Viper Energy Partners LP Announces Retirement of Board Member

Rhea-AI Summary

Viper Energy Partners LP (NASDAQ:VNOM) announces the retirement of Rosalind Redfern Grover from its Board of Directors, effective December 31, 2022. Grover has served on the board since 2014, contributing significantly to Viper's development in the oil and gas sector. CEO Travis Stice expressed gratitude for her leadership and noted her influence in establishing Viper as a public entity in the minerals and royalties industry. Viper, a subsidiary of Diamondback Energy, focuses on acquiring and exploiting oil and natural gas properties, primarily in the Permian Basin.

Positive

• Rosalind Redfern Grover's retirement opens the opportunity for new leadership and perspectives on the board.

Negative

• Grover's departure may raise concerns regarding continuity and potential experience gaps on the board.

MIDLAND, Texas, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Viper Energy Partners LP (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today announced that Rosalind Redfern Grover, who has served as a member of the Board of Directors of Viper’s General Partner since 2014, has elected to retire from the Board, effective at the end of the year.

“On behalf of the entire Board and management team, I would like to thank Rosalind for her over eight years of service as a member of the Board. Her leadership and experience in the oil and gas industry was instrumental in helping Viper pave the way as a public company in the minerals and royalties space. Rosalind is an instrumental figure in the Texas oil and gas industry, and we wish her all the best in her retirement,” stated Travis Stice, Chief Executive Officer of Viper’s General Partner.

About Viper Energy Partners LP

Viper is a limited partnership formed by Diamondback to own, acquire and exploit oil and natural gas properties in North America, with a focus 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 focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

Investor Contact:

Austen Gilfillian
+1 432.221.7420
agilfillian@viperenergy.com

Source: Viper Energy Partners LP; Diamondback Energy, Inc.

FAQ

What is the reason for Rosalind Redfern Grover's retirement from the Viper Board?

Rosalind Redfern Grover has elected to retire after over eight years of service, effective December 31, 2022.

How long has Rosalind Redfern Grover served on the Viper Energy Partners LP Board?

She has served on the Board of Viper Energy Partners LP since 2014.

What impact might Grover's retirement have on Viper Energy Partners LP?

Her retirement could lead to new leadership dynamics but may also raise concerns about continuity and experience.

Who expressed gratitude for Rosalind Grover's service at Viper Energy?

Travis Stice, the CEO of Viper's General Partner, expressed gratitude for her contributions to the company.