Sitio Royalties up after Viper Energy to acquire co in $4.1 billion deal

Shares of Sitio Royalties STR.N rise nearly 11% to $19.20 in morning trade

Oil and gas company Diamondback Energy's FANG.O unit Viper Energy VNOM.O to acquire Sitio Royalties in an all-stock deal valued at about $4.1 billion, including debt

The deal includes STR's net debt of $1.1 billion as of March 31

*Deal will add about 25,300 net royalty acres in the Permian Basin to VNOM's portfolio, plus an additional ~9,000 net royalty acres in other major basins

VNOM and STR expect more than $50 million in cost synergies annually

Transaction is expected to close in 3Q25

Up till last close, STR up 0.5% YTD