AcquisitionsThe market may not like the acquisitions of Grayson Mill, RimRock, or Validus, viewing them as expensive or causing an operational pause.
Operational AdjustmentsThe separation from BPX in the Eagle Ford will improve capital efficiency in their second highest capital-consuming region.
Strategic ChangesThe elimination of the variable dividend would allow the FCF to flow-through to shareholders more effectively via buybacks and base dividends.