VIPER ENERGY PARTNERS LP (NASDAQ:VNOM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

>On March 22, 2017, Viper Energy Partners GP LLC, the general partner (the “General Partner”) of Viper Energy Partners LP (the “Partnership”), appointed Spencer D. Armour, III to serve as a member of the Board of Directors (the “Board”) of the General Partner and its Audit Committee, effective March 22, 2017. Mr. Armour fills the vacancy created on the Board and its Audit Committee due to the previously reported resignation of W. Duncan Kennedy. This vacancy has been filled within the cure period provided by, and the Partnership has regained compliance with, the applicable NASDAQ rules, requiring at least three independent directors on the Audit Committee of the General Partner.

Mr. Armour has over 30 years of executive and entrepreneurial experience in the energy services industry. Mr. Armour currently serves as President of PT Petroleum LLC in Midland, Texas. He was the Vice President of Corporate Development for Basic Energy Services, Inc. from 2007 to 2008, which acquired Sledge Drilling Corp., a company Mr. Armour co-founded and served as Chief Executive Officer for from 2005 to 2006. From 1998 through 2005, he served as Executive Vice President of Patterson-UTI Energy, Inc., which acquired Lone Star Mud, Inc., a company Mr. Armour founded and served as President for from 1986 to 1997. Mr. Armour has served as a director of ProPetro Holding Corp. since February 2013. He also served on the Patterson – UTI Board of Directors from 1999 through 2001. Mr. Armour received a B.S. in Economics from the University of Houston in 1977 and was appointed to the University of Houston System Board of Regents in 2011 by former Texas Governor Rick Perry. The General Partner believes that Mr. Armour’s extensive experience in the energy services industry and his knowledge of the industry dynamics within the Permian Basin makes him well suited to serve as a director of the General Partner.

Mr. Armour will be entitled to receive the cash compensation and equity awards given to other non-employee directors for services on the Board as disclosed in the Partnership’s Annual Report on Form 10-K, filed by the Partnership with the Securities and Exchange Commission on February 15, 2017, as amended on March 2, 2017.

About VIPER ENERGY PARTNERS LP (NASDAQ:VNOM)
Viper Energy Partners LP is a limited partnership that owns, acquires and exploits oil and natural gas properties in North America. The Company’s business objective is to provide an attractive return to its unitholders by focusing on business results, maximizing distributions through organic growth and pursuing accretive growth opportunities through acquisitions of mineral, royalty, overriding royalty, net profits and similar interests from Diamondback Energy, Inc. and from third parties. Its segment is engaged in the acquisition of oil and natural gas properties. Its assets consist of mineral interests in oil and natural gas properties in the Permian Basin in West Texas, all of which are leased to working interest owners. The Permian Basin, which consists of approximately 85,000 square miles centered on Midland, Texas, has been the source of oil production. Its assets consisted of mineral interests underlying approximately 46,560 gross (17,060 net) acres in the Permian Basin. VIPER ENERGY PARTNERS LP (NASDAQ:VNOM) Recent Trading Information
VIPER ENERGY PARTNERS LP (NASDAQ:VNOM) closed its last trading session down -0.16 at 17.59 with 56,517 shares trading hands.