RATTLER MIDSTREAM: INVESTMENT HIGHLIGHTS Q2 2020 Net Income of 12.5 million; Q2 2020 Adjusted Net Income of 27.9 million Q2 2020 Adjusted EBITDA of 53.9 million Operated midstream volumes troughed in Q2 2020 in response to low…
RATTLER: A DIFFERENTIATED MIDSTREAM COMPANY STABLE, HIGH MARGIN MIDSTREAM COMPANY WITH LEADING E&P SPONSOR Key Takeaways Areas Of Operation In-basin midstream solutions for Diamondback Energy Scalable, purpose-built Permian midstream…
RATTLERS ASSETS FOCUSED ON DIAMONDBACKS SEVEN CORE AREAS Spanish Trail North Produced Water Sourced Water Howard County Produced Water Sourced Water N. Delaware Produced Water Spanish Trail Glasscock County(1) Produced Water…
OVERVIEW OF EQUITY METHOD INVESTMENTS / JOINT VENTURES RATTLERS JOINT VENTURE CONTRIBUTIONS LARGELY COMPLETE WITH 3 OF 5 PROJECTS IN FULL SERVICE AND GENERATING CASH FLOW EPIC Crude Gray Oak Wink to Webster OMOG JV Amarillo…
RATTLER HISTORICAL VOLUMES & PER UNIT EXECUTION RATTLER VOLUMES TRANSLATE DIRECTLY INTO PER UNIT GROWTH, WITH A HIGH ROACE Operational execution delivers strong financial results supportive of current 1.16 per common unit annualized…
DIAMONDBACK IS WELL POSITIONED TO SUPPORT RATTLER THROUGHPUT Diamondback Overview Diamondbacks Gross Potential Operated Horizontal Drilling Locations (1) Diamondbacks execution track record and Tier 1 inventory depth 11,000 support…
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 fixed-fee contracts turn…
RATTLER PRESENTS IMMINENT FREE CASH FLOW INFLECTION Core operated business free cash flow positive in 2019 and growing in 2020 Free cash flow maintained in revised guidance as lower volumes offset by reduced operated capex Moderation…
DEFENSIVE BUSINESS MODEL PRESERVES OPERATED FREE CASH FLOW(1) REDUCTION IN OPERATED VOLUMES AND EBITDA COMPENSATED BY DECLINE OF OPERATED CAPEX(1) ( Millions) 350 300 277 260 213 220 92 197 186 138 138 123 106 88 83…
HIGHLY EFFICIENT JUST IN TIME CAPITAL PROGRAM RATTLER CUT 2020 OPERATED MIDSTREAM CAPITAL BY OVER 35% FROM ORIGINAL 2020 CAPEX PLAN UPON REDUCTION IN ACTIVITY(1) - Generic Third-Party Midstream Company 1 Company fully-formed,…
STAKEHOLDER ALIGNMENT: MIDSTREAM 2.0 MIDSTREAM 2.0 THEMES VALIDATED BY CURRENT ENERGY MARKET CONDITIONS Corporate Structure: Economic and governance alignment between stakeholders and sponsor (similar to Midstream 2.0 Viper…
ORYX MIDLAND OIL GATHERING (OMOG) OVERVIEW OMOG System Overview OMOG System Highlights Rattler and Oryx Midstream jointly acquired Reliance Gathering system in Midland Basin in November 2019 for 356 million Rattler owns 60% of Midland…
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 method investments in…
RATTLER FINANCIAL OVERVIEW FINANCIAL STRATEGY RATTLER CAPITALIZATION & CREDIT STATISTICS(1) ( millions) 6/30/2020 Self-Funding Business Model (2) Market Capitalization 1,238 Focus on maximizing stakeholder returns and growing…
High margin, free cash flow generating business underpinned by long-term contracts Strategic relationship with Diamondback allows for visibility and stability 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 17
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