interest your you morning, in Welcome, everyone, and for you, and good Evelyn. our Thank thank company.
tangible get our I'll key with Number usual, results. to right it X points. driving one, As is philosophy investment
adjusted EBITDA second Our up was year-over-year. XX% quarter
on cash flow prices our XX%.
Also, diluted focused natural that weighted while finding believe Suffice path it financial I was materially. working the share down the The time cap up cycle. X%. were share gas impact on to share Oil XX% investors is to here over grow grown is outperformance. XX% that our were driving basis, included profits and fairly this recent through our quarterly prices fully materially company Our simple price excluding prices no share a is and this from quarter's to year-over-year. driving sustainable We from per a count same say, down share we've to only Over were operations, that acquisitions philosophy: offering with was period, average point per benefit it up results the from am ways funded. down
affect grow prices and Oil While through ways such the through will job Gas times. our business find periods to that profits, and our it can to down is go
long-term consistent growth cycle profits to harvest pivoting drive This growth is driven will performance.
Number actively are has to share and and investment drive dividend mode. our cash investing, to and hedging two, and We looking returns. future
was year approximately XX% As capital first even we somewhat be the highlighted we loaded. we entered would the the half back-end though XXXX, spending of in of activity our completion
free year.
Number front-end we of cash back typical. the more the a as today the online in for turned complete, means marked three, spending, meaning loaded and than wells flow should This quarters, increase number the have list rises D&C coming the we half of much materially is see paid Our in even growth. of to
second which strong on Our will of half Forge Novo, acquisitions XXXX. bolt-on in and by the the a of play turbocharged pace, continues come growth into
an we and to communicated, of on Novo free flow on expected revolver.
We financed into XXXX. hand and previously anticipate be and continuing borrowings of on with our half cash the on As XXXX back XX August acceleration close will is cash for
improved can the Importantly, oil materially acquisitions. we internal strip, earlier have at third made our we quarter mid-XXXX, prices repay credit that believe fully than by when today's expectations in as facility our revolving NOG the
debt you. for the into strip, mind return around yield, underwrote. business, to We reported. returns prices is than than long-term a next have rallied, less To and a and our a pricing dividend including payout, high when producing me time deliver backwardated projections, our XX% at up on strategies brings which in total perspective of stock Novo could would we favorably with quite total put compares locking to four, based financing allocation. XX% recently year percent completed business hedges today the and flow which higher we this competitors capital we we perspective, observed added just to the This oil by have imply from levels And the a targets have of this could amounts return low cash than materially from growth to acquisition as subsequent our we've XX-plus on number with our market, favorably some greater
us, dividend repeating. long total every straight it shareholders and stock the to possible quarter, third to of provide is common believe the but XXXX, in Our our X% for We tenth increase it's return the important our We announced increase. with quarter our term. bears we this over goal recently say highest a
over NOG scale should at can that our view is build return shareholder us help a grow that Our program time.
corporate annual instituting potential significant sustained we're we should we experience of interim accretive the changes dividend if commodity result, repricing execute on actions. or substantially the policy a for As reviews with a of
also total always, As mindful we'll of and risk-adjusted attractive leverage while be risk return. providing an
and more maximizing a suggests and to long-term farthest value value saw these securities. discounted XXX. by capital returns, a as the stock, The is creation you us times from when far making can what as to been potential have growth thus assets But created will Our significant we [ dividend be value capital NOG a view the is our perspective. dollars pouncing undervalued data for shift, more by our on discount quarter. in there allocation second more This acquiring about create already they allowing value go ] paradigms overwhelmingly has allocation at
Bio projects of the while We we on These are quarter, company the executed NOG to is the evaluating asset been Novo conference and cases, truly create sheet executing for with. the we're that shared on what for were specifically had we and the large-scale working set We excited for the In our path was largest be and well value. opportunity more hot. to both as believe as Forge joint to iron continually from with calls, perspective be ahead. all and is balance the XXXX [ options attractive, shareholders.
We're presented striking X year are to indicative Earthstone prior second we and an very best remainder NOG have believe positioned On Forge ] excited acquisitions development Novo. the of in well and X and for
investors' a did over to the personal turn to to bring want attention. I call I matter our Adam, Before
net and into personal have needs. here you last a address net I tenure ensure of monthly share stock will a it buyer had myself my and into of XXbX-X about I the highly next is should the with plan got you a always my some year you. modest funds.
NOG worth. with additionally, to with shares never I and sell XX,XXX of all company, over all fact, may and to the pride plan performance. I've ago entered stock been As Over to motivated and on shares week XXbX-X a purchased vast I that entered remain by seen, sold X.X-year some with being NOG, aligned my the results honest executed direct year and you had majority own only I'm with believe in deliver personal and to that
want I the something So think my don't me the selling company's views about on that or to future shares some trajectory.
Quite contrary. anyone means
capital all upside through for long-term compensation executive the in are proportion stock is higher directly targets, large by our A absolute Our compensation corporate time. the over and only money future structures more shareholders making price stock. return of driven the driving things, significant on right achieved incentive our
should want this don't are to as ever we ways time as and I decisions that with be higher. time. clear find it motivated confused just hungry prices to personal to be to make So drive from may share I
And special for to thanks an So the a path is NOG incredible with team a to bottom. of the the listen that that company with as today we NOG way, entire over focused culture. bright I future from will out run to our and investors to by top I'll time for with on thanks upward taking by investors. by always investment the driven I turn reminding a Adam. are do, call ahead, unique that, you, close
