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…
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…
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…
1. Delaware Basin Update 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%…
Initial Southern Delaware Well Results Exceeding Expectations EUR Data (MBOE) Frac…
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…
10 2. Midland Basin & Operations Update 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…
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…
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…
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…
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…
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)…
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…
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…
Rate of Return Driven Strategy Significant Resource Potential Conservative Financial Management Strategic Acquisitions Efficient Conversion of Resource to Cash Flow 20
APPENDIX 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%…
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…
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…
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…
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…
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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