Diamondback Energy: Leading Pure-play Permian Operator Large Cap Permian pure-play E&P Diamondback Acreage Map 342,000 net Midland and Delaware basin acres(1) 7,600 net horizontal locations(1) Industry leading corporate returns,…
Diamondback: Investment Highlights Q2 2019 Adjusted EBITDA/Share of 4.68; highest in Company history Q2 2019 production of 280.4 Mboe/d (68% oil), up 7% q/q and 149% year over year Q2 Highlights Updated CAPEX guidance of 2.725 -…
Per Share Execution and 2019 Activity Overview Year Over Year Execution & Integration 2019 Production and Activity Outlook Q2 2018 Q1 2019 Q2 2019 (Pre-Merger) Daily Production Targeting 28%+ y/y oil growth with free cash flow(1)…
Execution and Per Share Value Creation Track Record Production Growth vs. Bottom Line Growth since FANG IPO(1) E&P Capital Efficiency Study: Historical Recycle Ratios(2) FANG Permian Large Cap Large Cap E&P FANG SMID Cap Large Cap SMID…
Evolution of Diamondbacks Capital Allocation Strategy Diamondback has been an industry leader in consistent capital discipline; particularly in the ability to grow within cash flow, react quickly and responsibly to commodity price…
Commitment to Disciplined Growth and Return of Capital 2019 budget targets a business plan that operates within cash flow even at challenging commodity prices Capital allocation strategy reflects a mix of growth and increasing return…
Accretive Growth on Absolute and Per Unit Basis Diamondback has a track record of strategic acquisitions that are focused on per unit stockholder value accretion Differential cost structure has been paramount to integration success…
Substantial Economic Inventory with Conservative Spacing Assumptions Diamondback has consistently maintained conservative spacing assumptions, preferring an at least strategy to a best case scenario strategy Net Midland Basin…
Synergy Scorecard: One Year Post Announcement Synergy Targeted Savings Presented August 2018 Execution as of August 2019 223 / ft. in D&C well cost savings by 2020 255 / ft. in D&C well cost savings in 2019 150 - 220MM in annual…
Synergy Update: D,C&E Well Costs Acquisition underwritten on achieving capital cost Consolidated D,C&E Savings in 2019 savings by early 2020: Midland Basin: 220 / ft. by early 2020; 70% of total primary EGN: 40% of 2019 wells…
Consistent Capital Discipline and Growth Within Cash Flow FANG has a track record of achieving robust production growth while spending within cash flow, with a willingness and demonstrated ability to adjust activity levels quickly to…
Balanced, Capital Efficient Development Gross Completed Lateral Footage by Quarter Delaware Basin Lateral Footage Midland Basin Lateral Footage Average Completed Lateral Length 789,634' Gross Lateral Footage Average Lateral…
2019 CAPEX to Cash Flow Statement Reconciliation Diamondback is focused on bridging well cost guidance to total D,C&E capital guidance, which translates directly to the cash flow statement The Company has completed an estimated 1.32MM…
Cost Control Directly Facilitates Greater Returns Cost control is driven by primary objective: lowest cost operator in a commodity-based manufacturing business wins FANG has continued to grow bottom line per share metrics in spite of…
Oil Pricing and Takeaway Solutions 2019 Realizations: In Basin Oil Takeaway and API Gravity Firm transportation agreements and basis hedges cover 50% of 2019E production Oil realizations expected to continue to improve in 2H Gatherer:…
Inventory Depth Provides Years of Premium Productivity Inventory significantly weighted to Tier 1 acreage: Diamondback Energy Premium Resource Life(2) 95% of total undeveloped net lateral footage Premium resource life comprised of…
Capital Structure and Liquidity Net debt to Q2 2019 annualized adjusted EBITDA of FANGs Liquidity and Capitalization (MM) 1.3x; continue to maintain leverage below 2.0x FANG's Consolidated Capitalization 6/30/2019 Total consolidated…
2019 Guidance Diamondback Viper Energy Targeting 26% annual production growth from Updated August 2019 Energy, Inc. Partners LP combined FY 2018 volumes with free cash flow in Net Production Mboe/d 277.0 284.0 21.5 22.0 2019; 28%+…
Differential Per Share Growth and Cost Structure Return On and Return Of Capital Significant Resource Potential Conservative Financial Management Strategic Acquisitions and Execution Efficient Conversion of Resource to…
APPENDIX 22
Build-out of Midstream Assets Through Rattler Midstream Rattler Midstream: Rattler Midstream Asset Map Publicly-traded midstream subsidiary (NASDAQ: RTLR) created by Diamondback Spanish Trail North: Howard County: Interests fully…
Viper Update Q2 2019 cash distribution of 0.47 per unit; LTM cumulative distributions of 1.94 per unit Organic growth on legacy assets provide consistent volume and distribution growth Focused on mineral acquisitions in oil-weighted…
High Growth, Oil Weighted Reserves YE18 total proved reserves increased 196% y/y Total Reserves Growth (MMboe) (1) to 992.0 MMboe FANG Standalone VNOM 992 63 FANG standalone reserves increased 213% y/y to 928.9 MMboe 65% proved…
Limelight Prospect Emerging Mississippian Oil Potential Diamondback Limelight Acreage Map Limelight Type Log Atoka-Bend Early geologic Springer assessments indicate Limelight Seal the target to be a significant oil source…
Diamondback Energy Corporate Headquarters Adam Lawlis, Vice President, Investor Relations 500 West Texas Ave., Suite 1200 (432) 221-7400 Midland, TX 79701 irdiamondbackenergy.com www.diamondbackenergy.com 29
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