Near-term Actions Positioning for Long-term Success 1 Low breakeven assets; 2025 FCF positive (1) at 40 WTI Focused on execution; asset acquisitions are off the table 100+ million cost optimization and efficiency initiative 2…
Cost Optimization Efforts to Strengthen Civitas Production & midstream Capital efficiency improvements optimization Well design and BHA optimization Compression, power, and chemical Drilling efficiency improvements program…
Resilient Free Cash Flow Prioritized to Debt Reduction 2025 FCF sensitivity to WTI ( MM) 1,500 YE Net Debt(1) target achieved at 60 3.50 1,200 1 Resilient free cash flow 900 Cost optimization 2 3 initiative 600 2 300 MM…
Strong Hedge Position Securing Cash Flows Increased oil hedging to nearly 50% of 2025 production Added 8 MMBbls of 2Q25 1Q26 oil hedges with average floors of 68/Bbl Managing basis exposure by expanding Waha and CIG coverage…
1Q25 Results Delivered Added 8 MMBbls Returned 121 MM to shareholders 786 MM Adj. EBITDAX(1) of new oil hedges and 2Q25 1Q26 171 MM Adj. FCF(2) (avg floor price of 68) 50 MM dividends & 71 MM share Delaware Basin drilling Permian…
Permian Basin Overview 1 2 1Q25 highlights N Delaware S Delaware 2025 average TIL production in-line with 1 type curve expectations to-date 2 3 2Q25E production growth driven by Permian, expected to be up 10% quarter over…
DJ Basin Overview NE UT 1Q25 highlights CIVI acreage KS Completions cycle times 10% faster than plan KS Executed first pad with 100% local sand utilization, driving savings of AZ NM 80k/well West Wattenberg Achieved regulatory…
Second Quarter Outlook Total volumes Oil production MBoe per day MBbl per day Permian growth, DJ flat Permian growth, DJ flat 350 160 4% 5% 300 140 250 120 200 100 1Q25 2Q25E 1Q25 2Q25E Capital expenditures Cash operating…
2Q Guidance 1Q Actuals 2Q25 Guide FY25 Guide Total production 311 320 328 325 335 (MBoe/d) Oil production 141 146 151 150 155 (MBbl/d) % liquids 70% 71% 73% Oil differential to NYMEX WTI (0.52) (0.50 1.50) (/Bbl) Gas…
Current Actions Advance Strategic Pillars Pillar Action plan Generate significant 100+ MM cost optimization initiative free cash flow Hedge program increased to nearly 50% of oil volumes at avg. 68 WTI floor Maintain premier…
Appendix
Capital Structure Illustrative capitalization table: 1Q25 Net Debt(1) of 5.1 Bn; YE25 Net debt target of 4.5 Bn or lower (MM) As of 3/31/2025 Robust financial liquidity of 1.5 Bn at end of 1Q25 (cash and Revolving credit facility due…
Hedge Position Summary Contract period 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 Crude oil derivatives (volumes in Bbl/day and prices in /Bbl) Swaps NYMEX WTI volumes 29,000 37,700 61,700 33,000 9,000 -- -- Weighted-average contract price…
Adjusted EBITDAX Reconciliation Adjusted EBITDAX is a supplemental non-GAAP financial measure that represents earnings before interest, income taxes, depreciation, depletion, and amortization, exploration expense, and other non-cash…
Adjusted Free Cash Flow Reconciliation Adjusted Free Cash Flow is a supplemental non-GAAP financial measure that is calculated as net cash provided by operating activities before changes in operating assets and liabilities and less…
Net Debt Reconciliation Net Debt is a supplemental non-GAAP financial measure that is used by management and external users of the Companys consolidated financial statements, such as industry analysts, investors, lenders and rating…
Cash General and Administrative Reconciliation Cash general and administrative is a non-GAAP measure that excludes stock-based compensation, that we believe affects the comparability of operating results as it is non-cash. Cash general…
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