Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Announces Proposed Election to Change Tax Status From Pass-Through Partnership to a Taxable Entity
Viper Energy, Inc. - Class A (VNOM)
Last viper energy, inc. - class a earnings: 2/11 04:01 pm
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Source: GlobeNewswire
MIDLAND, Texas, March 29, 2018 (GLOBE NEWSWIRE) -- Viper Energy Partners LP (NASDAQ:VNOM) (“Viper”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today announced that the Board of Directors of its general partner has unanimously approved a change of Viper’s federal income tax status from that of a pass-through partnership to that of a taxable entity via a “check the box” election. Viper does not expect this election to be taxable to Viper or its current unitholders, and Viper’s business model will not change. Viper also intends to continue to distribute all operating cash flow to unitholders on a quarterly basis consistent with its existing distribution policy and will look to continue to grow this distribution via both organic growth and accretive mineral acquisitions in oil-weighted basins. Viper believes this election will allow it to significantly expand its investor base, both in the United States and internationally, as well as simplify its tax stru
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Sec Filings
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