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Viper Energy Partners to boost borrowing base by $125M; GP board member resigns

Viper Energy Partners LP and Viper Energy Partners LLC entered into a second amendment to its senior secured revolving credit agreement, which includes an increase of $125 million in the borrowing base.

The increase will become effective upon Viper Energy Partners LLC's completion of its pending acquisition of mineral and royalty interests in Texas from its parent company Diamondback Energy Inc., according to a Sept. 30 SEC filing. The transaction is scheduled to close in the fourth quarter.

The credit agreement was previously amended to raise the borrowing base to $600 million from $555 million.

In a separate same-day SEC filing, Viper Energy Partners GP LLC Director Michael Hollis resigned from his post, effective immediately. Viper Energy Partners GP is the general partner of Viper Energy Partners LP.

Viper Energy Partners is a Texas-based partnership formed by Diamondback to own and acquire oil and gas properties primarily in the Permian Basin of West Texas.