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Q1 2017 Investor Presentation – Diamondback Energy, Inc.

Diamondback Energy, Inc. · May 4, 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. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 1
    Investor Presentation May 2017
  2. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 2
    Diamondback Q1 2017 Highlights Increased Q1 2017 production 19% q/q to 61.6 Mboe/d with realized prices up 8% q/q Closed Delaware Basin acquisition of Brigham Resources assets for 2.55 billion Q1 Highlights Strong early performance…
  3. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 3
    Diamondback Energy: Leading Pure-play Permian Operator Permian pure-play with 189,000+ net acres Diamondback Acreage Map Six core areas with 1,000 Mboe+ EURs in multiple intervals Significant resource upside from zone delineation and…
  4. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 4
    Strong Acquisition Track Record and Subsequent Execution 6,000 80,000 Southern Delaware 2.55 billion 70,000 5,000 60,000 Southern Delaware 4,000 560 million Net Production (Boe/d) 50,000 Acquisitions (mm) 3,000…
  5. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 5
    1. Delaware Basin Update 6
  6. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 6
    Southern Delaware Basin Execution Well Results: Diamondback Delaware Basin Completion Design First ReWard Wolfcamp A (WCA) commenced with Completion Design Slickwater with Diverter peak 15-day IP rate of 210 boe/d per 1,000 (88%…
  7. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 7
    Initial Southern Delaware Well Results Exceeding Expectations EUR Data (MBOE) Frac…
  8. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 8
    2017 Development Plan Focused on High RoR Wolfcamp A 340,000 Central 2017 Development Activity Area- Production Normalized to 7,500' Central Type Log and Landing Targets 320,000 FANG 300,000 Primary 280,000 Prior Operator Target…
  9. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 9
    10 2. Midland Basin & Operations Update 10
  10. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 10
    Midland Basin: Continued Best in Class Execution Currently running six rigs: Midland Basin Well Performance IP30 2 - 3 in Midland / SW Martin counties COUNTY PAD TARGET LATERAL IP30(1) (Boe/d / 1k) HOWARD - BULLFROG 47 NORTH UNIT…
  11. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 11
    Midland Basin: Full Development Mode and Cost Control Estimated Q1 2017 cost per completed lateral foot of 622, down 5% from Q4 2016; current estimated Midland Basin well costs of 225 to 275 per foot for drilling and 300 to 350 per…
  12. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 12
    Efficiently Converting Resource Into Cash Flow Well productivity and low cost operations promote timely payback At 50/Bbl NYMEX oil prices, cash flow from 7,500 ft. Midland County Lower Spraberry and Southern Delaware Basin Wolfcamp A…
  13. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 13
    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…
  14. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 14
    Strong Margins and Balance Sheet Provide Operational Flexibility Operating Expenses Below Peer Average (/boe)(1) Cash Margins ExpectedDiamondback to Lead Peers in 2018(2) NetPeers Debt to Annualized Q1 2017 EBITDA(3) FY2014 Peers…
  15. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 15
    Current Hedge Summary Hedging strategy focused on maximizing upside exposure to rising commodity prices Crude Oil (Bbls/day, /Bbl) Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 10,000 14,000 14,000 11,000 9,000 5,000…
  16. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 16
    Liquidity Strength Creates Capital Flexibility Net Debt to Q1 2017 Annualized Adjusted FANGs Liquidity and Capitalization EBITDA of 1.4x(1); continue to target leverage FANG's Consolidated Capitalization 3/31/2017 below 2.0x (MM)…
  17. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 17
    2017 Guidance Average daily production during Q1 2017 Diamondback Viper Energy Energy, Inc. Partners LP was 61.6 Mboe/d (75% oil), up 19% from Q4 Net Production Mboe/d 69.0 76.0 8.5 9.5 2016; 74% oil growth since Q2 2016 Unit Costs…
  18. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 18
    Viper Update Q1 2017 production up 8% and realized prices up 9%; cash distributions of 0.302 per unit, up 17% over Q4 2016 and the highest in Vipers history Variable Rate MLP structure: 100% of all available cash is returned to…
  19. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 19
    Rate of Return Driven Strategy Significant Resource Potential Conservative Financial Management Strategic Acquisitions Efficient Conversion of Resource to Cash Flow 20
  20. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 20
    APPENDIX 21
  21. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 21
    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%…
  22. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 22
    Focus on the Most Economic Plays Reduces Commodity Risk Oil Breakevens by Basin (15% BTAX IRR)(1) Diamondback Core Permian 47.80 45.13 Development Areas 44.04 43.49 41.95 60 40.73 40.63 38.04 37.22 36.61…
  23. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 23
    Southern Delaware 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…
  24. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 24
    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…
  25. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 25
    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…
  26. Q1 2017 Investor Presentation – Diamondback Energy, Inc. – slide 26
    Diamondback Energy Corporate Headquarters Adam Lawlis, Director, Investor Relations 500 West Texas Ave., Suite 1200 (432) 221-7400 Midland, TX 79701 irdiamondbackenergy.com www.diamondbackenergy.com

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