IPO: Diamondback Energy files to take Permian midstream unit public as MLP


[Context: On August 7, Diamondback Energy (Nasdaq: FANG) filed an initial prospectus to take public its Permian midstream operations under the name of Rattler Midstream Partners LP, according to securities filings. Given the small volume of current cash flow, PE-backed midstream operators in the basin will likely be interested to see how the proposed MLP will be received by the market. Below are excerpts from the filing to highlight some key features of the proposed offering. Further details, advisors and related links are below.]

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