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Diamondback Energy | Q3 2013 Earnings Presentation | Tracy Dick | Page 4 of 11 | November 23, 2024

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? Independent E&P focused on Permian Basin and headquartered in Midland, Texas ? Completed IPO on October 17, 2012 (share price increased ~204% since IPO) ? Drilled or participated in 34 horizontal wells, 26 of which are producing (24 Wolfcamp B, 1 Clearfork, 1 Middle Spraberry) ? Diamondback is the operator of 23 of the 26 producing wells ? Results to date have been at or above the type curves ? Acquired mineral interests under ~15,000 gross (~12,500 net) acres in Midland County in September 2013 for $440 MM ? Acquired ~11,150 net acres in Midland Basin in September 2013 for $165 MM Diamondback Overview Key Highlights ? Market capitalization of ~$2.5 BN (1) ? Over 66,000 net acres; ~99% operated ? Actively pursuing additional acreage in the basin ? Daily production of ~10,500 BOEPD (2) ? Proved reserves: 57.9 MMBOE (9/1/13) (3) ? 65% Oil, 20% NGL, 15% Gas ? 43.0% PDP ? Pre-tax PV-10: $952 MM (9/1/13) (4) Diamondback Energy Acreage Central Basin Platform Eastern Shelf Ozona Arch Midland Basin 3 Source: Bloomberg, Ryder Scott, Company Filings, Management Data and Estimates. Market data as of November 4, 2013. (1) Represents outstanding shares as of October 28, 2013. (2) Average daily production during the period October 1, 2013 – October 26, 2013. (3) Management internally prepared estimates as of 9/1/2013 pro forma for the acquisitions completed in September 2013; audited by Ryder Scott. (4) Management internally prepared estimates as of 9/1/2013 pro forma for the acquisitions completed in September 2013.