Table of Contents Table of Contents 2 List of Tables 5 List of Figures 6 Company Snapshot 8 Key Information 8 Company Overview 8 Diamondback Energy, Inc., Valuation and Financial Data 9 Diamondback Energy, Inc., Share Price Performance 9 Share Price Performance, Q4, 2014-Q4, 2015 9 Diamondback Energy, Inc., Key Valuation Metrics 10 Key Valuation Metrics, Q4, 2014-Q4, 2015 10 Diamondback Energy, Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 11 Results of Oil & Gas Operations Per boe Produced, Q4, 2014-Q4, 2015 11 Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2014-Q4, 2015 12 Diamondback Energy, Inc., Quarterly E&P Costs Trends 13 Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13 Diamondback Energy, Inc., Quarterly Production Trends 14 Diamondback Energy, Inc., Total Oil and Gas Production 14 Total Crude Oil and Natural Gas Production Trend, Q4, 2014-Q4, 2015 14 Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 15 Diamondback Energy, Inc., Crude Oil Production 16 Total Crude Oil Production Trend, Q4, 2014-Q4, 2015 16 Crude Oil Production, By Country/Region, Q4, 2014-Q4, 2015 17 Diamondback Energy, Inc., Natural Gas Production 18 Total Natural Gas Production Trend, Q4, 2014-Q4, 2015 18 Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 19 Diamondback Energy, Inc., Valuation and Financial Data, 2011-2015 20 Diamondback Energy, Inc., Share Price Performance, 2011-2015 20 Share Price Performance, 2011-2015 20 Key Valuation Metrics, 2011-2015 21 Diamondback Energy, Inc., Production and Reserves Trends 22 Total Oil and Gas, Reserves and Production 22 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 22 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 24 Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 26 Crude Oil/Liquids Production and Reserve 27 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 27 Crude Oil Production and Reserves By Country/Region, 2011-2015 28 Crude Oil/Liquids Reserve Changes, 2011-2015 30 Natural Gas Production and Reserve 31 Natural Gas Production and Reserve Trend, 2011-2015 31 Natural Gas Production and Reserves, By Country/Region, 2011-2015 32 Natural Gas Reserve Changes, 2011-2015 34 Total Crude Oil and Natural Gas Reserves Life Index 35 Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 35 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 36 Diamondback Energy, Inc., E&P Costs Trends 38 Allocation of the Upstream Capital Expenditure 38 Upstream Capital Expenditure, 2011-2015 38 Acquisition Costs By Country/Region, 2011-2015 39 Exploration and Development Costs, By Country/Region, 2011-2015 41 Oil and Gas Cost Per boe, US$/boe 43 Oil and Gas Cost Per boe, US$/boe, 2011-2015 43 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 44 Diamondback Energy, Inc., Reserve Replacement Ratio 46 Oil and Gas Production Replacement Ratio 46 Oil and Gas Production Replacement Ratio, 2011-2015 46 Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 48 Diamondback Energy, Inc., Results of Oil & Gas Operations Trend 52 Oil and Gas Revenue and Expenses 52 Oil and Gas Revenue and Expenses, 2011-2015 52 Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 53 Oil and Gas Revenue and Expenses, Per boe 58 Oil and Gas Revenue and Expenses, By boe, 2011-2015 58 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 59 Oil and Gas Performance Metrics 63 Diamondback Energy, Inc., Land Holdings and Well Data 64 Developed and Undeveloped Acreage 64 Gross and Net Developed and Undeveloped Acreage, 2011-2015 64 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 65 Well Statistics 68 Producible Oil and Gas Well, 2011-2015 68 Producible Oil and Gas Well, By Country/Region, 2011-2015 69 Exploration and Development Wells Drilled, 2011-2015 71 Exploration and Development Wells Drilled, By Country/Region, 2011-2015 72 Recent Developments 73 Diamondback Energy, Inc. - Recent Developments 73 Feb 16, 2016: Diamondback Energy Announces Fourth Quarter 2015 Financial And Operating Results And Updated Guidance For 2016 73 Nov 03, 2015: Viper Energy Partners A Subsidiary Of Diamondback Energy Reports Third Quarter 2015 Cash Distributions And Financial And Operating Results And Provides Updated 2015 Guidance 75 Nov 03, 2015: Diamondback Energy Announces Third Quarter 2015 Financial And Operating Results And Updated Guidance For 2015 76 Oct 07, 2015: Big Star Oil & Gas Continues To Discover Success In Horizontal Drilling 78 Aug 05, 2015: Diamondback Energy Announces Second Quarter 2015 Financial And Operating Results And Updated Guidance for 2015 79 Aug 05, 2015: Viper Energy Partners A Subsidiary Of Diamondback Energy Reports Second Quarter 2015 Cash Distributions And Financial And Operating Results And Provides Updated 2015 Guidance 81 May 06, 2015: Viper Energy Partners A Subsidiary Of Diamondback Energy Reports First Quarter 2015 Cash Distributions And Financial And Operating Results 82 May 06, 2015: Diamondback Energy Announces First Quarter 2015 Financial And Operating Results And Accretive Acquisitions 83 Feb 17, 2015: Diamondback Energy Announces Fourth Quarter 2014 Financial And Operating Results 86 Feb 09, 2015: Viper Energy Partners, a Subsidiary of Diamondback Energy, Announces Its Fourth Quarter Cash Distribution 88 Appendix 89 Methodology 89 Coverage 89 Secondary Research 89 Primary Research 89 Data Information Sources 90 Company Source 90 SEC/Other Regulatory Filings 90 Other Sources 90 Expert Panel Validation 90 Data Definition 90 Oil and Gas Reserves 90 Units of Measure 91 About GlobalData 91 Disclosure 91 Disclaimer 91

List of Tables Table 1: Diamondback Energy, Inc., Key Facts 8 Table 2: Diamondback Energy, Inc., Share Price Performance, Q4, 2014-Q4, 2015 9 Table 3: Diamondback Energy, Inc., Key Valuation Metrics, Q4, 2014-Q4, 2015 10 Table 4: Diamondback Energy, Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11 Table 5: Diamondback Energy, Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2014-Q4, 2015 12 Table 6: Diamondback Energy, Inc., Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13 Table 7: Diamondback Energy, Inc., Total Crude Oil and Natural Gas, Production, Q4, 2014-Q4, 2015 14 Table 8: Diamondback Energy, Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15 Table 9: Diamondback Energy, Inc., Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16 Table 10: Diamondback Energy, Inc., Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17 Table 11: Diamondback Energy, Inc., Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18 Table 12: Diamondback Energy, Inc., Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19 Table 13: Diamondback Energy, Inc., Share Price Performance, 2011-2015 20 Table 14: Diamondback Energy, Inc., Key Valuation Metrics, 2011-2015 21 Table 15: Diamondback Energy, Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 23 Table 16: Diamondback Energy, Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 25 Table 17: Diamondback Energy, Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 26 Table 18: Diamondback Energy, Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27 Table 19: Diamondback Energy, Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 29 Table 20: Diamondback Energy, Inc., Crude Oil Reserve Changes, mmbbl, 2011-2015 30 Table 21: Diamondback Energy, Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31 Table 22: Diamondback Energy, Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 33 Table 23: Diamondback Energy, Inc., Natural Gas Reserve Changes, bcf, 2011-2015 34 Table 24: Diamondback Energy, Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 35 Table 25: Diamondback Energy, Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 37 Table 26: Diamondback Energy, Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 38 Table 27: Diamondback Energy, Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 40 Table 28: Diamondback Energy, Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 42 Table 29: Diamondback Energy, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43 Table 30: Diamondback Energy, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 45 Table 31: Diamondback Energy, Inc., Oil and Gas Production Replacement Ratio, %, 2011-2015 46 Table 32: Diamondback Energy, Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 51 Table 33: Diamondback Energy, Inc., Revenue and Expenses, US$ mil, 2011-2015 52 Table 34: Diamondback Energy, Inc., Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 57 Table 35: Diamondback Energy, Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 58 Table 36: Diamondback Energy, Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 62 Table 37: Diamondback Energy, Inc., Oil and Gas Performance Metrics, 2011-2015 63 Table 38: Diamondback Energy, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 64 Table 39: Diamondback Energy, Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 67 Table 40: Diamondback Energy, Inc., Producible Oil and Gas Wells, 2011-2015 68 Table 41: Diamondback Energy, Inc., Producible Oil and Gas Wells, By Country/Region, 2011-2015 70 Table 42: Diamondback Energy, Inc., Exploratory and Developed Wells, 2011-2015 71 Table 43: Diamondback Energy, Inc., Exploratory and Developed Wells, By Country/Region, 2011-2015 72 List of Figures Figure 1: Diamondback Energy, Inc., Share Price Performance, USD/Share, Q4, 2014-Q4, 2015 9 Figure 2: Diamondback Energy, Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2014-Q4, 2015 10 Figure 3: Diamondback Energy, Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11 Figure 4: Diamondback Energy, Inc., Upstream Capital Expenditure, US$ mil, Q4, 2014-Q4, 2015 13 Figure 5: Diamondback Energy, Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q4, 2014-Q4, 2015 14 Figure 6: Diamondback Energy, Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15 Figure 7: Diamondback Energy, Inc., Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16 Figure 8: Diamondback Energy, Inc., Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17 Figure 9: Diamondback Energy, Inc., Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18 Figure 10: Diamondback Energy, Inc., Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19 Figure 11: Diamondback Energy, Inc., Share Price Performance, USD/Share, 2011-2015 20 Figure 12: Diamondback Energy, Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 21 Figure 13: Diamondback Energy, Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22 Figure 14: Diamondback Energy, Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 24 Figure 15: Diamondback Energy, Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 24 Figure 16: Diamondback Energy, Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 26 Figure 17: Diamondback Energy, Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27 Figure 18: Diamondback Energy, Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 28 Figure 19: Diamondback Energy, Inc., Oil Production, By Country/Region, mmbbl, 2011-2015 28 Figure 20: Diamondback Energy, Inc., Crude Oil Reserve Changes, mmbbl, 2015 30 Figure 21: Diamondback Energy, Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31 Figure 22: Diamondback Energy, Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 32 Figure 23: Diamondback Energy, Inc., Gas Production, By Country/Region, bcf, 2011-2015 32 Figure 24: Diamondback Energy, Inc., Natural Gas Reserve Changes, bcf, 2015 34 Figure 25: Diamondback Energy, Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 35 Figure 26: Diamondback Energy, Inc., Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36 Figure 27: Diamondback Energy, Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36 Figure 28: Diamondback Energy, Inc., Oil Reserve Life Index, By Country/Region, Years, 2011-2015 37 Figure 29: Diamondback Energy, Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 38 Figure 30: Diamondback Energy, Inc., Proved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39 Figure 31: Diamondback Energy, Inc., Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39 Figure 32: Diamondback Energy, Inc., Development Costs, By Country/Region, US$ mil, 2011-2015 41 Figure 33: Diamondback Energy, Inc., Exploration Costs, By Country/Region, US$ mil, 2011-2015 41 Figure 34: Diamondback Energy, Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43 Figure 35: Diamondback Energy, Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 44 Figure 36: Diamondback Energy, Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 44 Figure 37: Diamondback Energy, Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 46 Figure 38: Diamondback Energy, Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 48 Figure 39: Diamondback Energy, Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 48 Figure 40: Diamondback Energy, Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 49 Figure 41: Diamondback Energy, Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 49 Figure 42: Diamondback Energy, Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 50 Figure 43: Diamondback Energy, Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 50 Figure 44: Diamondback Energy, Inc., Revenue and Expenses, US$ mil, 2011-2015 52 Figure 45: Diamondback Energy, Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 53 Figure 46: Diamondback Energy, Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 53 Figure 47: Diamondback Energy, Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 54 Figure 48: Diamondback Energy, Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 54 Figure 49: Diamondback Energy, Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55 Figure 50: Diamondback Energy, Inc., Production Costs, By Country/Region, US$ mil, 2011-2015 55 Figure 51: Diamondback Energy, Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 56 Figure 52: Diamondback Energy, Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 58 Figure 53: Diamondback Energy, Inc., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2011-2015 59 Figure 54: Diamondback Energy, Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 59 Figure 55: Diamondback Energy, Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 60 Figure 56: Diamondback Energy, Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 60 Figure 57: Diamondback Energy, Inc., Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 61 Figure 58: Diamondback Energy, Inc., Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 61 Figure 59: Diamondback Energy, Inc., Oil and Gas Performance Metrics, 2011-2015 63 Figure 60: Diamondback Energy, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 64 Figure 61: Diamondback Energy, Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 65 Figure 62: Diamondback Energy, Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 65 Figure 63: Diamondback Energy, Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 66 Figure 64: Diamondback Energy, Inc., Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 66 Figure 65: Diamondback Energy, Inc., Producible Oil and Gas Wells, 2011-2015 68 Figure 66: Diamondback Energy, Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 69 Figure 67: Diamondback Energy, Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 69 Figure 68: Diamondback Energy, Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 70 Figure 69: Diamondback Energy, Inc., Exploratory and Developed Wells, 2011-2015 71