Shares of Viper Energy Partners LP rose 28% on Wednesday after the mineral-rights owner's initial public offering priced well above expectations. The Midland, Tex.-based company sold 5 million shares at $26 each, having forecast $19 to $21 a share. Viper is a master limited partnership, and its assets include oil and gas royalties in Texas's Permian Basin. The company is a spinoff of Diamondback Energy Inc. , which bought the Permian Basin mineral rights in September.

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