Warwick and GRP Energy have acquired oil and gas mineral and royalty assets from Viper Energy, a subsidiary of Diamondback Energy, in a $670 million deal. The transaction represents a significant expansion of both firms' portfolios in the energy sector, particularly in the lucrative Permian Basin region.

The acquisition underscores the continued investor appetite for oil and gas royalties, which provide steady cash flows with lower operational risk compared to direct production assets. Viper Energy, which manages mineral interests across multiple shale basins, has been actively monetizing its portfolio as part of Diamondback's broader strategy to optimize its asset base and return capital to shareholders.

This deal highlights the growing importance of royalty and mineral rights in the energy investment landscape, particularly as institutional investors seek exposure to oil and gas without the operational complexities of production. The transaction is expected to close subject to customary regulatory approvals and other conditions.