Q3 2023 Earnings Presentation
Our Disciplined Business Model
DISCIPLINED
GROWTH STRATEGY
"
MODERATED OIL GROWTH targets: up to 5% annually
Focused on growing per-share value
CONSISTENT
REINVESTMENT RATES
■ Returns-driven strategy prioritizes FREE CASH FLOW generation
■
Optimizing results with steady activity levels through the cycle
ATTRACTIVE
CASH RETURNS
MAINTAIN
LOW LEVERAGE
PURSUE
ESG EXCELLENCE
☐
Strategy designed to deliver higher cash returns vs. broader market
Optimize allocation between DIVIDENDS & SHARE REPURCHASES
Net debt-to-EBITDAX: 0.7x (as of 9/30/2023)
Strong liquidity & low breakeven levels enhance FINANCIAL STRENGTH
ESG initiatives incorporated into COMPENSATION structure
■ Committed to aggressive emissions reduction targets
| Q3 2023 Earnings Presentation
3View entire presentation