15 annotations
So probably 15% year-over-year well cost increases
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2022 Q2
14 Nov 22
we took up CapEx on the low end and took up our average well cost estimate for the year. I would say probably today, we're probably up 15% today from the beginning of the year
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2022 Q2
14 Nov 22
This takes into account the roughly 10% cost increase we expect on the frac side, which is made up of increases in the cost of horsepower, wireline services and fuel.
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2022 Q2
14 Nov 22
we still haven't been able to offset all of the fixed pricing increases we've seen, which is why we've moved up our third quarter capital range to $470 million to $510 million, up from our capital spend of $468 million this quarter
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2022 Q2
14 Nov 22
These efforts have allowed us to keep the high end of our capital guidance range flat at $1.9 billion.
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2022 Q2
14 Nov 22
we continue to focus on how we can mitigate the inflationary pressures we're seeing across nearly all facets of the business by lowering the variable pieces of our cost structure
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2022 Q2
14 Nov 22
trying to spend around $1.50 to $2 a barrel to buy those puts, and we want to be about 60% hedged going into a particular quarter.
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2022 Q2
3 Aug 22
if we do go below $55 Brent, we're probably making capital decisions to slow down, but the balance sheet doesn't blow out. We can still pay our dividend and still generate free cash in that situation.
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2022 Q2
3 Aug 22
begin returning at least 75% of our free cash flow to our shareholders this quarter.
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2022 Q2
3 Aug 22
The second quarter was a record quarter for the company. We delivered on our production guidance, kept costs in line and distributed over 63% of our free cash flow to our shareholders.
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2022 Q2
3 Aug 22
the Board elected to keep our total dividend per share flat quarter-over-quarter at $3.05, which is comprised of the 75% base dividend and a $2.30 variable dividend. This puts our total annualized 2Q dividend yield of nearly 10%.
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2022 Q2
3 Aug 22
Our free cash flow for the quarter was $1.3 billion, up 35% quarter-over-quarter.
We will return 63% of this free cash flow to our shareholders, well in excess of our commitment to return at least 50% of free cash flow.
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2022 Q2
3 Aug 22
At 75%, that's over $1.8 billion return to shareholders or well north of $10 per share in just 2 quarters, for a total annualized return yield of approximately 17%.
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2022 Q2
3 Aug 22
around $2.5 billion of current strip pricing.
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2022 Q2
3 Aug 22
In June, we announced an increase in our capital returns commitment target, moving it up from 50% to at least 75% of free cash flow beginning in the third quarter.
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2022 Q2
3 Aug 22
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