Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Reports Third Quarter 2014 Production

Viper Energy Partners LP

("Viper"), a subsidiary of Diamondback Energy, Inc.

("Diamondback"), announced today third quarter 2014 production. PRODUCTION UPDATE Production attributable to Viper's mineral interests was 309.7 MBOE, or 3,366 BOE/d, for the third quarter of 2014, as compared to 221.0 MBOE, or 2,428 BOE/d, for the second quarter of 2014. The production mix was comprised of 75% oil, 14% natural gas liquids and 11% natural gas in the third quarter of 2014. "I am pleased to report 3Q 2014 production attributable to Viper's mineral interests of 3,366 BOE/d, which represents a 39% increase over 2Q 2014 volumes. This meaningful increase in production indicates the development strategy of multi zone horizontal drilling is being successfully executed by the primary operators, Diamondback Energy and RSP Permian," stated Travis Stice, Chief Executive Officer of Viper. Mr. Stice continued, "Viper has no debt and an undrawn revolver of $110 million following the September 2014 offering." DISTRIBUTION UPDATE Viper expects the record date for its third quarter 2014 distribution to be November 21, 2014 with a payment date of November 28, 2014. Viper also expects to announce the amount of the distribution in its third quarter 2014 conference call. Three Months Ended Three Months Ended September 30, June 30, 2014 2014 Production Data: Oil (Bbls) 233,971 164,957 Natural gas (Mcf) 199,877 134,301 Natural gas liquids (Bbls) 42,410 33,632 Combined volumes (BOE) 309,694 220,973 Daily combined volumes (BOE/d) 3,366 2,428 % Oil 75% 75%