and like results and ultimately joining everyone, our prior our XXXX, thanks on for Good morning, an of quarter of our expectations to call. for this I'd start eventful reflecting about morning, to fourth XXXX. talking
create completed value as one corporate Energy, XXXX and in merger a opportunity Williston a scale was significant substantial through synergies. we equals an a with the transaction with extract and year organization our create to company for of operational to Chord transformational and Basin
framework. to announced to our transaction this return discipline strength, maintaining of and peer-leading we a also Importantly, capital as capital shareholders, we commitment balance our sheet compelling executed while and
new as leading how the focused the integration we would underway on delivering and identified. to for operate practices are fully the from balance the is process have we last and through In This the groundwork we of integration value and organization. and now the synergies laid establishing a of and merger up we began months year, best XXXX, process
this originally $XX process, the have annual at $XXX we that our announcement target we over the million synergies expectation to through Chord per previously reminder, targeted from increased million of a As announced year. our current
these expect XX% We XXXX remainder to in with numbers by second have these realize XXXX incorporated over half synergies of of the targeted our and guidance. into the
a practices thank and such through will believe of the dedication time us practice, Taking effort the best and of go footing. strong legacy we make are stronger the us what to I commitment for Chord company have on want placed organization, regardless their establish who to employees forward the
and remain a better created The supporting financial capable excited with integration of current we flow, prices is outlook, I going company future. about much at merger, sustainable a have lower the levels high market benchmarks. of Through well cash our than strong free
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core cycles. XXX% strong If base program low had is capital through return past see X.X% is of share a part annualized designed prices and yield strategy our per detail, the our a sustainable base resilient represents of and dividend A years. more you and of two you'll commodity examine be that $X a of increase to in dividend at Cumulative a over
merger On was on in strong our shareholder evident base billion very or we consideration the attractive our of XXXX. importantly, a and group peer our free returned versus dividends, believe market. cash adjusted dividend billion More Chord cash over $X.X broadly, XX% is pro flow both full and and broader repurchases. returns year, forma share And the focus approximately $X.X basis, through for generated approximately
and severe as volume to our protect, to elevated night announced we weather results, delivery financial downtime on Last company. and X, winter Slide impacted quarter. noted frac the and and for negatively in fourth related Turning operating the our the presentation release
than When impacts severe X,XXX also to share day us delayed million the flow originally of quarter. a this weather resulted in The per higher weather late some Correspondingly, fourth of delivering less the the barrels completions the winter of for less and of resulted combined, cash oil XXXX, these our delivery activity $XX lion than in planned. of the midpoint With in for into quarter in free capital shifted reduced investing guidance December. in than attributable anticipated resulted approximately quarter. the about investment capital
to continue we well and deck, reduces believe well deliver which across pleased per is performance, seen we variability partially improves which development well to program as asset. as underlying investor can the recoveries XX our very be be to Slide the importantly, Most wider expectations above with in of on of spacing, our performance practice continues our attributed
per in $XXX means From price an the million a at million remaining price perspective, of we XXXX, million course of that And of average about $XXX capital return over have of stock average authorization. million per worth $XXX repurchase fourth on $XXX.XX our repurchased $XX repurchased about quarter, we share. for an of share the share. currently $XXX.XX This
the and XXXX, $X.XX with of per repurchases combined generating flow this quarterly dividend for share. per share yields declared per share, a quarter, of variable the quarter have adjusted of we level during dividend base the free $X.X When fourth cash share. total the a $X.XX this of dividend Given
gross a volume we Chord with oil plans full and a consensus slight XX At On in are program wells complete expecting an working XX%. XXXX. to XX operated deliver to with approximately to estimates. inline interest level, growth to deliver of basis, XXXX year Turning average
two-thirds concentrated Completions turn our the in over is second or during with of quarter third expected XXXX quarters. activity tills in these lines and of
volumes the completion tills affected volumes of weighted But lingering production downtime being this January. sequentially with XX have XXXX is expected weather quarter only for each in the back-end we are saw as quarter year. is highest and the by first to fourth increase The well as expected to quarter timing
to I moment mentioned impact detailed for the its a XXXX is Slide discuss wanted of frac our our downtime and XXXX, call, on which on X a protect deck. on expectations earlier little and to due investor spend
whether wells As until inclement in weather volume those we delayed, the concluded. completions previously those from not are just wells that discussed, delayed a are conditions due precautionary activity, mechanical also shut activities nearby to impacts surrounding that but completions has issues, standpoint, delivery or of
weather and downtime. extended FBIR very while led high frac to XXXX, delays, Sanish, issues and areas densely and developing protect developed Indian Hills, In mechanical and like
XXXX the are frac of less relatively makes For concentrated protect completions less year-over-year. program, in which congested issue an areas,
to lift we the implementing we XXXX, downtime best improve Additionally, over related are expect practices from the as to year into merger. artificial
is to As this demand XXXX, supply service dependent are prices, uncertainty in-depth that we call. look variables and related landscape at which on I the there obviously for on capital investment various discuss won't
plateaued are note utilization While certain remains there has remains would I that, high signs equipment areas, in some pricing pricing elevated. and
have consensus the incorporate I million in we $XX Taking to roughly significant our best XXXX, quarter $XXX discussed previously. $XXX from view, once pushed of expect to approximately which inline year, which invest capital year-on-year which experienced, with inflation of capital that is for million fourth million accounting of does the we last
online consistency, also supports performing are effective laterals on expecting as we part we in Indian Importantly, which the is are and tills from of first believe Hills a not of our of but efficiency year operations, focuses the the safer operational XX% approximately X-mile half We by story operations. brought are operational XXXX and XXXX. second only cost they also development Chord's big synergies efficiency last merger X-mile and support to supported laterals our comprise derived program nicely. This strategy. X-mile laterals in in
economic X-mile around what Slide X-miles X rate Chord's when uplift with a from seeing culminates at we illustrates of to of X-miles. and XX% going expected XX $XX to total, performance points reinvestment XXXX an result in program about are is In WTI. in
to Michael. and want over on I a Finally, to passing spend before sustainability ESG moment it
we a to market in We've dedicated disclosure robust these performance this and are providing of letter our our ESG improving closing with combined the interest the merger, provided of we pro and along in the Following company. to to forma the posted metrics the remind for areas. transparency shareholders information
have And to in in see opportunities Chord XXXX, we intensity plan we and report. strong to resume continues performance publishing full a improvement. further sustainability GHG for
intensity short, over focus Additionally, and and corporate freshwater on focused you'll Chord our has with disclosure improved the board. see continue contractors continued improving In grow of governance. safety performance our maintaining to the across and employees a time remains strong on
Michael from for some turn updates. it to now I'll over additional
