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 Full year 2020 oil production guidance of 205.0 - 215.0 Mbo/d; implies 10% - 15% growth from 2019 guidance at the midpoint Full year 2020 CAPEX guidance 2.8 - 3.0 billion, including D,C&E CAPEX of…
Overview of Preliminary 2020 Guidance and Capital Budget 2020 Guidance and Activity vs 2019 (Midpoint) 2019 Production and Activity Outlook 2020 FY 2019E FY 2020E Targeting 10% - 15% y/y oil growth with free cash flow(1) Oil…
2020 Activity Overview Diamondbacks future activity is focused on generating sustainable growth and increasing free cash flow 2020 plan focused on increased co-development between zones in both Midland and Delaware basins Expect to…
2020 Plan Focused on Significant Free Cash Flow Generation Diamondback believes its 2020 plan allows for differential oil production growth with robust free cash flow Using conservative assumptions, Diamondback expects to generate over…
Track Record of Per Share Growth and Execution Production Growth vs. Bottom Line Growth since 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 Cap Max…
Third Quarter Activity Detail After growing significantly during 1H 2019, Q3 2019 oil production declined due to the sale of our Central Basin Platform assets effective July 1, 2019; 5,800 bo/d of low margin oil production…
Case Study: Field Level Impact of Offset Completions on Oil Production Offset completions water out wells shut in due to operational Howard County Gross Oil Production protocol, which decreases field level production Oil Producing…
Substantial Economic Inventory with Conservative Spacing Assumptions Diamondback Spacing Philosophy: Midland and Delaware Premium Zone Spacing Assumptions Inventory spacing assumptions in both the Midland and Delaware basins are…
Midland Basin Productivity and Development Strategy Midland Basin Development Strategy: Midland Basin Development by Zone (% of Net Lateral Ft.) Development has moved to incorporate more economic zones completed simultaneously, or…
Midland Basin Productivity by Zone and Completion Vintage Middle Spraberry Productivity by Completion Vintage Lower Spraberry Productivity by Completion Vintage 25,000 30,000 Cumulative Bo/d per 1,000 Ft. Cumulative Bo/d per…
Delaware Basin Productivity and Development Strategy Delaware Basin Development Strategy: Delaware Basin Development by Zone (% of Net Lateral Ft.) Development focused on highest rate of return zone, the Wolfcamp A WCA WCB 2BS 3BS…
Synergy Scorecard: Q3 2019 Synergy Targeted Savings Presented August 2018 Execution as of November 2019 223 / ft. in D&C well cost savings by 2020 260 / ft. in D&C well cost savings in 2020(1) 150 - 220MM in annual savings 2020 D,C&E…
Balanced, Capital Efficient Development Gross Completed Lateral Footage by Quarter Delaware Basin Lateral Footage Midland Basin Lateral Footage Average Completed Lateral Length Gross Lateral Footage 840,339' Average Lateral…
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…
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 Completed an estimated 2.11MM net lateral…
Oil Pricing and Takeaway Solutions Q4 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 Q4…
Capital Structure and Liquidity Net debt to Q3 2019 annualized adjusted EBITDA of FANGs Liquidity and Capitalization (MM) 1.6x; continue to maintain leverage below 2.0x FANG's Consolidated Capitalization 9/30/2019 FANG standalone…
2019 Guidance Diamondback Viper Energy Targeting 27% annual production growth from Energy, Inc. Partners LP combined FY 2018 volumes with free cash flow in Net Production Mboe/d 281.0 282.0 21.0 21.5 2019; 26% oil growth inclusive…
Preliminary 2020 Guidance Targeting 10% - 15% year over year oil production Diamondback Preliminary 2020 Guidance growth with free cash flow in 2020(1) Net Production Mboe/d 310.0 325.0 D,C&E CAPEX budget of 2,450 2,600 million; Oil…
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 24
Environmental, Social and Governance Diamondback is deeply committed to the safe and responsible development of its resources As our organization has grown to be in a leadership position in the Permian Basin, we believe we have a…
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 Q3 2019 cash distribution of 0.46 per unit; LTM cumulative distributions of 1.82 per unit Organic growth on legacy assets to provide consistent volume and distribution growth Focused on mineral acquisitions in…
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…
Current Hedge Summary: Gas and Liquids (1) Natural Gas (Mmbtu/day, /Mmbtu)(1) Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2021 70,000 30,000 30,000 30,000 30,000 Swaps - Henry Hub 3.06 2.55 2.55 2.55 2.55 80,000 80,000…
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 32
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