Capital Return StrategyThe company lowered its capital return target to $9 billion, with a higher emphasis on buybacks, reducing total cash returns by approximately 18%.
Earnings RevisionLowered Q1'24 EPS estimate to $2.03, reflecting modest revisions to production, operational expenses, and affiliate income.
Production ConcernsConcerns about lower productivity in the Midland and Eagle Ford regions are affecting type curve assumptions and potentially impacting future production and earnings.