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mportantly, the activity required to fund this growth is self-funded at a $40 WTI price or approximately half of where we are today and is delivering returns on capital employed greater than 20% at today’s commodity prices.
While once again, it is too early to provide firm guidance for next year. The trajectory of our business sets us up for a strong outlook in 2024 as well.
self funded at $40 wti
Transcript
2023 Q2
5 Sep 23
We also anticipate price movement with pressure pumping, which is our largest cost category in a very near future.
While it’s still somewhat premature to say what and set what our firm outlook for 2024 is, our expectations for deflationary trends should continue.
We have the potential for meaningful savings from peak well costs as pricing improvements gradually flow through our cost structure over the next year or so. With a free cash flow model that our business generated, we had another great quarter of cash returns. We returned $462 million to shareholders through our fixed plus variable dividend which we have paid out now for 12 consecutive quarters.
deflationary trencds in costs
Transcript
2023 Q2
5 Sep 23
As I touched on earlier, the capital spending to drive this growth trajectory was a touch ahead of expectations due to very strong execution from our drilling and completion teams that brought forward activity into the quarter.
capex ahead of plans
Transcript
2023 Q2
5 Sep 23
with oil volumes expected to grow to a range of 322,000 to 330,000 barrels per day in the upcoming quarter.
oil volumes
Transcript
2023 Q2
5 Sep 23
As we head into 2023, we expect to be active buyers of our stock, especially if we see trading weakness relative to our peers.
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Transcript
2022 Q4
24 Feb 23
we upsized this buyback authorization twice during the year and we bought back $1.3 billion of stock at prices well below the current market level
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Transcript
2022 Q4
24 Feb 23
In June, we announced the bolt-on acquisition of RimRock's assets in Dunn County at a highly accretive valuation of around 2x cash flow. This acquisition adds contiguous position of 38,000 net acres
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Transcript
2022 Q2
1 Feb 23
With the share repurchase program, we are on track to retire up to 6% of our outstanding shares
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Transcript
2022 Q2
13 Nov 22
we are on track to pay out around $5 per share this year, which is at a yield of more than 8%
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Transcript
2022 Q2
13 Nov 22
We are also adjusting our upstream capital to a range of $2.2 billion to $2.4 billion versus our prior guidance of approximately $2.1 billion. This updated guidance incorporates $100 million of incremental capital from the Williston acquisition and includes additional inflationary cost pressures associated with this higher commodity price environment.
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Transcript
2022 Q2
13 Nov 22
As you can see on the top left, a key contributor to this improved outlook is our 2022 production targets increased by 3% to a range of 600,000 to 610,000 BOE per day.
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Transcript
2022 Q2
13 Nov 22
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