Aug. 5 at 8:13 PM
$PR
Recent Financial and Operational Highlights
Reported total average production of 376.4 MBoe/d, including 198.1 MBbls/d of oil, 86.2 MBbls/d of NGLs and 552.9 MMcf/d of natural gas
Announced cash capital expenditures of
$521 million, cash provided by operating activities of
$1,506 million and adjusted free cash flow1 of
$751 million
Acquired ~54,000 net acres and ~20,000 NRAs in the core of the Delaware Basin through ~190 transactions for
$1.05 billion, demonstrating continued bolt-on and ground game success
Attractive valuation at ~
$13,000 per net acre, ~
$8,000 per NRA and ~
$2.5 million per net 10,000' location
Acquisitions increase anticipated full year 2026 working interest to >80%
Raised mid-point of full year guidance for oil production to 199.0 MBbls/d and updated mid-point of capital expenditures guidance to
$1.95 billion
Declared quarterly base dividend of
$0.16 per share
Improved the Company's already strong balance sheet with reduction in leverage1 to ~0.5x
