SCHEDULE: Blackstone Exits Sitio Royalties Stake Post-Merger
Schedule 13G Amendment
Blackstone entities and Stephen A. Schwarzman report 0% beneficial ownership in Sitio Royalties Corp. following a merger where Class C shares and Opco Units converted into Viper Energy interests.
Summary
- This is Amendment No. 2 to a Schedule 13G filing by various Blackstone entities and Stephen A. Schwarzman regarding their beneficial ownership in Sitio Royalties Corp.
- The reporting persons now hold 0.00 shares, representing 0.0% of Sitio Royalties Corp.'s Class A Common Stock.
- This change in ownership is a result of a merger event that occurred on August 19, 2025.
- Pursuant to an Agreement and Plan of Merger dated June 2, 2025, Sitio Royalties Corp.'s Class C common stock was automatically cancelled and ceased to exist.
- Common units representing limited partnership interests (Opco Units) in Sitio Royalties Operating Partnership, LP converted into the right to receive 0.4855 units of Viper Energy Partners LLC and 0.4855 shares of Class B common stock of Viper Energy, Inc.
Sentiment
Score: 5
Explanation: The filing is a factual disclosure of a change in beneficial ownership due to a merger, not an operational or financial performance report. The divestment by Blackstone is a consequence of the merger, not an independent investment decision.
Industry Context
This filing reflects a significant change in ownership within the oil and gas royalties sector, specifically detailing the exit of Blackstone's funds from Sitio Royalties Corp. as a direct consequence of Sitio Royalties' merger with Viper Energy, Inc. This indicates a consolidation event impacting the ownership structure of key players in the royalty and mineral interest space.
Stakeholder Impact
- Shareholders of Sitio Royalties Corp. holding Class C common stock or Opco Units were impacted by the automatic cancellation of their Class C shares and the conversion of their Opco Units into Viper Energy Partners LLC units and Viper Energy, Inc. Class B common stock.
Key Dates
| Date | Description |
|---|---|
| June 2, 2025 | Date of the Agreement and Plan of Merger. |
| August 19, 2025 | Date of the merger event, where Class C common stock was cancelled and Opco Units converted. |
| August 21, 2025 | Date of filing this Schedule 13G Amendment. |
Keywords
Sitio Royalties Corp., Blackstone, SEC filing, Schedule 13G, beneficial ownership, merger, Viper Energy, oil and gas, royalties, divestment
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