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2Q 2022 Earnings Presentation – Diamondback Energy, Inc.

Diamondback Energy, Inc. · Aug 4, 2022 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 1
    Investor Presentation August 2022 1
  2. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 2
    Disciplined Capital Allocator with Differentiated Returns Best-In-Class Execution Durable Cash Flow Creation through the Cycle Long Life, Pure Play Permian Basin Inventory Base Investment Grade Balance Sheet Peer Leading…
  3. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 3
    Disciplined Capital Allocator with Differentiated Returns Free Cash Flow increased by 35% Quarter over Quarter: FANG Return of Capital Framework Generated over 1.3 billion of Free Cash Flow (FCF) in Q2 2022 (7.46 / share)(1), up 35%…
  4. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 4
    Investment Highlights and Second Quarter Execution Investment Framework Q2 2022 Execution Q1 2022 Q2 2022 Maintain Oil Volumes Oil production of 221.1 Mbo/d (380.5 Mboe/d) Oil Production Flat Net Mbo/d 223 221 Oil production per…
  5. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 5
    Significant Free Cash Flow Returned to Stockholders Illustrative 2022E Consolidated Free Cash Flow at Various WTI Oil Prices (MM)(1)(2) Base Dividend Additional FCF Returned Remaining FCF FCF Yield (EV) FCF Yield (Market Cap) 4,900+…
  6. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 6
    Overview of Q3 and 2022 Guidance 2022 Activity and Guidance Midpoints vs 2021 Q3 and 2022 Production and Activity Outlook 2022 2021A Guidance 2022 plan focused on maintaining flat Q4 2021 Permian oil production Oil Production Flat…
  7. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 7
    Investment Grade Balance Sheet with Significant Liquidity Balance Sheet Highlights as 6/30/22: FANGs Liquidity and Capitalization (MM) Consolidated total liquidity of 2.2 billion FANG's Consolidated Capitalization 6/30/2022 Standalone…
  8. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 8
    Peer Leading ESG Profile Diamondback is committed to successful execution on its environmental strategy and targets discussed in 2021 Corporate Responsibility Report and highlighted below Our 2021 Corporate Responsibility Report is…
  9. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 9
    2022 Guidance Detail Full year 2022 oil production guidance of 220 222 Diamondback Viper Mbo/d Net Production Mboe/d 374 380 32.50 33.75 Full year 2022 CAPEX budget of 1.82 - 1.90 billion Oil Production Mbo/d 220 222 19.00 19.75…
  10. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 10
    Inventory and Asset Overview Midland Basin Gross (Net) Locations Economic at 50 / Bbl(1) Diamondback Acreage Map(3) 5,000'+ 7,500'+ 10,000'+ Total Avg. Lateral MS 130 (51) 250 (185) 543 (440) 923 (676) 9,000' LS 189 (104) 247…
  11. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 11
    Reserves Summary YE21 proved reserves increased 36% y/y to 1,789 Total Reserve Growth (MMBoe) MMBoe (928 MMBo, 67% PDP) FANG Standalone VNOM MMBoe/Share 1,789 PDP reserves of 1,201 MMBoe; PDP oil reserves of 620 MMBo 1,316 10.08…
  12. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 12
    Current Hedge Summary: Oil Consolidated Crude Oil Hedges (Bbl/day, /Bbl) Crude Oil Hedges Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Costless Collars - WTI(1) 4,000 Floor / Ceiling 50.00 / 128.01 Costless Collars - MEH…
  13. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 13
    Current Hedge Summary: Natural Gas Consolidated Natural Gas Hedges (Mmbtu/day, /Mmbtu) Natural Gas Hedges Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Costless Collars - Henry Hub 380,000 380,000 350,000 310,000 290,000 290,000…
  14. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 14
    APPENDIX 15
  15. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 15
    Environmental Performance Scorecard Flaring (% of Gross Gas Production) (1) GHG Intensity (mt / mboe Produced) (1) Methane Intensity (mt / mboe Produced)(1) 2022 Goal:…
  16. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 16
    Scope 1 Emissions Breakdown and Strategic Reduction Initiatives Diamondback 2021 Scope 1 Emissions Detail and Current Strategic Initiatives: Atmospheric Storage Tanks: 55K mt, or 4% of 2021 CO2e emissions Atmospheric (43K mt, or 4%…
  17. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 17
    Methane Emissions and Strategic Reduction Initiatives Diamondback 2021 Methane Emissions Detail and Current Strategic Initiatives: Gas Pneumatic Devices: 2.8K mt, or 59% of 2021 CH4 emissions Flare Stacks: (2.9K mt, or 57% of 2020…
  18. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 18
    Social Commitments and Summary Awards and Financial Commitments: Committed 10 million to support various non-profit entities to meet the humanitarian needs of the people of Ukraine displaced by the Russian invasion Recipient of the…
  19. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 19
    Governance Summary Board Independence & Diversity: Board Independence and Diversity 9 of 10, or 90%, of Board are independent 100% of Committee Members are independent 5 of 10, or 50%, of Board are diverse (gender or ethnic minority)…
  20. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 20
    Rattler Midstream Summary Rattler Midstream: Rattler Midstream Asset Map Publicly-traded midstream subsidiary (NASDAQ: RTLR) created by Diamondback Martin / Howard: Sourced Water Interests fully aligned with upstream operations:…
  21. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 21
    Viper Summary Viper Energy Partners: Viper Mineral and Royalty Assets Publicly-traded mineral and royalty subsidiary (NASDAQ: VNOM) created by Diamondback Focused on owning and acquiring minerals and royalty interests in the Permian…
  22. 2Q 2022 Earnings Presentation – Diamondback Energy, Inc. – slide 22
    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 23

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