Diamondback Energy Announces Executive Leadership Appointments and Promotions

Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced a series of leadership appointments and promotions, effective immediately.

Al Barkmann, currently Senior Vice President of Reservoir Engineering, has been promoted to Executive Vice President and Chief Engineer. Mr. Barkmann’s additional responsibilities will be to oversee all of the technical aspects of the business, including reservoir engineering, geology, and corporate planning.

Jere Thompson, currently Senior Vice President of Strategy and Corporate Development, has been promoted to Executive Vice President of Strategy and Corporate Development. Mr. Thompson’s additional reporting responsibilities will include the investor relations and finance groups, along with continued business and corporate development responsibilities.

Hunter Landers, currently Vice President of Completions, has been promoted to Senior Vice President of Completions.

Greg Dolezal, currently Vice President of Information Technology, has been promoted to Vice President and Chief Information Officer.

Diamondback today also announced the addition of two Vice Presidents to the executive team.

New Vice Presidents:

• Neil Wiese has been promoted to Vice President of Finance
• Austen Gilfillian has been promoted to Vice President of Viper Energy, Inc.

“The promotions and additions to Diamondback’s management team announced today highlights the depth and strength of our team. I, along with Diamondback’s Board of Directors, spend a significant amount of time on succession planning and talent development. The rapid rise of the individuals listed above is a testament to their talent and contribution to the continued success of Diamondback Energy,” stated Travis Stice, Chief Executive Officer and Chairman of Diamondback.

About Diamondback Energy, Inc.

Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. All statements, other than historical facts, that address activities that Diamondback assumes, plans, expects, believes, intends or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. The forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. These forward-looking statements involve certain risks and uncertainties that could cause the results to differ materially from those expected by the management of Diamondback. Information concerning these risks and other factors can be found in Diamondback’s filings with the Securities and Exchange Commission, including its Forms 10-K, 10-Q and 8-K and any amendments thereto, which can be obtained free of charge on the Securities and Exchange Commission’s web site at http://www.sec.gov. Diamondback undertakes no obligation to update or revise any forward-looking statement.

Investor Contact:Adam Lawlis+1 [e-mail]