PR 2nd Qtr
Posted: Wed Aug 02, 2023 4:09 pm
EPS: 0.21 vs. Estimated $0.36: Surprise of -42%
Revenue of $623,398 vs. Estimated $649.01: Surprise of -4%
Second Quarter Financial and Operational Highlights
Increased both crude oil and total average production by 8% quarter-over-quarter to 84.4 MBbls/d and 165.9 MBoe/d, respectively
Announced cash capital expenditures of $371 million and accrued capital expenditures of $386 million
Reported net cash provided by operating activities of $448 million and adjusted free cash flow1 of $80 million (cash capital expenditures)
Continued to realize significant operational efficiency gains, driving meaningful improvements in drilling and completion cycle times
Increased average completed and drilled feet per day by 31% and 13%, respectively, compared to third quarter 2022
Delivered total return of capital of $57 million, or $0.10 per share:
Quarterly base dividend of $0.05 per share
Variable dividend of $0.05 per share
Revenue of $623,398 vs. Estimated $649.01: Surprise of -4%
Second Quarter Financial and Operational Highlights
Increased both crude oil and total average production by 8% quarter-over-quarter to 84.4 MBbls/d and 165.9 MBoe/d, respectively
Announced cash capital expenditures of $371 million and accrued capital expenditures of $386 million
Reported net cash provided by operating activities of $448 million and adjusted free cash flow1 of $80 million (cash capital expenditures)
Continued to realize significant operational efficiency gains, driving meaningful improvements in drilling and completion cycle times
Increased average completed and drilled feet per day by 31% and 13%, respectively, compared to third quarter 2022
Delivered total return of capital of $57 million, or $0.10 per share:
Quarterly base dividend of $0.05 per share
Variable dividend of $0.05 per share