will enable increased flexibility in our capital allocation framework, including increased repurchases of Class A shares.”
The securities issued under the OpCo DRIP have not been registered under the Securities Act of 1933, as amended, or any state securities laws. These securities may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. This announcement does not constitute an offer to sell or a solicitation of an offer to buy securities. Further details will be provided in a Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission (SEC).
Beneficial owners of Viper’s publicly listed Class A common stock interested in automatically reinvesting their dividends are encouraged to contact their brokerage firms regarding available dividend reinvestment programs.
Viper has also arranged for its transfer agent, Computershare Trust Company, N.A. (“Computershare”), to provide a dividend reinvestment program for registered holders of Class A common stock. Computershare will contact eligible registered holders in the near future with additional information about the program.
About Viper Energy, Inc.
Viper is a corporation formed by Diamondback to own, acquire and exploit oil and natural gas properties in North America. The Company focuses on owning and acquiring mineral and royalty interests in oil-weighted basins, primarily the Permian Basin. For more information, please visit www.viperenergy.com.
About Diamondback Energy, Inc.
Diamondback is an independent oil and natural gas company headquartered in Midland, Texas. The Company focuses on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves, primarily in the Permian Basin of West Texas. For more information, please visit www.diamondbackenergy.com.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of federal securities laws. These statements involve risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied.
Forward-looking statements include statements concerning activities that Viper assumes, plans, expects, believes, intends or anticipates will, should or may occur in the future. These include statements regarding Diamondback’s future participation in the OpCo DRIP and its anticipated benefits, Viper’s strategy, future operations, financial position, estimated revenues, projected costs, prospects, plans and management objectives.
Words such as “may,” “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions, including their negative forms, are generally intended to identify forward-looking statements, although not all forward-looking statements contain these terms.
Factors that could cause actual outcomes to differ materially include, but are not limited to, the amount and timing of distributions by the Operating Company; whether Diamondback or any other holder of Operating Company units elects to participate in the OpCo DRIP in any given quarter; changes in supply and demand for oil, natural gas and natural gas liquids and their effects on commodity prices; developmental activity by other operators; and risks described in Viper’s SEC filings, including Item 1A of its Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Forms 10-Q and 8-K, and other filings made with the SEC.
These filings are available free of charge through the SEC website at http://www.sec.gov and Viper’s investor website at www.viperenergy.com/investors/overview.
The events anticipated in Viper’s forward-looking statements may not occur at the expected time or may not occur at all. Viper cannot predict all risks or assess the impact of every factor on its business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those anticipated. Accordingly, undue reliance should not be placed on forward-looking statements.
All forward-looking statements speak only as of the date of this communication or, if earlier, the date on which they were made. Viper does not intend to update or revise any forward-looking statements and disclaims any obligation to do so, except as required by applicable law.
Investor Contact
Viper Energy
Chip Seale
+1 432.247.6218
[email protected]
Source: Viper Energy, Inc.; Diamondback Energy, Inc.
