Strategy Continues to Drive Value Pillar Key Ingredients Highlights Capital efficient asset base 1 Generate Free Cash Flow Low operating costs Minimizing reinvestment rates 2024 outlook of 1.8 B FCF(1) 0.75x leverage target…
Permian Basin Asset Highlights Premier rock in Lower 48 with multiple 3Q23 Production: 101 Mboe/d, 49% oil(1) 1,200 High Quality Operated Locations(2): 1 proven targets 3Q23 Activity: 7 operated rigs, 4-5 640 locations 40% IRR…
DJ Basin WY NE One of the lowest UT breakeven oil basins in America KS KS AZ NM 85+% of 2024 permits in hand or in process Asset Highlights 3Q23 Production Low operating costs 168 Mboe/d, 48% oil and decline rates…
Returning Capital to Shareholders Shareholder Return Highlights Dividend Yield (1,2) Nearly 700 MM in base and variable dividends will be paid 8.2% Base Variable in 2023 7.5% Update this Civitas repurchased 300 MM of its…
Updated 2023 Guidance Prior 2023 Updated 2023 20241 (5 months Permian) (5 months Permian) No changes Scaled positions in the three Total Production (Mboe/d) 200 220 210 214 325 345 lowest breakeven oil basins Oil Production 95 105…
A Stronger, More Sustainable Civitas DJ BASIN 470,000 net acres High Quality, Diversified Portfolio 1,000 locations Significant Free Cash Flow Peer-Leading Shareholder Returns Strong Balance Sheet PERMIAN BASIN(1) 112,000…
Appendix
4Q23 Dividend Calculation Quarterly Variable Dividend Framework (1) 50% of FCF (before changes in working capital 4Q23 Total Dividend Calculation (MM) and after base dividend) Av erage Quarterly Free Cash Flows Ov er Prior 12…
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