Viper Energy (VNOM) just issued shares to finance more royalty acquisitions. The 9.5 million share sale in February paid down long-term debt. The company has a pattern of acquiring royalty interests and then issuing shares to in effect pay for those acquired interest.
So far, the market has accommodated this strategy. Should the market force a change in strategy as it has with many midstream companies, the Permian location and the Eagle Ford diversification should assure continued production growth to assure a bright shareholder future. In the meantime, shareholders can enjoy the currently