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Investor Presentation March 2017 – Diamondback Energy, Inc.

Diamondback Energy, Inc. · Mar 30, 2017 · 27 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. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 1
    March 2017 Investor Presentation
  2. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 2
    Diamondback Highlights Increased Q4 2016 production 16% q/q to 51.9 Mboe/d with cash OPEX down 7% q/q Closed Delaware Basin acquisition of Brigham Resources assets for 2.55 billion Recent Highlights Midland Basin results exceeding…
  3. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 3
    Diamondback Energy: Leading Pure-play Permian Operator Permian pure-play with 186,000+ net acres Diamondback Acreage Map Six core areas with 1,000 Mboe+ EURs in multiple intervals Significant resource upside from zone delineation and…
  4. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 4
    1. Delaware Basin Update 5
  5. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 5
    Southern Delaware Basin: Shifting to Execution ReWard - 560MM (Closed September 2016) Brigham - 2.55B (closed February 28) 20,000 net leasehold acres in Reeves and Ward counties 80,000+ net leasehold acres in Pecos and Reeves…
  6. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 6
    Reservoir Quality: Basin Axis, Thickness, Overpressure, High Oil Cut Wolfcamp A Structure Map (SSTVD) Wolfcamp A Shale Isopach Map Acreage located in southern Delaware Basin, along the structural axis Wolfcamp A depocenter thicker…
  7. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 7
    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…
  8. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 8
    Southern Delaware: Landing Targets and Upside Potential Wolfcamp Type Log Bone Spring Type Log High-graded landing targets based on Significant upside in Avalon and 1st Bone Spring petrophysical and geo-mechanical properties Proven…
  9. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 9
    Southern Delaware Basin Execution Development Plan: Prior Operator Completion Vintage Currently running 1 rig in ReWard; 1st Pecos County rig to Frac Proppant Fluid Cluster Clusters/ Generation (Lbs./Ft.) (Bbl/Ft.) Spacing (Ft.) Stage…
  10. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 10
    Wolfcamp A: EUR by Completion Vintage Diamondback plans to use a completion design closest to prior operators 3rd and 4th generation designs. EUR Data (MBOE) Frac…
  11. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 11
    First FANG-Operated Pecos Co. Completion Outperforming Expectations First FANG-designed completion flowing back Wolfcamp A Completion Optimization now Operator Brigham Diamondback Well / Lateral Length Rock River State 30 1H / 4,651'…
  12. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 12
    2017 Development Plan Focused on High RoR Wolfcamp A Central 2017 Development Activity Area- Production Normalized to 7,500' 340,000 NEAL LETHCO STATE 24-23 1H (LWR WCA-Gen 6) Central Type Log and Landing Targets 320,000 NEAL LETHCO…
  13. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 13
    Additional Proven Targets in Bone Spring and Wolfcamp B Considerable uplift from recent Bone Spring well switching to ESP Plan to complete one well targeting the 2nd Bone Spring and one well targeting the 3rd Bone Spring in Q2 2017…
  14. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 14
    Additional Proven Target Detail 240,000 Additional Proven Targets & Elijah 2-6 Update - Production Normalized to 7,500' Central Type Log and Landing Targets NEAL LETHCO 18 1H (UPR 2BS-Gen 4) MCINTYRE STATE 38 1H (UPR 2BS-Gen 4) FANG…
  15. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 15
    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) IP30:…
  16. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 16
    17 2. Midland Basin & Operations Update 17
  17. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 17
    Midland Basin: 2017 Action Plan Currently running five rigs: Howard County Performance 2 - 3 in Midland / SW Martin counties 1 in Howard County 1 in Glasscock County 1 in Martin / Andrews counties Running two completion crews: High…
  18. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 18
    Midland Basin: Full Development Mode 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 service cost…
  19. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 19
    Efficiently Converting Resource Into Cash Flow Well productivity and low cost operations promote timely payback Assuming 15% frac inflation and 50/Bbl NYMEX oil prices, 7,500 ft. Midland Co. Lower Spraberry wells expected to payback…
  20. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 20
    Conservatively Spaced, Balanced Inventory in Midland and Delaware Basins Inventory reflects conservative spacing assumptions; continue to test downspacing and monitor industry activity 86% of horizontal well locations have lateral…
  21. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 21
    Strong Margins and Balance Sheet Provide Operational Flexibility Operating Expenses Below Peer Average (/boe)(1) Cash Margins ExpectedDiamondback to Lead Peers in 2018(2) ProPeers Forma Net Debt to Annualized EBITDA(3) FY2014 Peers…
  22. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 22
    High Growth, 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 31.4 58%…
  23. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 23
    Updated Hedge 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 Q2…
  24. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 24
    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 during Q4…
  25. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 25
    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…
  26. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 26
    Rate of Return Driven Strategy Significant Resource Potential Conservative Financial Management Strategic Acquisitions Efficient Conversion of Resource to Cash Flow 27
  27. Investor Presentation March 2017 – Diamondback Energy, Inc. – slide 27
    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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