High Growth, U.S. Minerals Yield Vehicle Minerals yield vehicle with high, multi-year, growth potential; currently yielding 5%1 Significant Organic Growth Viper is the largest U.S. publicly traded vehicle actively focused on third…
Viper Overview Viper Overview Net Gross Viper Energy Partners LP (Viper or VNOM) was formed by Royalty Acres Diamondback, which now owns 88% Acres Currently yielding 5%1 (000)s Cash distribution of 0.25 per unit declared for the…
Vipers Top-Tier Organic Growth Profile Inclining organic and visible production profile Growth driven by significant operator development on existing acreage Core focus area for both FANG and RSPP Viper does not incur capex for…
Viper Expected to Realize Higher Operating Margin Given the same revenue per BOE, a mineral barrel realizes a significantly higher operating margin No direct operating or capital expenses Less volatility due to changes in commodity…
2015 Guidance Viper Energy Partners LP Net Production Mboe/d 4.2 4.5 Unit Costs (/boe) DD&A 20.00 - 22.00 LOE 0.00 Cash G&A 1.00 - 2.00 Non-Cash Unit-Based Compensation 2.00 - 3.00 Production and Ad Valorem Taxes (% of…
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 Diamondback now operating…
Management Team with Proven Expertise Proven expertise in identifying and closing on accretive acquisitions Management team has a demonstrated track record in generating superior returns at FANG FANGs stock appreciation supported by…
FANGs Track Record Supports Growth Story FANG Average Daily Net Production(1) FANG Total Reserves Growth(1) 30 120 112.8 IPO 25.7 IPO 8.4 25 100 10.2 20.6 20 17.8 80 63.6 38.0 MMBoe MBoepd 15 13.6 60 4.9 5.3 10.4 40.2…
Cash Flow Generation is a Key Differentiator from Other E&P Yield Vehicles Distributable Cash Flow as a % of Revenue(1) Percent of Revenue Represents Mineral interests initially 100% Production 10% comprised 100% of Vipers and…
Vipers Mineral/Royalties Acquisition Focus Vipers Mineral/Royalty Interest Acquisition Potential Total U.S. Mineral/Royalty Interest Production Today(2) Viper is well-positioned to execute on additional accretive mineral/royalty…
Development of 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 FANG and RSPP currently have 3 horizontal rigs in…
Investment Highlights Significant Organic Growth and Acquisition Potential Minerals yield vehicle with high, multi-year, growth potential, and largest U.S. publicly traded vehicle actively focused on mineral interests/royalties…
Appendix
Industry Unlocking Multiple Horizontal Target Zones Representative Diamondback-Operated Section in Spanish Trail Mineral interest creates perpetual exposure to hydrocarbons across all current and future payzones Vipers operators…
FANGs Midland County Lower Spraberry Type Curve & Economics at 50 Oil 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%…
FANGs 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%…
Viper Financial Overview Financial Strategy Cash Available for Distribution (In thousands, except per unit amounts) Period From October 1, 2014 Maintain Financial Flexibility through No debt or interest expense at IPO December 31,…
EBITDA Reconciliation Historical EBITDA Reconciliation (In thousands, except per unit amounts) Period From Inception (September 18, 2013) Period From June 23, 2014 Period From October 1, 2014 through through through 31-Dec-13…
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