21 Oct 2021director interest notice● Neutral
VNOM Sub, Inc. 10%+ owner Bx Guidon Topco LLC disposed of 15,250,000 shares via option/appreciation-right settlement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
21 Oct 2021substantial holder notice● Neutral
Swallowtail Royalties LLC, Guidon Energy Holdings LP, Guidon Energy Holdings GP LLC, Swallowtail Royalties II LLC, Swallowtail Royalties Holdings LLC, BX Swallowtail Royalties Holding LLC, BX Guidon Topco LLC, Blackstone Management Associates VI L.L.C, Blackstone Energy Management Associates II L.L.C, BMA VI L.L.C, Blackstone EMA II L.L.C, Blackstone Holdings III L.P, Blackstone Holdings III GP L.P, Blackstone Holdings III GP Management L.L.C, Blackstone Inc, Blackstone Group Management L.L.C, Stephen A. Schwarzman reported a VNOM Sub, Inc. shareholding of 15,207,227 shares (19.20% of votes) in a periodic institutional filing.
20 Oct 2021securities registration● Neutral
VNOM Sub, Inc. filed the final prospectus for a registered offering.
18 Oct 2021securities registration● Neutral
VNOM Sub, Inc. filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
12 Oct 2021substantial holder notice● Neutral
Swallowtail Royalties LLC, Guidon Energy Holdings LP, Guidon Energy Holdings GP LLC, Swallowtail Royalties II LLC, Swallowtail Royalties Holdings LLC, BX Swallowtail Royalties Holding LLC, BX Guidon Topco LLC, Blackstone Management Associates VI L.L.C, Blackstone Energy Management Associates II L.L.C, BMA VI L.L.C, Blackstone EMA II L.L.C, Blackstone Holdings III L.P, Blackstone Holdings III GP L.P, Blackstone Holdings III GP Management L.L.C, Blackstone Inc, Blackstone Group Management L.L.C, Stephen A. Schwarzman disclosed a new substantial VNOM Sub, Inc. shareholding (19.20% of votes).
12 Oct 2021director interest notice● Neutral
Swallowtail Royalties LLC became a VNOM Sub, Inc. 10%+ owner and company insider (initial ownership filing).
12 Oct 2021director interest notice● Neutral
Blackstone Holdings III L.p. became a VNOM Sub, Inc. 10%+ owner and company insider (initial ownership filing).
7 Oct 2021asset acquisition disposition● NeutralMajor
On October 1, 2021 the company closed the Swallowtail acquisition announced in August, paying 15.25 million new common units plus about $225 million in cash (from cash on hand and revolver borrowings). This adds roughly 2,302 net royalty acres, about 65% operated by Diamondback, and the 15.25 million new units dilute existing unitholders; the sellers got registration rights, with a resale shelf registration due within 15 days of closing.
12 Aug 2021capital raising announcement● NeutralMajor
On August 6, 2021 the company agreed to buy 2,302 net royalty acres, mainly in the Northern Midland Basin and about 65% operated by Diamondback, from Swallowtail entities controlled by Blackstone. It will pay 15.25 million new common units plus $225 million in cash, funded from cash on hand and revolver borrowings. The effective date is August 1, 2021 and closing is expected by early Q4 2021, subject to diligence and conditions including antitrust clearance. The new units dilute existing holders, and the seller gets registration rights. Blackstone owns about 5.9% of Diamondback and sold Diamondback other Northern Midland assets in February 2021.
3 Aug 2021quarterly activities report● Neutral
VNOM Sub, Inc. reported quarterly revenue of $128.0 million and net income of $16.8 million for the period ended 2021-09-30.
2 Aug 2021quarterly activities report● Neutral
VNOM Sub, Inc. reported quarterly revenue of $128.0 million and net income of $16.8 million for the period ended 2021-09-30.
14 July 2021director interest notice● Neutral
VNOM Sub, Inc. director Armour Spencer D III received 5,513 shares as part of the equity award.
14 July 2021director interest notice● Neutral
VNOM Sub, Inc. director Steven E West received 5,513 shares as part of the equity award.
14 July 2021director interest notice● Neutral
VNOM Sub, Inc. director Rubin James L. received 5,513 shares as part of the equity award.
14 July 2021director interest notice● Neutral
VNOM Sub, Inc. director Grover Rosalind Redfern received 5,513 shares as part of the equity award.
14 July 2021director interest notice● Neutral
VNOM Sub, Inc. director William Wesley Perry received 5,513 shares as part of the equity award.
8 June 2021debt financing● NeutralMajor
On June 2, 2021 a seventh amendment to the revolving credit agreement extended its maturity to June 2, 2025 (from November 2022) and changed the interest rates and fees. It added a covenant capping secured debt at 2.50 times EBITDAX, set the elected commitment at $500 million, and reaffirmed the borrowing base at $580 million. The maximum credit amount stays at $2.0 billion.
5 May 2021quarterly activities report● Neutral
VNOM Sub, Inc. reported quarterly revenue of $114.2 million and net income of $4.7 million for the period ended 2021-06-30.
3 May 2021quarterly activities report● Neutral
VNOM Sub, Inc. reported quarterly revenue of $114.2 million and net income of $4.7 million for the period ended 2021-06-30.
16 Apr 2021quarterly activities report▼ Bad
VNOM Sub, Inc. reported quarterly revenue of $97.0 million and a net loss of $3.0 million for the period ended 2021-03-31.
3 Mar 2021director interest notice● Neutral
VNOM Sub, Inc. Exec. VP, Gen Counsel and Sec Zmigrosky Matt had 1,444 shares withheld for taxes on vesting stock.
22 Feb 2021quarterly activities report▼ Bad
VNOM Sub, Inc. reported quarterly revenue of $97.0 million and a net loss of $3.0 million for the period ended 2021-03-31.
16 Feb 2021substantial holder notice● Neutral
Capital World Investors reported a VNOM Sub, Inc. shareholding of 1,455,000 shares (2.10% of votes) in a periodic institutional filing.
4 Feb 2021substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP reported a VNOM Sub, Inc. shareholding of 9,539,455 shares (14.06% of votes) in a periodic institutional filing.
12 Nov 2020debt financing▲ GoodMajor
On November 6, 2020 a sixth amendment kept the borrowing base at $580 million (the November 2020 scheduled review) and allowed unit buybacks of up to $100 million. On November 9 the board approved a program to buy back up to $100 million of common units through December 31, 2021, to be done opportunistically with cash, free cash flow and possible asset-sale proceeds, and bought units will be retired. Management said it is not a buy-in of Viper by Diamondback and that it will also keep reducing net debt.
5 Nov 2020quarterly activities report▼ Bad
VNOM Sub, Inc. reported quarterly revenue of $62.9 million and a net loss of $764 thousand for the period ended 2020-09-30.
2 Nov 2020quarterly activities report▼ Bad
VNOM Sub, Inc. reported quarterly revenue of $62.9 million and a net loss of $764 thousand for the period ended 2020-09-30.
18 Sept 2020director interest notice● Neutral
VNOM Sub, Inc. President Van't Hof Matthew Kaes bought 3,000 shares on the open market at $8.10.
5 Aug 2020quarterly activities report▼ Bad
VNOM Sub, Inc. reported quarterly revenue of $62.9 million and a net loss of $764 thousand for the period ended 2020-09-30.
3 Aug 2020quarterly activities report▼ Bad
VNOM Sub, Inc. reported quarterly revenue of $62.9 million and a net loss of $764 thousand for the period ended 2020-09-30.