Civitas Resources, Inc. (NYSE:CIVI) Q2 2022 Earnings Conference Call August 4, 2022 10:00 AM ET

Company Participants

John Wren - IR

Chris Doyle - President and CEO

Marianella Foschi - CFO

Matt Owens - COO

Brian Cain - Chief Sustainability Officer

Conference Call Participants

Neal Dingmann - Truist Securities

Leo Mariani - MKM Partners

Nicholas Pope - Seaport Research

Noel Parks - Tuohy Brothers

Michael Scialla - Stifel

Bill Dezellem - Tieton Capital

Operator

Good morning. My name is Julianne, and I'll be your conference operator today. At this time, I would like to welcome everyone to Civitas Resources Second Quarter 2022 Earnings Conference Call. All participants are in a listen-only mode. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the call over to John Wren. Please go ahead.

John Wren

Thank you, operator. Good morning and welcome to Civitas' second quarter 2022 earnings conference call.

I'm joined today by Chris Doyle, President, and CEO; Marianella Foschi, CFO; Matt Owens, COO, and Brian Cain, our Chief Sustainability Officer. Yesterday, we issued our earnings press release, filed our 10-Q, and posted a new investor presentation which is available on the Investor Relations section of our website. Please be aware that on today's call, we may make forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from projections. Please read our full disclosures regarding forward-looking statements in our 10-K and other SEC filings.

On today's call, we may also refer to certain non-GAAP financial metrics. Reconciliations to certain non-GAAP metrics can be found in our earnings release and SEC filings as well.

I'll now turn the call over to Chris Doyle.

Chris Doyle

Thanks, John, and good morning everyone.

I'm excited to talk about our results in the second quarter, but I want to start by highlighting what I see as the fundamental pillars of how we run our business. First, operating assets to maximize free cash flow.

Second, maintain a fortress balance sheet. Third, commit to returning meaningful capital to shareholders, and fourth lead the way in terms of environmental, social, and governance. We believe this is a winning formula to create a durable or sustainable and certainly more investable business through any cycle. We have been and will continue to be strong believers in the value of consolidation but only as those opportunities enhance, extend, or optimize our business around those four pillars.