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.As previously mentioned, we are increasing our original 2024 annual guidance due to the recently acquired or agreed to be acquired near-term development assets in North Dakota. These acquisitions are anticipated to result in over $40 million of incremental capital expenditures and are expected to provide material increases to production and cash flows, primarily late 2024 and end of 2025.Our expected production for 2024 now ranges from 13,000 to 14,000 BOE per day with a 67% to 71% oil cut, and we have increased our 2024 capital expenditures guidance range, which now stands at $130 million to $150 million. Please note that our oil and natural gas production as well as our CapEx varies from quarter-to-quarter based on new wells coming online and other operational matters that happen. Commensurate with this increased activity, the Board has approved an increase in our dividend to $0.525 per share, which demonstrates our confidence in accretive nature of these investments.With that, let me turn the call over to the operator for Q&A
develop,ent assets acquired -- adding to production in late 2024 and 2025, but capex fpr 2024 in creased
Transcript
2024 Q1
16 May 24
We have continued to add oil hedges during the year, and we now have swaps in place through the end of 2025. At the midpoint of our revised guidance for 2024, we have approximately 60% of our remaining oil production hedged at above $78 per barrel and a portion of our 2025 oil production hedged at above $74 a barrel.Thanks for your time.
adding to oil hedges, now 60% hedged ar aboce 78 a barrel
Transcript
2024 Q1
9 May 24
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