Exhibit 99.1


MIDLAND, Texas, February 14, 2017 (GLOBE NEWSWIRE) -- Viper Energy Partners LP (NASDAQ:VNOM) ("Viper" or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) ("Diamondback"), today announced financial and operating results for the fourth quarter ended December 31, 2016.

Previously announced Q4 2016 cash distribution of $0.258 per common unit
Q4 2016 average daily production of 7,919 boe/d (74% oil), up 27% from Q3 2016 average daily production of 6,255 boe/d
Q4 2016 average realized prices were $46.14 per barrel of oil, $2.50 per Mcf of natural gas and $16.15 per barrel of natural gas liquids, resulting in a total equivalent price of $38.33/boe, up 10% from the Q3 2016 total equivalent price of $34.74/boe
Proved reserves as of December 31, 2016 of 31.4 MMboe (68% oil), up 19% year over year
Full year 2017 production guidance of 8,000 to 8,500 boe/d, the midpoint of which is up over 25% from 2016 average daily production
There are approximately 161 active well permits and seven active rigs currently on Viper's mineral acreage
Closed 13 deals for $68 million in Q4 2016, increasing Viper's mineral assets by 887 net royalty acres

“Viper's mineral assets in the most attractive areas of the Permian Basin continue to be a driving force in both production and distribution growth. Assuming current activity levels on our existing asset base, we expect annualized organic production growth of over 25% in 2017," stated Travis Stice, Chief Executive Officer of Viper's general partner.

Mr. Stice continued, "After our recent equity raise, Viper currently has net cash, a clear organic growth trajectory and significant upside from operators accelerating development in 2017. Our acquisition machine came to life in the second half of 2016, adding over 1,900 net royalty acres after completing 26 deals for over $194 million. We look to continue this momentum in 2017 after assembling a full-time dedicated team for Viper in 2016."


During the fourth quarter of 2016, the Company recorded total operating income of $27.9 million and net income of $16.3 million.

The following information was filed by Viper Energy Partners Lp (VNOM) on Wednesday, February 15, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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