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May 2016 Investor Presentation – Diamondback Energy, Inc.

Diamondback Energy, Inc. · May 4, 2016 · 23 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. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 1
    Investor Presentation May 2016
  2. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 2
    Diamondback Energy Overview Quality Acreage in Northern Midland Basin 85,000 net acres containing 2,700+ gross total locations 1,500 gross locations economic at 40 per bbl WTI1 2,200 gross locations economic at 50 per bbl WTI1 Best in…
  3. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 3
    Recent Highlights 1Q16 production of 38.3 Mboe/d, 25% y/y growth from 30.6 Mboe/d in 1Q15 1Q16 Review Diamondbacks five Glasscock County wells tracking 1 MMboe type curve on average Drilled two three-well pads in Howard County that…
  4. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 4
    Robust, Multi-year Inventory Scenario Analysis1 WTI of Gross Years of Drilling (at (/bbl) Locations of Rigs Midpoint)2 35 - 45 1,500 23 30 45 - 55 2,200 34 31 55 - 65 2,400 46 24 65 - 75 2,600 68 19 Poised to respond to…
  5. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 5
    Encouraging Results in Glasscock County Shackelton 31W 3HM Flanagan 14 Loyd A 21H Apache Pioneer IP30: 1,886 boe/d (83% oil) IP30: 885 boe/d (89% oil) Lateral Length: 4,426 Lateral Length: 7,202 Saxon C 1101WB King D 4907H Diamondback…
  6. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 6
    Glasscock County Well Performance Note: Daily production normalized for operational shut-ins. Type curves based on normalized 7,500 laterals; actual lateral lengths vary. 7
  7. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 7
    Offset Activity in Howard County Adams 4231WA Wright 44-41 3H Gardner Unit 15-10 2H Element Occidental Element IP30: 724 Boepd (91% oil) Adams 4201WA IP30: 1,841 Boepd (89% oil) IP30: 929 Boepd (91% oil) EUR: 802 MBOE Occidental…
  8. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 8
    Best in Class Cost Optimization & Conservative Financial Metrics Operating Expenses Below Peers1 (/boe) FANG Expected to Lead Peers in Pre-Hedge Margins in 20162 Diamondback Peers LOE Prod. Taxes G&A (Cash & Non-Cash) Peer Avg. /boe…
  9. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 9
    Best in Class Execution Days vs Depth Hz Diamondback Peers Howard County Days Glasscock County 0 5 10 15 20 0 5 10 15 20 0 0 4,000 4,000 8,000 8,000 12,000 12,000 16,000 16,000 20,000 20,000 Days vs Depth Hz…
  10. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 10
    Diamondback Has Reduced Costs in Current Commodity Environment Cooperation with service cost providers and efficiency gains Breakdown of Current Well Costs1 have led to further reductions in drill, complete and equip Directional costs…
  11. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 11
    Lease Operating Expense Reductions Breakdown of Current Lease Operating Expenses Lowered 2016 LOE per BOE guidance to 5.50-6.50/boe from 6.00-7.00/boe Utilities Rentals 5% Surface Overhead / Comp Repairs previously 7% 2% 19%…
  12. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 12
    Liquidity Strength Creates Capital Flexibility FANGs Net debt to annualized 1Q16 EBITDA of 1.1x2 Liquidity and Capitalization Agent lender recommended change of FANGs borrowing base to FANG's Capitalization as of 3/31/16 (MM) 700…
  13. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 13
    Diamondback Energy 2016 Guidance1 Diamondback Capital Activity Diamondback Viper Energy Gross Horizontal Wells Completed 35 70 Energy, Inc. Partners LP Gross Horizontal Well Costs3 5.0 5.5 mm Net Production Mboe/d1 34.0 38.0 6.0 6.5…
  14. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 14
    Vipers Organic Growth and Yield Current market capitalization of 1.5 B1 WTI Pricing Changes 120.00 1Q16 cash distribution of 0.149 per unit 100.00 80.00 Co-Bid strategy with Diamondback 60.00 Unhedged vehicle provides upside for…
  15. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 15
    In Conclusion Diamondback Energy is a low-cost operator in one of the highest return basins. Complementary acreage additions Midland Basin focused Maintain operations excellence Efficient capital allocation Debt/Adjusted EBITDA…
  16. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 16
    APPENDIX 17
  17. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 17
    Robust Multi-year Undeveloped Inventory Identified Gross Potential Drilling Locations PUD Locations 298 2,761 523 77 262 409 660 532 Wolfcamp B Lower Spraberry Middle Clearfork Wolfcamp A Wolfcamp C Cline Total Spraberry…
  18. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 18
    Reserves Summary Proved Reserves Represent Over a Decade of Total Reserves Growth1 (MMboe) Reserve Life2 FANG Standalone VNOM 2015 total proved reserves increased 39% 156.9 y/y to 156.9 MMboe 26.3 112.8 Diamondbacks standalone…
  19. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 19
    Lower Spraberry Type Curve & Economics at 50 Oil Midland County Type Curve Economics ROR Sensitivity EUR, 2 Stream Mboe 990 EUR Mboe Well Cost MM Peak 30 day IP, boe/d 1,030 650 810 990 1,200 Oil %, 2 stream basis 79% 4.5…
  20. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 20
    Resilient Lower Spraberry Economics in Spanish Trail Spanish Trail Lower Spraberry Economics 350% 300% 250% Rate of return 200% 150% 100% 50% 0% 30/bbl 40/bbl 50/bbl 60/bbl (1) (1) 5.0MM (excl. Viper) 5.5MM (excl.…
  21. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 21
    Viper Energy Partners Viper Overview Gross Net Royalty Viper Energy Partners LP (Viper or VNOM) was formed by Diamondback, Acres Acres which now owns 88% Cash distribution of 0.149 per unit declared for 1Q16 Midland Basin 39,300…
  22. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 22
    Viper Energy Partners Landmark IPO of Mineral Interests September 2013 - acquired 14,804 gross acres of minerals in the core of the Northern Midland Basin Non-traditional investment for an E&P company Diamondback creates a variable MLP…
  23. May 2016 Investor Presentation – Diamondback Energy, Inc. – slide 23
    Development of Viper Energys Spanish Trail is Well Underway Operators Incentivized to Drill Two Dedicated Hz Drillers 21.4% average revenue interest in 15,460 gross acres in Midland County known as Spanish Trail Viper does not pay…

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