RATTLER MIDSTREAM: INVESTMENT HIGHLIGHTS Q3 2019 Net Income of 48.1 million, up 3% over Q2 2019 and 170% over Q3 2018 Q3 2019 Adjusted EBITDA of 67.0 million, up 1% over Q2 2019 and 133% over Q3 2018 Robust average volume growth in…
RATTLER: A DIFFERENTIATED MIDSTREAM COMPANY FULLY-FUNDED COMPANY OPERATING ON AN ESTABLISHED ACREAGE POSITION Key Takeaways Areas Of Operation In-basin midstream solutions for Diamondback Energy Scalable, purpose-built Permian…
RATTLERS ASSETS FOCUSED IN DIAMONDBACKS SEVEN CORE AREAS Rattler and Diamondback Asset Map Spanish Trail North: Howard County SWD SWD Fresh Water Fresh Water N. Delaware SWD Spanish Trail Glasscock County(1) SWD SWD Fresh…
DIAMONDBACK IS WELL POSITIONED TO DRIVE RATTLER GROWTH Diamondback Overview Diamondback Net Production Growth Over Time(3) Diamondbacks strong growth profile, execution track record and Tier 1 (Boe/d) 317,500 inventory depth support…
RATTLER BENEFITS FROM DIAMONDBACK PRODUCTION GROWTH ACROSS BOTH BASINS Diamondbacks 2020 Guidance Implications for Rattler Diamondback 2019E vs. 2020E Gross Completions Rattlers asset footprint translates into capturing Diamondback…
RATTLER HISTORICAL VOLUMES & PER UNIT EXECUTION GROWING RATTLER VOLUMES TRANSLATES DIRECTLY INTO NET INCOME AND EBITDA GROWTH, WITH A HIGH ROACE Operational execution delivers strong financial results supportive of initial 1.00 per…
HIGH MARGIN, RETURNS-FOCUSED MODEL WITH 15-YEAR CONTRACTS Diamondback has set Rattler up for free cash flow generation Strong Gross Margins across All Midstream Segments High gross margins and long-term contracts turn Diamondback…
RATTLER PRESENTS IMMINENT FREE CASH FLOW INFLECTION Core operated business expected to be free cash flow positive in 2019 and growing in 2020 Core business EBITDA increases with organic volume growth while capex declines as systems are…
HIGHLY EFFICIENT JUST IN TIME CAPITAL PROGRAM CAPEX TIMING COORDINATION WITH DIAMONDBACK MAXIMIZES CAPITAL EFFICIENCY AND UTILIZATION - Generic Third-Party Midstream Company 1 Company fully-formed, operations established 1…
RATTLER IS KEY TO DIAMONDBACKS LOW-COST OPERATIONS Rattler Lowers Diamondbacks Effective LOE by Reducing SWD Costs Rattler Helps Maximize Diamondbacks Oil Realizations (/Bbl water) (/Bbl oil) Diamondbacks Diamondbacks ownership…
SWD ECONOMICS SUPERIOR TO THAT OF PERMIAN BASIN OIL WELLS HIGH SWD UTILIZATION PROVIDES HIGH RETURN ON CAPITAL EMPLOYED AT RATTLER Delaware (Horizontal Well) Metric Midland (Horizontal Well) Metric Lateral Length 10,000 Ft. Lateral…
STAKEHOLDER ALIGNMENT: MIDSTREAM 2.0 Corporate Structure: Economic and governance alignment between stakeholders and sponsor (similar to Midstream 2.0 Viper Energy Partners (NASDAQ: VNOM)) Themes Growth Expectations:…
RELIANCE GATHERING OVERVIEW Reliance System Overview Acquisition Rationale Line of Sight to Significant Oil Volume and Revenue Growth Diamondback and 2 other large public Permian producers have contributed greater than 85% of system…
STRATEGIC JOINT VENTURES WITH LONG-HAUL PIPELINES RATTLER WILL PARTICIPATE IN LONG-HAUL TRANSPORTATION OF SUBSTANTIALLY ALL DIAMONDBACK OIL VOLUMES Wellhead to water solution - In-field oil gathering and equity investments in Gray Oak,…
RATTLER FINANCIAL OVERVIEW FINANCIAL STRATEGY RATTLER CAPITALIZATION & CREDIT STATISTICS ( millions) 9/30/2019 Self-Funding Business Model Market Capitalization(1) 2,346 Focus on maximizing stakeholder returns and growing…
High margin, free cash flow generating business underpinned by long-term contracts Strategic relationship with Diamondback drives Rattlers high growth profile Assets in the core of Permian in both Delaware and Midland…
Rattler Midstream LP Corporate Headquarters Adam Lawlis, Vice President, Investor Relations 500 West Texas Ave., Suite 1200 (432) 221-7400 Midland, TX 79701 irrattlermidstream.com www.rattlermidstream.com 18
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