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Achieved a 15% reduction in Haynesville breakeven costs through operational efficiencies, including self-sourcing sand and optimizing completion designs.
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Transitioning corporate focus ‘beyond the wellbore’ to capture a larger share of the natural gas value chain, targeting a $0.20 per Mcf realization uplift.
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Relocating marketing operations to Houston to increase proximity to Gulf Coast demand centers and improve competitiveness in trading and commercial deal-making.
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Attributed strong 2025 performance to the successful integration of the Southwestern merger and a disciplined hedging program that generated $200,000,000 in gains.
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Maintaining operational headquarters in Oklahoma City to preserve the technical execution that drove record drilling efficiencies and inventory expansion.
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Prioritizing balance sheet strength and debt reduction as ‘non-negotiable’ foundations before considering more aggressive shareholder returns or M&A.
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Acknowledged disappointment in the pace of new demand facilitation, prompting a tactical pivot toward more aggressive pursuit of industrial and LNG partnerships.
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Guidance for 2026 assumes a maintenance capital program capable of efficiently delivering between 7.25 Bcf and 7.75 Bcf per day based on mid-cycle pricing of $3.50 to $4.00.
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Anticipates a 6 to 9-month search for a new CEO with a mandate to lead the company’s expansion into global energy markets and downstream integration.
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Expects to become a full cash taxpayer by the late 2020s, with a gradual ‘stair-step’ increase in tax obligations through 2030 due to the exhaustion of tax benefits.
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Strategic roadmap for the next 3 to 5 years focuses on securing ‘wellhead to water’ agreements and facilitating new demand through infrastructure partnerships.
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Western Haynesville appraisal program will focus on long-term decline parameters of overpressured gas reservoirs with first production expected in late Q1 or early Q2 2026.
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Winter Storm FERN caused temporary production impacts in the Haynesville due to ice accumulation affecting power infrastructure and water management.
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Management signaled a shift toward less prescriptive share buybacks, opting for opportunistic execution rather than fixed market signaling.
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Identified a 35% to 40% growth in natural gas demand over the next five years as the primary driver for the company’s organizational restructuring.
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The West Virginia Utica is being positioned as a high-potential growth area, leveraging deep-gas drilling techniques perfected in the Haynesville.
