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March 2014 Investor Presentation – Diamondback Energy, Inc.

Diamondback Energy, Inc. · Mar 24, 2014 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 1
    Investor Presentation March 2014
  2. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 2
    Diamondback Energy Overview Diamondback Energy Acreage Aggressive Developer of Horizontal Inventory - Currently running 5 horizontal and 1 vertical rig - Execution focus drives peer leading performance February 2014 Volume and…
  3. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 3
    A Growth Story Average Daily Net Production (MBOEPD)1 Total Reserves Growth1 (MMBOE) Proved Developed 4 Oil Acquisition of Proved Developed (72.6% WI) 70.5 Gas/NGLs Proved Undeveloped 2 Acquisition Production February 2014 (72.6%…
  4. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 4
    Multi-year Inventory Continues to Grow Identified Net Potential Drilling Locations 1,027 3,102 February 2014 Acquisition Locations (72.6% WI) 968 106 316 640 862 30 151 286 40-Acre Additional Wolfcamp B Additional 20-Acre…
  5. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 5
    Peer Leading in Cash Margins Cash Margins Exceed Peers by Nearly 40%1,2 FANG Operating Expenses Over Time3 (/BOE) FANG Peer Average FANG Realized Price (/boe) 27.83 General and Administrative 84.67 Taxes and Other 21.96 LOE 79.14…
  6. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 6
    Horizontal Execution Peer Leading Performance Drilling /Lateral Foot1 (Midland County) Spud to TD1 (Days) Midland County Upton County 530 21.3 510 17.9 490 16.6 470 14.0 450 430 410 390 370 350 1/1/13 7/1/13 12/31/13 First 6 mos.…
  7. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 7
    Horizontal Development Exceeding Expectations Results exceeding expectations in Northern Midland Basin where most of Diamondbacks acreage is located Martin County recent acquisition acreage in core of Northern Midland Basin Previous…
  8. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 8
    Diamondback Energy Minerals Ownership Impact Completed the acquisition of mineral interests Two Dedicated Hz Drillers under 15,000 gross (12,500 net) acres in Ector Midland Midland County in September 2013 Diamondback receives an…
  9. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 9
    Encouraging Horizontal Results in Multiple Benches FANG UL III 4-1H Wolfcamp B FANG Kent CSL A 17-1H Wolfcamp B 24-hr IP: 613 BOEPD Well drilled to 7,975 lateral length Peak 30-day avg. rate: 440 BOEPD; 83% oil Frac scheduled 4,051…
  10. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 10
    Diamondback Energy - Financial Summary Revenue Growth1 ( in MMs) Hedging IPO Average Bbls Average Price 75.9 Oil Swaps 2014 Per Day Per Bbl First Quarter-LLS 2,655 99.60 57.8 First Quarter-Brent 1,000 109.70 45.4 Second…
  11. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 11
    Diamondback Energy - 2014 Capital Program Drilling Program1 2014E Capital Expenditures 65-75 gross horizontal and 20-25 gross Infrastructure Non-Op vertical wells planned for 2014 5% 2% Average Hz lateral length (all wells) 6,660…
  12. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 12
    Diamondback Energy - 2014 Guidance Diamondback Excluding Diamondback Minerals Minerals Energy Total Net Production MBoe/d 12.5 13.0 2.5 3.0 15.0 16.0 Unit costs (/boe) Lease operating expenses1 7.00 - 8.00 0.00 6.00 - 7.00 G&A…
  13. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 13
    In Conclusion Complementary acreage additions Midland Basin focused Maintain operations excellence Efficient capital allocation Target Debt/EBITDA < 2X Additional testing in other shale benches Stacked laterals in multiple…
  14. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 14
    APPENDIX 14
  15. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 15
    Spraberry Type Curve Results Exceeding Expectations Lower Spraberry Type Curve is 650 MBOE (2 stream) with 81% oil (87% oil 1st year). 3 stream equivalent is 692 MBOE - Represents a 30% increase over previous EUR estimates and a 60%…
  16. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 16
    Wolfcamp B Type Curve Positive Revisions to North Area Type Curve is 638 MBOE (2 stream) with 74% oil (85% oil 1st year). 3 stream equivalent is 695 MBOE - Represents a 6% increase over previous EUR estimates and a 23% increase in…
  17. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 17
    Wolfcamp B Type Curve South Area Results East Upton Type Curve is 604 MBOE (2 stream), with 72% oil (80% oil 1st year). 3 stream equivalent is 671 MBOE - Represents no change to prior estimates West Upton Type Curve is 463 MBOE (2…
  18. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 18
    Martin County Asset Acquisition Overview Martin County Acreage 42 7,000 Hz On February 28, 2014 acquired 6,450 gross (4,683 net) Wolfcamp B and 42 acres in Martin County in Midland Basin for 288 MM Lower Spraberry Martin Co. from…
  19. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 19
    Compelling Acquisition Adds Attractive Horizontal Inventory Key Benefits Additive to concentrated horizontal story Midland Basin Net Acreage Current Net Production (BOEPD)1 Complementary contiguous acreage block with stacked pay…
  20. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 20
    3 Stream Effect on EUR - MBOE Oil Gas NGLs 2 Stream 3 Stream1 695 692 671 638 650 88 617 121 604 134 565 121 519 76 109 169 105 169 463 152 103 110 94 426 385 138 92 84 127 77 529 529 469 469 435 435 413 413…
  21. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 21
    Downspacing Results Encouraging 160 Acre Hz Spacing (880 inter-lateral spacing) 120 Acre Hz Spacing (660 inter-lateral spacing) 7,500 lateral 7,500 lateral Prospective Horizons: Clearfork 40-acre spacing Pilottest wells show no…
  22. March 2014 Investor Presentation – Diamondback Energy, Inc. – slide 22
    EBITDA Reconciliation ( in thousands) Year ended December 31, Three Months Ended 2009 2010 2011 20121 2013 12/31/2013 Reconciliation of Adjusted EBITDA to Net Income (Loss): Net Income (Loss) (2,706) 8,231 (386) (29,764) 54,587…

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