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EPIC Crude Oil Pipeline Announces Successful Completion of Its First Open Season Adding Diamondback Energy as a Strategic Partner and Signing New Primary Shippers

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Shippers Have Now Secured 425,000 Barrels per Day of Capacity on
the Permian Basin-to-Corpus Christi Crude Oil Pipeline

Commencing Second Open Season due to Substantial Commercial
Interest

EPIC Midstream Holdings, LP ("EPIC") announced today that the EPIC Crude
Oil Pipeline has successfully closed its first open season on July 26,
2018 and has executed definitive agreements to add Diamondback Energy
(NASDAQ:FANG) ("Diamondback") as a strategic partner and signed other
new primary shippers. Diamondback will have 50 thousand barrels of oil
per day (MBbl/d) of capacity on the EPIC Crude Oil Pipeline. As a
strategic partner, Diamondback, via its subsidiary Rattler Midstream
LLC, will also have an option to acquire up to 5% of the equity in the
EPIC Crude Oil Pipeline, with the option expiring in the first quarter
of 2019. Other newly signed primary shippers have secured 200 MBbl/d of
capacity, which include minimum volume commitments of 150 MBbl/d on the
EPIC Crude Oil Pipeline and will also be delivering Eagle Ford volumes
to the pipeline at EPIC's Gardendale, Texas terminal.

With these commitments, shippers have secured 425 MBbl/d of capacity
originating from the Permian Basin on the EPIC Crude Oil Pipeline, and
given strong commercial interest, EPIC is commencing its second open
season on August 1, 2018. Based upon the results of the second open
season, EPIC will consider upsizing from a 24-inch line to a 30-inch
line, expanding its Permian Basin capacity.

As previously announced, Apache Corporation ((NYSE, NASDAQ:APA) and
Noble Energy (NYSE:NBL) have committed to anchor the EPIC Crude Oil
Pipeline for 75 MBbl/d and 100 MBbl/d of capacity, respectively. At
least 10 percent of system capacity will be reserved for uncommitted
shippers.

"Diamondback's transportation on and equity option in the EPIC Crude Oil
Pipeline are important steps as we make progress on our broader
long-term takeaway strategy," stated Travis Stice, Chief Executive
Officer of Diamondback. "Our agreements secure a firm solution for a
majority of our Midland Basin barrels and we are excited to be aligned
with some of the Permian's largest producers on this project."

"EPIC continues to add value to our pipeline with the addition of
Diamondback as a strategic partner and our new primary shippers," said
Phillip Mezey, Chief Executive Officer of EPIC. "We are pleased to work
with our customers and producers to ensure takeaway capacity from both
the Permian Basin and Eagle Ford as volumes rapidly grow."

"We are excited to add new partners to the project," said Nate Walton,
Partner and Co-Head of North American Private Equity at Ares Management,
L.P. (NYSE:ARES). "The EPIC Crude Oil Pipeline is a demonstration of
the alignment of interests with our customers as we expect up to 50% of
the pipeline to be owned by our strategic partners, which are some of
the largest operators in the Permian Basin."

The EPIC Crude Oil Pipeline, which will run side-by-side with the EPIC
NGL Pipeline, will extend from Orla, Texas to the Port of Corpus
Christi, Texas and includes terminals in Orla, Pecos, Saragosa, Crane,
Wink, Midland, Helena and Gardendale, with Port of Corpus Christi
connectivity and export access. It will service the Delaware, Midland
and Eagle Ford Basins. The crude system is expected to be in service in
the fourth quarter of 2019. The EPIC Pipelines are backed by capital
commitments from funds managed by the Private Equity Group of Ares.

About EPIC Pipeline

EPIC was formed in 2017 to build, own, and operate midstream
infrastructure in both the Permian and Eagle Ford Basins. EPIC's first
two projects, the EPIC Crude Oil Pipeline and the EPIC NGL Pipeline,
will transport crude and NGL across Texas for delivery into the Corpus
Christi market. For more information, visit www.epicmid.com.

About Diamondback

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
in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

About Apache

Apache Corporation is an oil and gas exploration and production company
with operations in the United States, Egypt and the United Kingdom.
Apache posts announcements, operational updates, investor information
and copies of all press releases on its website, www.apachecorp.com,
and on its Media and Investor Center mobile application, which is
available for free download from the Apple App Store and the Google Play
store.

About Noble Energy

Noble Energy (NYSE:NBL) is an independent oil and natural gas
exploration and production company with a diversified high-quality
portfolio of both U.S. unconventional and global offshore conventional
assets. Founded more than 85 years ago, the Company is committed to
safely and responsibly delivering our purpose: Energizing the World,
Bettering People's Lives®. For more information, visit www.nblenergy.com.

About Ares Management

Ares Management, L.P. is a publicly traded, leading global alternative
asset manager with approximately $112.5 billion of assets under
management as of March 31, 2018 and 18 offices in the United States,
Europe, Asia and Australia. Since its inception in 1997, Ares has
adhered to a disciplined investment philosophy that focuses on
delivering strong risk-adjusted investment returns throughout market
cycles. Ares believes each of its three distinct but complementary
investment groups in Credit, Private Equity and Real Estate is a market
leader based on assets under management and investment performance. Ares
was built upon the fundamental principle that each group benefits from
being part of the greater whole. For more information, visit www.aresmgmt.com.

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