Disciplined Capital Allocator with Differentiated Returns Durable Cash Flow Creation through the Cycle Best-In-Class Execution 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 820 million of Free Cash Flow (FCF) in Q3 2023 (4.58 / share); 884 million of Adjusted FCF (4.94 /…
Third Quarter Highlights Investment Framework and Q3 2023 Results Q3 2023 Execution Q2 2023 Q3 2023 Maintain Oil Volumes Oil Production per Oil production of 266.1 Mbo/d (452.8 Mboe/d) Oil production per million shares of 1,488…
Overview of 2023 Guidance 2023 Activity and Guidance Midpoints vs 2022 2023 Production and Activity Outlook 2023 2022A 2023 YTD Guidance 263 Mbo/d FY 2023 Activity 16.5 Oil Production 220 19.0 Lario Outperformance / 340 335 -…
Return of Capital Framework Diamondbacks return of capital strategy is underpinned by a sustainable and growing base dividend, as well as additional return of capital from a combination of share repurchases and/or variable dividends…
Return of Capital History and Highlights Declared Base Dividends Since 2018 ( / Share) 4.0 Billion Authorized Stock Repurchase Program(1) +5.7x Base Dividend Growth Stock Repurchases (MM) Cumulative Shares Repurchased (MM) 9% average…
Durable Cash Flow Creation through the Cycle Illustrative 2023E Consolidated Free Cash Flow at Various WTI Oil Prices (MM)(1) YTD FCF Base Dividend Additional ROC Remaining FCF FCF Yield (EV) FCF Yield (Market Cap) FY 2023…
Track Record of Cost Control and Consistent Execution Midland Basin Avg. Drilling Days to Total Depth by Year Midland Basin SimulFRAC Completion Efficiency 2019 2020 2021 2022 2023 24 Avg. Ft. / Day Avg. Proppant / Day (1,000's) 20…
Differentiated Large-Scale, Multi-Zone Development Strategy Development Strategy Summary: Midland Basin Well Productivity by Year Midland Basin average per well productivity (normalized for 200 2019 2020 2021 2022 2023 lateral length)…
Investment Grade Balance Sheet Recent Highlights and Balance Sheet Summary: FANGs Liquidity and Capitalization (MM) Standalone liquidity of 2.3 billion(1) FANG's Consolidated Capitalization 9/30/2023 Consolidated net debt of 5.5…
Peer Leading ESG Profile Diamondback is committed to successful execution on its environmental strategy and targets discussed in the 2023 Corporate Responsibility Report and highlighted below As part of this commitment, in March 2023,…
2023 Guidance Detail Full year 2023 oil production guidance of 263 Mbo/d, Updated FY 2023 Guidance Diamondback Viper up from 260 262 Mbo/d previously Net production Mboe/d 447 (from 435 445) 39.25 Full year 2023 CAPEX budget of…
APPENDIX 15
Longstanding Track Record of Capital Efficiency and Growing Per Share Metrics Diamondback Cash Flow / Free Cash Flow Since IPO ( / Share)(1) FCFPS +26.7x Cash Flow / Share growth since 2012 CFPS 36.96 22.02 14.86 17.74 25.98…
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) GHG Intensity (mt / mboe Produced) Methane Intensity (mt / mboe Produced) FANG Operated Goal: Reduce 2019 intensity by 50% by 2024 Goal: Reduce 2019 intensity by…
Scope 1 Emissions Breakdown and Strategic Reduction Initiatives Diamondback 2022 Scope 1 Emissions Detail and Current Strategic Initiatives: Atmospheric Storage Atmospheric Storage Tanks / Other: 11K mt, or 1% of 2022 CO2e emissions…
Methane Emissions and Strategic Reduction Initiatives Diamondback 2022 Methane Emissions Detail and Current Strategic Initiatives: Gas Pneumatic Devices: Flare Stacks: 3.8K mt, or 56% of 2022 CH4 emissions 2.1K mt, or 31% of 2022…
Governance Summary Board Independence & Diversity: Board Independence and Diversity 8 of 9, or 89%, of Board are independent 100% of Committee Members are independent 5 of 9, or 56%, of Board are diverse (gender or ethnic minority)…
Current Hedge Summary: Natural Gas Consolidated Natural Gas Hedges (Mmbtu/day, /Mmbtu) Natural Gas Hedges Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2025 Costless Collars - Henry Hub 310,000 290,000 290,000 290,000 290,000 Floor…
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 30
Loading...
