The company completed the GRP and Lario acquisitions, adding significant net royalty acres and leasehold interests in the Permian Basin. These acquisitions demonstrate a focus on expanding the company's resource base.

The company formed Deep Blue Midland Basin LLC, contributing water assets in exchange for cash and a 30% equity stake. This move indicates a strategic focus on managing water resources and potentially generating additional revenue.

The pending acquisition of Endeavor for $8 billion in cash and 117.27 million shares of common stock is a transformative transaction, expected to close in the fourth quarter of 2024. This acquisition would significantly increase the company's scale and market position.

The company's average daily production increased to 447,707 MBOE/d, up from 386,005 MBOE/d in the prior year. This demonstrates the company's ability to increase production through drilling and acquisitions.

The company drilled 350 gross horizontal wells and completed 310 gross horizontal wells during 2023, demonstrating a continued focus on horizontal drilling techniques to maximize resource recovery.

Management expects to spend between $2.30 billion and $2.55 billion in 2024, with the goal of maintaining flat production throughout the year with less capital and activity than 2023. This indicates a commitment to capital discipline despite inflationary pressures.

The company acknowledges that its financial performance is highly dependent on volatile oil and natural gas prices. This is a recurring risk factor that could significantly impact revenue, cash flow and profitability.

The company identifies climate change-related regulations and policies as a risk that could increase operating costs and reduce demand for its products. This includes the methane emissions charge imposed by the Inflation Reduction Act.

The company acknowledges the risk of cybersecurity threats and disruptions to its business and operations from breaches of its information technology systems. This highlights the importance of data security and operational continuity.

The company acknowledges that it competes with other companies that may have greater resources. This highlights the competitive nature of the industry and the need for ongoing innovation and cost efficiency.

The company notes that it typically sells production to a relatively small number of customers, which could pose a risk if any of those customers were to reduce purchases or experience financial difficulties.

The company operates approximately 98% of its Permian Basin acreage, allowing it to better execute on its strategies of enhancing returns through operational and cost efficiencies. This level of control provides a competitive advantage.

The company emphasizes its focus on low-cost development strategies and continuous improvement in operational, capital allocation and cost efficiencies. This indicates a commitment to controlling costs and improving profitability.

The company provides average drilling days for various lateral lengths, indicating a consistent level of efficiency in drilling operations. This consistency is important for maintaining cost control.

The company's investment in Deep Blue provides an integrated midstream water infrastructure network with over 800 miles of pipelines and significant water storage capacity, indicating a focus on efficient water management.

The company has approximately 5,596 square miles of proprietary 3-D seismic data covering its acreage, which facilitates the evaluation of its drilling inventory and provides insight into future development activity.

The company continually evaluates and implements hydraulic fracturing practices that have and are expected to continue to increase recovery and reduce completion costs, indicating a focus on technological innovation.

The company notes that it is utilizing the latest available horizontal drilling and completion techniques, which may result in economic development of zones that are not currently viable. This indicates a focus on technological advancement.

The company intends to distribute 50% of its quarterly free cash flow to stockholders through a base dividend and a combination of stock repurchases and variable dividends. This demonstrates a commitment to returning capital to shareholders.

The company repurchased $838 million of its common stock in 2023, leaving approximately $1.6 billion available for future purchases. This indicates a belief that the company's stock is undervalued.

The company states that it will use free cash flow to pay down newly-added debt, indicating a focus on reducing its debt burden and strengthening its financial position.

The company has set a medium-term goal to reduce Scope 1 and Scope 2 greenhouse gas intensity by at least 50% by 2030, indicating a commitment to environmental responsibility.

The company has a near-term target to source over 65% of its water used for drilling and completion operations from recycled sources by 2025. This demonstrates a focus on water conservation and sustainability.

ESG metrics represent 25% of the company's annual short-term incentive compensation plan, indicating a commitment to integrating sustainability into its business practices.

The company's performance is highly dependent on the volatile prices of oil and natural gas, which are influenced by various factors beyond the company's control. This highlights the sensitivity of the company to market conditions.

The company acknowledges increasing focus on climate change and related regulations that could impact demand for its products and increase operating costs. This highlights the changing regulatory landscape.

The company notes the potential for disruptions in the supply chain, including the availability and cost of rigs, equipment, raw materials, and oilfield services. This highlights the importance of supply chain management.