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Blackstone Entities Report 0.00 Shares in Sitio After Merger Conversion

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13G/A

Rhea-AI Filing Summary

Sitio Royalties Corp.'s Schedule 13G/A is filed by multiple Blackstone-related entities and Stephen A. Schwarzman to disclose holdings in the issuer's Class A Common Stock (CUSIP 82983N108). The filing states that, following the Merger Agreement dated June 2, 2025, on August 19, 2025 Sitio's Class C common stock was cancelled and Opco units converted into: 0.4855 LLC units in Viper Energy Partners LLC and 0.4855 shares of Class B common stock of Viper Energy, Inc. Each Reporting Person's cover page reports 0.00 shares beneficially owned and 0.0% of the Class A class. The statement disclaims that most Reporting Persons are beneficial owners of the Class A shares and clarifies organizational relationships among the Blackstone entities.

Positive

  • Clear disclosure that each Reporting Person reports 0.00 shares and 0.0% ownership of Class A Common Stock
  • Merger conversion terms explicitly stated: each Opco unit converted into 0.4855 LLC units in Viper Energy Partners LLC and 0.4855 Class B shares of Viper Energy, Inc.
  • Comprehensive mapping of organizational relationships among Blackstone entities and signatories, improving transparency

Negative

  • None.

Insights

TL;DR Reporting shows Blackstone-related parties disclose no beneficial ownership of Sitio Class A stock after the merger; conversion mechanics are specified.

The filing is primarily a compliance disclosure: it documents the corporate reorganization resulting from the merger and the conversion formula for Opco units into Viper equity units and Class B shares. The reported 0.00 shares and 0.0% holdings across multiple filing entities indicate no retained Class A exposure by these reporting persons. For analysts, the material item is the conversion ratio (0.4855/0.4855) which determines post-closing economic and governance allocation for former Opco holders.

TL;DR Filing clarifies ownership structure and expressly disclaims beneficial ownership by parent and affiliated entities.

The document carefully maps the chain of control among Blackstone entities and includes an explicit disclaimer that most Reporting Persons do not claim beneficial ownership of Class A shares. This is a standard governance disclosure to avoid Section 13(d) implications. The signatures from authorized signatories across entities demonstrate internal coordination and formal acknowledgement of the post-merger capital structure.






Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)






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SCHEDULE 13G



BX Royal Aggregator LP
Signature:/s/ Robert Brooks
Name/Title:By: BCP VI/BEP Holdings Manager L.L.C., its general partner, By: Robert Brooks, Authorized Signatory
Date:08/21/2025
BCP VI/BEP Holdings Manager L.L.C.
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory
Date:08/21/2025
Blackstone Energy Management Associates L.L.C.
Signature:/s/ Robert Brooks
Name/Title:By: Blackstone EMA L.L.C., its sole member, By: Robert Brooks, Authorized Signatory
Date:08/21/2025
Blackstone Management Associates VI L.L.C.
Signature:/s/ Robert Brooks
Name/Title:By: BMA VI L.L.C., its sole member, By: Robert Brooks, Authorized Signatory
Date:08/21/2025
Blackstone EMA L.L.C.
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory
Date:08/21/2025
BMA VI L.L.C.
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory
Date:08/21/2025
RRR Aggregator LLC
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory
Date:08/21/2025
BX Primexx Topco LLC
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory
Date:08/21/2025
BCP VII/BEP II Holdings Manager L.L.C.
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory
Date:08/21/2025
Blackstone Energy Management Associates II L.L.C.
Signature:/s/ Robert Brooks
Name/Title:By: Blackstone EMA II L.L.C., its sole member, By: Robert Brooks, Authorized Signatory
Date:08/21/2025
Blackstone Management Associates VII L.L.C.
Signature:/s/ Robert Brooks
Name/Title:By: BMA VII L.L.C., its sole member, By: Robert Brooks, Authorized Signatory
Date:08/21/2025
Blackstone EMA II L.L.C.
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory
Date:08/21/2025
BMA VII L.L.C.
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory
Date:08/21/2025
Blackstone Holdings III L.P.
Signature:/s/ Victoria Portnoy
Name/Title:By Blackstone Holdings III GP L.P., By Blackstone Holdings III GP Management L.L.C., By Victoria Portnoy, Managing Director - Assistant Secretary
Date:08/21/2025
Blackstone Holdings III GP L.P.
Signature:/s/ Victoria Portnoy
Name/Title:By: Blackstone Holdings III GP Management L.L.C., its general partner, By: Victoria Portnoy, Managing Director - Assistant Secretary
Date:08/21/2025
Blackstone Holdings III GP Management L.L.C.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, Managing Director - Assistant Secretary
Date:08/21/2025
Blackstone Inc.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, Managing Director - Assistant Secretary
Date:08/21/2025
Blackstone Group Management L.L.C.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, Managing Director - Assistant Secretary
Date:08/21/2025
Stephen A. Schwarzman
Signature:/s/ Stephen A. Schwarzman
Name/Title:Stephen A. Schwarzman
Date:08/21/2025

FAQ

What does the Schedule 13G/A for Sitio Royalties (STR) disclose?

The filing discloses that multiple Blackstone-related Reporting Persons report 0.00 shares and 0.0% ownership of Sitio's Class A Common Stock (CUSIP 82983N108).

What happened to Sitio's Class C common stock in the merger?

On August 19, 2025, each share of Sitio's Class C common stock was automatically cancelled and ceased to exist pursuant to the merger agreement.

How were Sitio Opco units converted in the transaction?

Each Opco unit converted into 0.4855 units of Viper Energy Partners LLC and 0.4855 shares of Class B common stock of Viper Energy, Inc.

Do the Blackstone Reporting Persons claim beneficial ownership of Sitio Class A shares?

The filing states that the Reporting Persons may be deemed to beneficially own shares held by the Blackstone Funds but expressly disclaims beneficial ownership for the other Reporting Persons.

Who signed the Schedule 13G/A for the Blackstone entities?

Authorized signatories include Robert Brooks for multiple entities and Victoria Portnoy and Stephen A. Schwarzman for others, all dated 08/21/2025.
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