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February 2017 Investor Presentation – Diamondback Energy, Inc.

Diamondback Energy, Inc. · Feb 15, 2017 · 26 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. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 1
    Investor Presentation February 2017
  2. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 2
    Recent Highlights Increased production 16% q/q to 51.9 Mboe/d with cash operating expenses down 7% q/q Announced Delaware Basin acquisition of Brigham Resources assets for 2.43 billion Q4 2016 Review Midland Basin results exceeding…
  3. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 3
    Diamondback Energy: Leading Pure-play Permian Operator Permian pure-play with 182,000+ pro forma net acres Diamondback Acreage Map Six core areas with 1,000 Mboe+ EURs in multiple intervals Significant resource upside from zone…
  4. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 4
    Conservatively Booked, Oil Weighted Reserves 2016 total proved reserves increased 31% y/y Total Reserves Growth (MMboe) (1) to 205.5 MMboe FANG Standalone VNOM FANG standalone reserves increased 33% y/y to 205.5 174.0 MMboe 156.9…
  5. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 5
    6 1. Midland Basin Update 6
  6. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 6
    Howard County: Proven Productivity in Three Zones Second operated three-well pad continues to exceed Howard County Activity expectations and outperform the first three-well pad: Reed 1A 1WA Optimized landing zones and utilized…
  7. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 7
    Glasscock County: Results Continue to Impress Completed two Wolfcamp A wells and two Lower Glasscock County Activity Spraberry wells in Q4 2016: Ray 3427 A 4WA Riley B 1807WA Wolfcamp A wells each producing over 1,400 boe/d…
  8. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 8
    Andrews and Martin Co.: Underappreciated Spraberry Resource Recent Carpenter and Mabee Breedlove completions exceeding expectations Plan to run 1 rig on acreage in 2017 Source: Company Information. All EURs and 30-day rates are…
  9. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 9
    2. Delaware Basin Update 10
  10. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 10
    Summary of 2016 Southern Delaware Basin Acquisitions ReWard - 560MM (Closed September 2016) Brigham - 2.43B (expected to close February 28) 19,943 net leasehold acres in Reeves and Ward counties 76,319 net leasehold acres in Pecos…
  11. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 11
    Proven Economic Results Across Four Distinct Zones Brigham Well Results Norm IP30 (Boe/d/1,000) Wolfcamp A Shaffrath 26 1H Peak 30 (per 1,000): 211 Boe/d (88% oil) Wolfcamp B Lateral Length: 4,675 2nd Bone Spring 3rd Bone Spring…
  12. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 12
    Pecos County Compares Favorably to Midland Basin and Reeves Co. 1 Brigham Type Log 2 ReWard Type Log(1) 3 Spanish Trail Type Log Avalon Shale Avalon Shale Lower Clearfork Shale Upper 1st Bone Spring 2,150 of hydrocarbon…
  13. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 13
    Brighams Southern Delaware Geology Indicates Prolific Reservoir Wolfcamp A Structure Map (SSTVD) Wolfcamp A Shale Isopach Map Acreage located in southern Delaware Basin, along the structural axis Wolfcamp A depocenter thicker shale,…
  14. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 14
    ReWard: Offset Well Results Continue to Improve Pitzer 8 2H Pitzer-Lasater State 1H Autobahn 34-117 4H Lasater 3 Cimarex Cimarex Cimarex Chevron IP30: 1,182 boe/d (82% oil) IP30: 2,011 boe/d (86% oil) IP30: 1,180 boe/d (86% oil)…
  15. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 15
    16 3. Operations & Financial Update 16
  16. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 16
    Prior Execution Sets Up Accretive Future Growth 2016 average D,C&E costs per completed lateral foot down 41% from 2014 average; average completed lateral length up 30% over same time period Conservative 2017 forecast incorporates…
  17. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 17
    Efficiently Converting Resource Into Cash Flow Well productivity and low cost operations promote timely payback Assuming 15% frac inflation and current strip prices, 7,500 ft. Midland Co. Lower Spraberry wells expected to payback 92%…
  18. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 18
    Conservatively Spaced, Balanced Inventory in Midland and Delaware Basins Inventory reflects highly conservative spacing versus peers; significant additional upside from downspacing success 86% of pro forma horizontal well locations have…
  19. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 19
    Strong Margins and Balance Sheet Support Accretive Growth Operating Expenses Below Peer Average (/boe)(1) Cash Margins ExpectedDiamondback to Lead Peers (/boe)(2) ProPeers Forma Net Debt to Annualized EBITDA(3) 20.91 15.37 15.34…
  20. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 20
    Diamondback Midstream Summary Diamondback plans to spend 75 million on one-time midstream investments in 2017 to maximize cash margins per barrel and own on-lease assets to maximize future value. Diamondback owns oil gathering assets…
  21. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 21
    Viper Update Variable Rate MLP structure: 100% of all available cash is returned to unitholders Unique production growth and yield vehicle volumes increased 244% since IPO in June 2014 Focused on mineral acquisitions in oil-weighted…
  22. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 22
    Liquidity Strength Creates Capital Flexibility Pro Forma Net Debt to Q4 2016 Annualized Adjusted FANGs Liquidity and Capitalization EBITDA of 1.5x(1)(2) FANG's Consolidated Capitalization 12/31/2016 Pro Forma(1) In December, FANG…
  23. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 23
    Current Hedging Summary Recently added hedges provide downside protection at no cost to Diamondback, while maximizing upside exposure to rising commodity prices Crude Oil (Bbls/day, /Bbl) Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 FY…
  24. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 24
    Pro forma 2017 Guidance Diamondback Viper Energy Achieved 30% annual production growth in 2016 Energy, Inc. Partners LP despite contracted activity for bulk of 1H16 Net Production Mboe/d 69.0 76.0 8.0 8.5 Average daily production…
  25. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 25
    Rate of Return Driven Strategy Significant Resource Potential Conservative Financial Management Strategic Acquisitions Efficient Conversion of Resource to Cash Flow 26
  26. February 2017 Investor Presentation – Diamondback Energy, Inc. – slide 26
    Diamondback Energy Corporate Headquarters Adam Lawlis, Investor Relations 500 West Texas Ave., Suite 1200 (432) 221-7400 Midland, TX 79701 irdiamondbackenergy.com www.diamondbackenergy.com

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