Improved Capital Efficiency
Achieved a reduction in free cash flow breakeven from $76 to $67 per barrel, indicating improved capital efficiency and successful integration of the Endeavor deal.
Increased Well Completion Efficiency
Drilling and completion efficiencies have led to increased productivity, with frack fleets moving from 80 to potentially over 100 wells per fleet per year.
Strategic M&A and Inventory Expansion
Consolidated quality positions in the Permian Basin post-Double Eagle acquisition, enhancing the company's inventory and long-term strategic position.
Strong Shareholder Returns
The company remains committed to at least a 50% return of capital to shareholders and sees potential for increasing share repurchases given the current valuation levels.
Monetization of Non-Core Assets
Plans to monetize $1.5 billion in non-core assets without selling operated acreage, primarily through equity method investments and midstream assets.