Viper Energy Partners LP is a limited partnership formed by Diamondback Energy, Inc (Diamondback) to own, acquire and exploit oil and natural gas properties in North America. Diamondback is a publicly traded independent oil and natural gas company. Diamondback is focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin. As of March 31, 2014, Diamondback�s total net acreage position in the Permian Basin (including the acreage underlying its mineral interests with respect to which it is operator) was approximately 72,000 net acres and it serves as the operator of approximately 99% of its leased acreage.