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1Q22 Earnings Presentation – Rattler Midstream LP

Rattler Midstream LP · May 31, 2022 · 18 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. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 1
    INVESTOR PRESENTATION MAY 2022
  2. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 2
    FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which involve risks,…
  3. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 3
    RATTLER MIDSTREAM: INVESTMENT HIGHLIGHTS Consolidated Net Income of 37.1 million Consolidated Adjusted EBITDA(1) of 87.0 million Operated capex of 17.9 million and equity method investment contributions of 4.9 million (2) Consolidated…
  4. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 4
    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 midstream company integral to…
  5. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 5
    RATTLERS OPERATED GATHERING ASSET OVERVIEW Martin / Howard County Produced Water Sourced Water N. Delaware Spanish Trail Produced Water Produced Water Sourced Water Sourced Water Oil Gathering Glasscock County(1)…
  6. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 6
    OVERVIEW OF EQUITY METHOD INVESTMENTS / JOINT VENTURES RATTLERS JOINT VENTURES ARE ALL IN FULL SERVICE WITH CASH RETURNS SET TO GROW FOR YEARS TO COME EPIC Crude Gray Oak Wink to Webster OMOG WTG BANGL Long-Haul Crude Long-Haul Crude…
  7. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 7
    WTG JOINT VENTURE OVERVIEW WTG Midstream System Overview WTG Midstream System Map In October 2021, Rattler purchased a 25% equity stake in the WTG joint venture, which owns a majority interest in WTG Midstream, for 107 million,…
  8. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 8
    ORYX MIDLAND OIL GATHERING (OMOG) OVERVIEW OMOG System Overview OMOG System Highlights Dedicated FANG Acreage Rattler owns 60% of crude oil gathering system in Midland Basin Non-Dedicated FANG Acreage operated by Plains All American…
  9. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 9
    STRATEGIC JOINT VENTURES WITH LONG-HAUL CRUDE OIL PIPELINES RATTLER PARTICIPATES IN LONG-HAUL TRANSPORTATION OF SUBSTANTIALLY ALL DIAMONDBACK OIL VOLUMES Wellhead to water solution - In-field oil gathering and equity method investments…
  10. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 10
    BANGL JOINT VENTURE OVERVIEW BANGL is a long-haul Y-Grade NGL pipeline project that transports natural gas liquids (NGL) barrels from gas processing plants in the Permian Basin to the Sweeny NGL fractionation hub on the Gulf Coast…
  11. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 11
    OPERATED BUSINESS IS A 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…
  12. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 12
    DIAMONDBACKS CONSOLIDATION OFFERS RATTLER OPPORTUNITIES Diamondback Overview Diamondback Completion Activity Over Time(1) Diamondbacks execution track record and scale support Rattlers (Gross Operated Horizontal Wells) business 317…
  13. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 13
    DIAMONDBACKS DEVELOPMENT PLAN SENSITIVITY Diamondbacks 2022 maintenance plan protected to below 35 WTI price Diamondbacks hedging and capital allocation framework sets floor for 2022 Rattler volumes Growing its common dividend and…
  14. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 14
    RATTLER VOLUMES & PER UNIT EXECUTION STABLE RATTLER VOLUMES TRANSLATE INTO GROWING ADJUSTED EBITDA AND CASH FLOW PER UNIT Operational execution delivers strong financial results supportive of our increased 1.20 per common unit…
  15. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 15
    RATTLER FINANCIAL OVERVIEW FINANCIAL STRATEGY RATTLER DEBT MATURITY PROFILE ( millions) Self-Funding Business Model Revolving Credit Facility 500 Focus on maximizing stakeholder returns 5.625% Senior Notes Strong free…
  16. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 16
    RATTLER 2022 GUIDANCE OVERVIEW FY 2019 FY 2020 FY 2021 Q1 2022 FY 2022 Actuals Actuals Actuals Actuals Guidance Operated Midstream Volumes(1) Produced Water Gathering (MBbl/d) 806 822 783 846 800 900 Sourced Water Gathering…
  17. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 17
    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…
  18. 1Q22 Earnings Presentation – Rattler Midstream LP – slide 18
    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 Jared Carameros (432) 247-6213…

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