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…
Disciplined Capital Allocator with Differentiated Returns Continued Free Cash Flow Generation: FANG Return of Capital Framework Generated 646 million of Free Cash Flow (FCF) in Q1 2023 (3.55 / share)(1) Q1 2023 Return of Capital: 485…
First Quarter Highlights Investment Framework and Q1 2023 Results Q1 2023 Execution Maintain Oil Volumes Oil production of 251.4 Mbo/d (425.0 Mboe/d) Oil Production 251.4 252 Oil production per million shares of 1,381 Bo/d, up 11%…
Overview of 2023 Guidance 2023 Activity and Guidance Midpoints vs 2022 2023 Production and Activity Outlook 2023 2022A Q1 2023A Guidance Oil Production 256 - 262 FY 2023 Activity Net Mbo/d 251 259 Mbo/d 224 19.0 16.5 325 -…
Return of Capital History and Highlights Declared Base Dividends Since 2018 ( / Share) 4.0 Billion Authorized Stock Repurchase Program(1) +5.4x Base Dividend Growth Stock Repurchases (MM) Cumulative Shares Repurchased (MM) 9.7%…
2023 Free Cash Flow Sensitivity Illustrative 2023E Consolidated Free Cash Flow at Various WTI Oil Prices (MM)(1) FY 2023 Assumptions 256 - 262 Mbo/d Oil Production 2.5 - 2.7 billion Cash CAPEX(2) 95% % of WTI Realized…
Investment Grade Balance Sheet Recent Highlights and Balance Sheet Summary: FANGs Liquidity and Capitalization (MM) Standalone liquidity of 1.5 billion(1) FANG's Consolidated Capitalization 3/31/2023 PF 4/28/2023 Consolidated net debt…
Peer Leading ESG Profile Diamondback is committed to successful execution on its environmental strategy and targets discussed in the 2022 Corporate Responsibility Report and highlighted below As part of this commitment, in March 2023,…
2023 Guidance Detail Full year 2023 guidance remains unchanged Diamondback Viper Full year 2023 oil production guidance of 256 262 Net Production Mboe/d 430 440 35.25 38.75 Mbo/d Oil Production Mbo/d 256 262 20.50 22.50 Full year…
APPENDIX 12
Longstanding Track Record of Capital Efficiency and Growing Per Share Metrics Diamondback Cash Flow / Free Cash Flow Since IPO ( / Share)(1) CFPS FCFPS +26.7x Cash Flow / Share growth since 2012 36.96 22.02 14.86 17.74 25.98…
Development Strategy and Performance Update Development Strategy Update: Midland Basin Well Productivity by Year Diamondback saw improving well productivity in 2022, with normalized oil production per well near 2019 levels…
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 / JM 63 (28) 265 (205) 668 (568) 996 (801) 9,700' LS 105 (52) 219…
Year-end Reserves Summary YE22 proved reserves increased 14% y/y to 2,033 Total Proved Reserve Growth (MMBoe) MMBoe (1,070 MMBo, 69% PDP) FANG Standalone VNOM 1P BOE / Share PDP reserves of 1,404 MMBoe; PDP oil reserves of 700 MMBo…
Environmental Performance Scorecard Flaring (% of Gross Gas Production)(1) GHG Intensity (mt / mboe Produced)(1) Methane Intensity (mt / mboe Produced)(1) FANG Operated Goal: Reduce 2019 intensity by 50% by 2024 Goal: Reduce 2019…
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%…
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…
Governance Summary Board Independence & Diversity: Board Independence and Diversity 8 of 9, or 89%, of our director nominees are independent 100% of Committee Members are independent 5 of 9, or 56%, of our director nominees are…
Current Hedge Summary: Natural Gas Consolidated Natural Gas Hedges (Mmbtu/day, /Mmbtu) Natural Gas Hedges Q2 2023 Q3 2023 Q4 2023 1H 2024 2H 2024 Costless Collars - Henry Hub 330,000 310,000 310,000 200,000 200,000 Floor / Ceiling…
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…
Overview of Equity Method Joint Ventures Gray Oak EPIC Crude Wink to Webster OMOG WTG BANGL Long-Haul Crude Oil Long-Haul Crude Oil Long-Haul Crude Oil In-Basin Crude Oil Gas Gathering and Long-Haul Y Grade Project Type Pipeline…
Non-GAAP Definitions and Reconciliations Adjusted EBITDA: Adjusted EBITDA is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors,…
Non-GAAP Definitions and Reconciliations Operating Cash Flow before Working Capital Changes, Free Cash Flow and Adjusted Free Cash Flow: Operating cash flow before working capital changes, which is a non-GAAP financial measure…
Non-GAAP Definitions and Reconciliations Net Debt: The Company defines the non-GAAP measure of net debt as total debt less cash and cash equivalents. Net debt should not be considered an alternative to, or more meaningful than, total…
Diamondback Energy Corporate Headquarters Adam Lawlis, Vice President, Investor Relations 500 West Texas Ave., Suite 100 (432) 221-7400 Midland, TX 79701 irdiamondbackenergy.com www.diamondbackenergy.com 28
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