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March 2015 Investor Presentation – Diamondback Energy, Inc.

Diamondback Energy, Inc. · Mar 23, 2015 · 27 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. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 1
    Investor Presentation March 2015
  2. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 2
    Diamondback Energy Overview Track Record of Capital Discipline, Stockholder Returns and Maintaining a Strong Balance Sheet Diamondback Energy Acreage Peer-leading drill and complete times translate to lower well costs and higher…
  3. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 3
    Resilient Lower Spraberry Economics in Spanish Trail Spanish Trail Lower Spraberry Economics 280% 240% At 50 WTI, Generating 50-125% ROR 200% 160% 120% 80% 40% 0% 30/bbl 40/bbl 50/bbl 60/bbl 70/bbl (1) 6.0MM (excl.…
  4. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 4
    Lower Spraberry Performance Midland MIDLAND COUNTY LOWER SPRABERRY RESULTS - NORMALIZED TO 7500' LATERAL 180 ST 2501LS (Midland County) Curves represent only the oil KEMMER 4210H (Midland County) portion of the two stream 160…
  5. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 5
    Lower Spraberry Performance Martin and Andrews MARTIN / ANDREWS COUNTY LOWER SPRABERRY RESULTS - NORMALIZED TO 7500' LATERAL 180 UL Tawney 8-12 1LS (Andrews Cty) Curves represent only the oil M. Breedlove 2301LS (Martin County)…
  6. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 6
    Significance of the Lower Spraberry New development target in formation considered marginally Acreage Map Gaines Dawson economic for decades Positive tests across acreage base Martin 1 mmboe EUR in Midland County and 0.8 mmboe in…
  7. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 7
    A Growth Story Average Daily Net Production (Mboe/d)1 Revenue Growth1 ( in MMs) Oil Gas/NGLs 26-28 Mboe/d Guidance2 496 19.5 208 7.3 97 14.7 3.8 5.5 2.7 FY2012 FY2013 FY2014 FY2015E FY2012 FY2013 FY2014 Key…
  8. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 8
    Diamondback Energy Reserves Summary Total Reserves Growth1 (MMboe) Proved Reserves Represent Over a Decade Proved Developed Proved Undeveloped VNOM Proved Developed VNOM Proved Undeveloped 112.8 of Reserve Life2 8.4 2014 total…
  9. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 9
    Peer Leading Capital Efficiency, Conservative Leverage & Attractive Valuation FY2015E Recycle Ratio1 Key Highlights 145% Peer leading cash margins and F&D costs drive 131% differential recycle ratio 110% Peer Avg: 102% Recent equity…
  10. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 10
    Peer Leading Cash Margins Cash Margins Have Consistently Exceeded Peers1,2 FANG Operating Expenses Below Peers1 (/boe) LOE Prod. Taxes G&A 90.00 FANG Peer Average FANG Realized Price (/boe) 18.04 18.18 15% Lower /boe 16.88 80.00…
  11. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 11
    2015: Capital Discipline Remains Key Responding to Market Conditions with 2015 Production and Capex Guidance Permian Rig Count2 Aggressively pursuing incremental service cost concessions 500 Expects to reach positive cash flow in the…
  12. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 12
    Recalibration of Service Costs Monthly Permian Rig Count1 Cost Concessions are Responding to Lower Commodity Environment 500 Company is aggressively pursuing cost reductions 400 and anticipates an overall reduction of at least…
  13. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 13
    Horizontal Execution Peer Leading Performance Drives Lower Well Costs and Higher Returns Days vs Depth Hz1 Diamondback Peers Faster drilling times lead to lower well costs and higher 0 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33…
  14. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 14
    Downspacing and Stacked Pay Potential in Spanish Trail Upside Potential Increase from 6 to 8 per section Increase from 8 to 10 per section Increase from 4 to 8 per section Active Development Future Development…
  15. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 15
    Robust Multi-year Inventory Identified Net Potential Drilling Locations 996 3,390 673 1,584 73 64 Horizontal Additional 40-Acre Additional 20-Acre Total PUDs Horizontal PUDs 40-Acre Spacing Drilling Locations 4% of…
  16. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 16
    Financial Overview 16
  17. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 17
    Liquidity and Financial Profile FANGs Liquidity and Capitalization1 FANG's Pro Forma Capitalization as of 12/31/14 Net Debt to annualized 4Q14 EBITDA of 1.2x1 (MM) Cash and cash equivalents 30 Strong balance sheet with the ability to…
  18. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 18
    Diamondback Energy Hedging Hedging1 Oil Swaps 2015 Average Bbls Per Day Average Price Per Bbl Oil Swaps 2015 Average Bbls Per Day Average Price Per Bbl First Quarter 15 LLS 6,344 95.57 Third Quarter 15 LLS 3,000 90.99 First…
  19. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 19
    Diamondback Energy - 2015 Guidance1 Diamondback Capex Budget ( - million) Diamondback Viper Energy Horizontal Drilling and Completion 285 315 Energy Inc. Partners LP Net Production Mboe/d1 26.0 28.0 4.2 4.5 Infrastructure 20 30…
  20. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 20
    In Conclusion Diamondback Energy is a low-cost operator in one of the highest return basins. Complementary acreage additions Midland Basin focused Maintain operations excellence Efficient capital allocation Debt/EBITDA < 2X…
  21. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 21
    APPENDIX 21
  22. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 22
    Widespread Lower Spraberry Success Notable FANG Lower Spraberry Drilling Results Acreage Map Well(s) County Achievement IP30/1,000 Gaines Dawson Believed to be industrys first hz Lower Spraberry well in Upton 10 Neal F Unit 8 1…
  23. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 23
    Lower Spraberry Type Curve & Economics at 50 Oil Midland County Type Curve Economics ROR Sensitivity EUR, 2 Stream Mboe 990 EUR Mboe Well Cost MM Peak 30 day IP, boe/d 1,030 650 810 990 1,200 Oil %, 2 stream basis 79% 5.5…
  24. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 24
    Midland County Wolfcamp B Type Curve & Economics at 50 Oil Type Curve Economics ROR Sensitivity EUR, 2 Stream Mboe 638 EUR Mboe Well Cost MM Peak 30 day IP, boe/d 808 600 638 700 750 Oil %, 2 stream basis 76% 5.5 22% 25%…
  25. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 25
    Superior Geosteering & Hydraulic Fracturing Offset Well Control Wolfcamp B Seismic Surface Hz Target Window (30) Well Path Frac Gradient - Blue Breakdown Pressure - Red Prop Weight - Red Fluid Volume - Blue Total Gas…
  26. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 26
    Viper Energy Partners Landmark IPO of Mineral Interests September 2013 - acquired 14,804 gross acres of minerals in the core of the Northern Midland Basin Non-traditional investment for an E&P company, unique opportunity with…
  27. March 2015 Investor Presentation – Diamondback Energy, Inc. – slide 27
    Development of Viper Energys Spanish Trail is Well Underway Operators Incentivized to Drill Two Dedicated Hz Drillers Mineral interest in 15,444 gross acres in Midland County known as Spanish Trail Viper does not pay direct LOE or…

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