Investor Presentaiton
Avg. Days
Expected to Deliver Best in Class Execution
World Class Resource
Low Cost Operations
Permian Leader
The Must-Own
Permian Pure Play
Financial Strength
Midland Basin Avg. Drilling Days to Total Depth by Year
2019
◆ 2020 ◆ 2021
◆ 2022
◆ 2023
24
~40%
Reduction
2262% 4
20
16
12
0
0 2
4
20
60
6
8
10
12 14
Depth (1,000's of Ft.)
16
18
20
22
24
24
26
from
2019-2023
Organizational culture focused on operational efficiency continues to
deliver consistent, and meaningful, cycle time reductions year over year
Realized reductions in drilling cycle time of over 40% since 2019
Intense focus on the details, contributing to incremental improvement
on a large scale basis
Scalable, proven operating model poised to deliver best in class results
over larger Midland asset footprint
Midland Basin SimulFRAC Completion Efficiency
■Avg. Ft. / Day
Avg. Proppant / Day (1,000's)
~3,000'
~2,700'
~2,500'
~1,500'
~5,700
~2,800
~5,200
~4,700
2023
2022
SimulFRAC used on ~90% of wells
Zipper Frac
2021
2019-2021 Avg.
Implementation of SimulFRAC completions has been a step change in
completion cycle time, and will provide upside to current Endeavor D&C
SimulFRAC, along with Diamondback's cultural focus on operational
efficiency, has led to a doubling of completion lateral feet per day per
crew since 2019
Diamondback's commitment to operational excellence, and proven
ability to integrate and execute, will provide investors with unparalleled
opportunity in the Midland Basin
Diamondback has built a scalable, low cost operating model ready to deliver on the pro forma
Source: Company data and estimates as of 11/3/2023.
9
asset
DIAMONDBACK
ENERGYView entire presentation