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Acquisition of Endeavor Energy – Diamondback Energy, Inc.

Diamondback Energy, Inc. · Feb 12, 2024 · 19 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. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 1
    Creating the Must-Own Permian Pure Play February 12, 2024 1
  2. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 2
    Non-GAAP Financial Measures Non-GAAP Financial Measures This presentation includes financial information not prepared in conformity with generally accepted accounting principles (GAAP), including EBIDTA, free cash flow and PV-10. The…
  3. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 3
    Creating the Must-Own Permian Pure Play Driving Results World Class Assets Through in a World Class Lowest Cost Basin Operations Leading Financial Permian Strength Position 4
  4. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 4
    The Must-Own Transaction Overview Permian Pure Play Transaction Details Diamondback Pro Forma Acreage Purchase Price of 26bn 8 billion cash (subject to adjustment) and 117.3 million of Diamondback shares to be issued to Endeavor…
  5. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 5
    The Must-Own About Endeavor: A Leader in the Midland Basin Permian Pure Play Who We Are Asset Profile Where We Operate 2024 Guidance Established in 1979 344,000 net acres in the Midland Basin Core 6 Expected 2024 oil core…
  6. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 6
    The Must-Own Premier Permian Acreage Footprint Permian Pure Play World Class Resource Low Cost Operations Permian Leader Financial Strength Best in Class Core Inventory Quality and Depth World Class Assets in a World Class Basin…
  7. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 7
    The Must-Own Combination of Premier Assets and Operations Permian Pure Play World Class Resource Low Cost Operations Permian Leader Financial Strength Midland Basin Avg. 12 Month Cum. Oil Production (MBO/Well)(1) Multi-Zone…
  8. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 8
    The Must-Own Expected to Deliver Best in Class Execution Permian Pure Play World Class Resource Low Cost Operations Permian Leader Financial Strength Midland Basin Avg. Drilling Days to Total Depth by Year 2019 2020 2021 2022…
  9. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 9
    The Must-Own Leading Cost Structure Creates Meaningful Synergies Permian Pure Play World Class Resource Low Cost Operations Permian Leader Financial Strength Midland Basin DC&E Costs 2024 Guidance 2025 Pro Forma 775 625…
  10. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 10
    The Must-Own Industry Leading Cash Margins Enhance Cash Flow Permian Pure Play World Class Resource Low Cost Operations Permian Leader Financial Strength Quarterly Realized Cash Margins Incl. Interest (% of Realized Price / BOE)…
  11. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 11
    The Must-Own Industrial Logic Drives Significant, Tangible Synergies Permian Pure Play World Class Resource Low Cost Operations Permian Leader Financial Strength Operational synergies resulting from Diamondbacks Capital and…
  12. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 12
    The Must-Own Emergence of a World Class Independent Permian Pure Play World Class Resource Low Cost Operations Permian Leader Financial Strength Current Permian Net Production (MBOE/d) Permian Pure Play 1300 867 816 751 722…
  13. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 13
    The Must-Own Consistent, Long Term Value Creation Permian Pure Play World Class Resource Low Cost Operations Permian Leader Financial Strength Relative Trading Performance 1,400% Trading Performance(1) Since FANG IPO L5Y L3Y…
  14. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 14
    The Must-Own Return of Capital Framework Permian Pure Play World Class Resource Low Cost Operations Permian Leader Financial Strength Commitment to return 50% of free cash flow to stockholders allows for flexibility to reduce debt…
  15. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 15
    The Must-Own Transformational Value Proposition Permian Pure Play World Class Resource Low Cost Operations Permian Leader Financial Strength 2024E EBITDA Multiple 6.1x 5.7x 5.6x 5.0x 4.9x 4.4x (2) PXD (1) COP FANG OXY…
  16. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 16
    The Must-Own Minerals Portfolio Offers Significant Value Upside Potential Permian Pure Play Key Highlights Pro Forma Asset Minerals Locator Map Portfolio High royalty interest enhances further upside value creation Minerals…
  17. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 17
    The Must-Own Leading ESG Profile Permian Pure Play Diamondback is committed to successful execution on its environmental strategy and the targets discussed in its 2023 Corporate Responsibility Report As part of this commitment, in…
  18. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 18
    The Must-Own Key Governance Elements of the Combined Company Permian Pure Play Travis Stice will continue as Chief Executive Officer and Chairman of the Board Leadership Diamondback will remain headquartered in Midland, TX…
  19. Acquisition of Endeavor Energy – Diamondback Energy, Inc. – slide 19
    Creating the Must-Own Permian Pure Play Midland Basin Driving Results PF Acreage World Class Assets Midland Acres: 694k Through Permian Acres: 838k in a World Class Lowest Cost Basin Operations Delaware Basin Leading…

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