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Diamondback Energy | August 2016 Investor Presentation | Travis Stice | Page 16 of 11 | November 23, 2024

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16 Best in Class Execution and Cost Control ? Overall drilling costs are down 46% from peak Q4 2014 levels ? Drilled two 10,000 ft lateral wells in Andrews and Glasscock counties in less than nine days from spud to total depth ? Drilled a 10,800 ft lateral well in Spanish Trail in less than 11 days from spud to total depth FANG Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 653 673 693 693 700 733 933 ? Leading edge well costs currently below $6.0 million for a 10,000 ft lateral well and below $5.0 million for a 7,500 ft lateral well ? Leading-edge drill, complete and equip costs are down ~35% from 2014 peak ? Roughly 30% to 40% of drilling cost decreases since Q4 2014 are associated with optimization FANG vs. Peer Estimated Well Costs ($/lateral ft) (2) Drilling Cost Reductions Since Q4 2014 (1) Source: Company and peer filings, management data and estimates and KeyBanc. (1) Assumes a standard Spanish Trail Lower Spraberry well with a 7,500’ lateral. (2) Analysis by KeyBanc dated May 26, 2016. KeyBanc estimated budgeted costs in 2016 per lateral foot for a 7,500’ lateral well. Peers include CPE, EGN, LPI, PE, PXD and RSPP. $3.2 $2.5 $2.1 $1.9 $1.8 $1.7 Q4 2014 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016