Monday, July 31, 2023

FANG -- July 31, 2023

Locator: 45259INV.

WTI: $81.85. 

Press release here:

  • average production of 263.1 MBO/d (449.9 MBOE/d) 
  • net cash provided by operating activities of $1.51 billion; 
  • operating cash flow before working capital changes (as defined and reconciled below) of $1.26 billion 
  • cash capital expenditures of $711 million 
  • free cash flow (as defined and reconciled below) of $547 million 
  • increasing annual base dividend by 5% to $3.36 per share; declared Q2 2023 base cash dividend of $0.84 per share payable on August 17, 2023; implies a 2.3% annualized yield based on July 28, 2023 closing share price of $145.64 
  • repurchased 2,427,880 shares of common stock in Q2 2023 for $321 million (at a weighted average price of $132.21/share); repurchased 397,800 shares of common stock to date in Q3 2023 for $54 million, excluding excise tax (at a weighted average price of $136.40/share) 
  • total Q2 2023 return of capital of $473 million from stock repurchases and the declared base dividend; represents ~86% of Q2 2023 
  • repurchased $130 million in aggregate principal amount across Diamondback's 2026 and 2029 Senior Notes at an average cost of 95.5% of par (~$124 million) In July, completed divestiture of 43% equity ownership in the OMOG crude oil gathering system for gross proceeds of $225 million 
  • since initiating our non-core asset sale program, have announced or closed transactions with $1.1 billion of gross proceeds, exceeding our 2023 target of $1.0 billion

The screenshots:


Perhaps more later.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.