Quarterly guidance

Oil volumes
550,000 to 560,000 barrels per day.
Total production
1.66 million to 1.7 million BOE per day.
Capital expenditures
$1.29 billion to $1.395 billion.

Annual guidance

2027 Oil volumes
Approximately 525,000 barrels per day.
2027 Total production
Approximately 1.6 million BOE per day.
2027 Capital expenditures
Approximately $5.3 billion.

Outlook

Shareholder returns
Management intends to use up to 70% of annual free cash flow for returns, including dividends, repurchases, and debt repayments.
Debt reduction
The company plans to retire an additional $1.5 billion of long-term debt in 2027 to reach a gross debt target of roughly $9 billion.
Solitude pipeline
Total investment is expected to be $500 million, with approximately $400 million to be invested in 2027.
Growth strategy
The company expects low single-digit oil growth with a reinvestment rate of 45% to 60% of cash flow.
Permian focus
Approximately 75% of the 2027 capital program will be directed to the Permian Basin.