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August 2016 Investor Presentation – Diamondback Energy, Inc.

Diamondback Energy, Inc. · Aug 3, 2016 · 24 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. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 1
    Investor Presentation August 2016 1
  2. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 2
    Diamondback Energy Overview Quality Acreage in Northern Midland Basin 86,000 net acres containing 2,700+ gross Diamondback Energy Acreage Map locations 1,500 gross locations economic at 40/bbl WTI(1) 2,200 gross locations economic at…
  3. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 3
    Recent Highlights Q2 2016 production of 36.8 Mboe/d, 23% y/y growth from 30.0 Mboe/d in Q2 2015 Q2 2016 Review Diamondbacks five Glasscock County wells tracking 1 MMboe type curve on average Completed first three-well pad in Howard…
  4. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 4
    Strategic Entry into the Core of the Southern Delaware Basin Recently signed agreement to acquire Acquisition Acreage Map 19,180 net acres primarily in Reeves and Ward Counties along the Pecos River for 560 million Production of…
  5. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 5
    Attractive Southern Delaware Basin Acquisition Strategic rationale for acquisition Permian Basin Net Acreage The Company believes acreage contains significantly more oil in place than in the Northern Midland Basin 105,002 Stacked…
  6. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 6
    Delaware Basin Acquisition: Outstanding Offset Well Results Jim Ed 2H Autobahn 34-117 4H Pitzer 8 2H Pitzer-Lasater State 1H Lasater 3 Centennial Cimarex Cimarex Cimarex Chevron IP30: 2,134 Boepd (84% oil) IP30: 1,180 Boepd (86% oil)…
  7. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 7
    Geology Comparison to Top Value Midland Basin Assets N. Midland Basin (Spanish Trail) Delaware Acquisition Acreage Upside Development 120 MMBO/SEC EASTERN SHELF Upside Development 200 MMBO/SEC Core Development 100…
  8. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 8
    Core Southern Delaware Basin Trend Area High Productivity and Oil Content Wolfcamp and Bone Spring Heat Map(1) Cumulative Percent Oil Map(2) Delaware Heat data 3 Month Boe/d 1000 Gas 200+ Weighted 200 Oil Percentage Area 150 Oil…
  9. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 9
    Delaware Basin Stacked Pay Provides Extensive Development Potential Delaware Basin Peers Acquisition Reeves County Ward County Northern Delaware (1) 1st Bone Spring 2nd Bone Spring (59 net locations) 3rd Bone Spring (59 net…
  10. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 10
    Viper Overview Asset Overview Pro forma 5,357 net royalty acres(1) in core of Permian Basin Viper Execution Post June 2014 IPO: 70% growth in net royalty acreage 200% growth in gross hz. locations 185% growth in production…
  11. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 11
    Vipers Attractive Mineral Interest Acquisitions Recently signed agreements to acquire mineral interests underlying 8,137 gross acres in Midland and Delaware Basins for total price of 111 million Accretive on net asset value, yield and…
  12. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 12
    Early Howard County Rates Confirm Productivity Encouraging first results in Howard County: Howard County Activity Normalized for 7,500 Lateral(1) Reed 1A 1LS Adams 4231WA Recently completed first three-well pad Diamondback Lateral…
  13. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 13
    Glasscock County Wells Continue to Impress Glasscock County Activity Normalized for 7,500 Lateral(1) Average well tracking near 1,000 Mboe type curve Riley B 1807WA Riley C 1807WB Testing various landing depths and completion…
  14. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 14
    Robust, Multi-year Inventory in the Midland Basin Northern Midland Basin Scenario Analysis(1) Midland Basin Acreage Position WTI of Gross Years of Drilling (at (/bbl) Locations of Rigs Midpoint)(2) 35 - 45 1,500 23 30 45 - 55…
  15. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 15
    Best in Class Execution and Cost Control Drilling Cost Reductions Since Q4 2014(1) FANG vs. Peer Estimated Well Costs (/lateral ft)(2) 3.2 933 2.5 2.1 1.9 1.8 1.7 733 693 700 693 673 653 Q4 2014 Q2 2015 Q3 2015 Q4 2015…
  16. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 16
    Best in Class Cost Optimization & Conservative Financial Metrics Operating Expenses Below Peer Average(1) (/boe) Diamondback Peers Cash Margins Expected to Lead Peers in 2017(1)(2) 20.91 31.72 15.37 15.34 26.06 12.22 12.38 11.23…
  17. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 17
    Liquidity Strength Creates Capital Flexibility FANGs Liquidity and Capitalization Net Debt to Trailing Twelve Months Adjusted EBITDA of 0.8x(2) FANG's Consolidated Capitalization as of 6/30/16 (MM) Strong balance sheet with the…
  18. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 18
    Q2 2016 Operations and Guidance Update Increased full year 2016 production guidance range Diamondback Viper Energy Energy, Inc. Partners LP to 38.0 40.0 Mboe/d, up 11% from the midpoint of the February 2016 guidance range Net…
  19. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 19
    Vipers Yield and Financial Flexibility Pro forma liquidity of 126 million(1) after the closing Acquisitions and WTI Pricing Changes of July equity offering and recent and pending acquisitions Pipeline of deal flow has increased…
  20. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 20
    Top Tier Economics Driving Rig Activity Oil Breakevens by Basin (15% ATAX IRR)(1) 82.45 83.25 (Net Diamondback (440) (118) (336) Locations per area) (339) (172) Permian 70.64 70.39 65.44 64.88 90 58.30 56.85…
  21. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 21
    Robust Multi-year Undeveloped Inventory in the Midland Basin 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…
  22. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 22
    Lower Spraberry Type Curve & Economics at 50 Oil Midland County Type Curve Economics ROR Sensitivity EUR, 2 Stream Mboe 990 EUR Mboe Peak 30 day IP, boe/d 1,030 650 810 990 1,200 Well Cost MM Oil %, 2 stream basis 79% 4.5…
  23. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 23
    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.…
  24. August 2016 Investor Presentation – Diamondback Energy, Inc. – slide 24
    Midland Basin Reserves Summary Total Reserves Growth (MMboe) (1) Proved Reserves Represent Nearly a Decade of Reserve Life(2) FANG Standalone VNOM 156.9 2015 total proved reserves increased 39% y/y to 156.9 MMboe 26.3 112.8…

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