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.