Civitas Resource Inc. (NYSE:CIVI) Q4 2023 Earnings Conference Call February 28, 2024 10:00 AM ET
Company Participants
Brad Whitmarsh - IR
Chris Doyle - CEO
Marianella Foschi - CFO
Hodge Walker - COO
Conference Call Participants
Neal Dingmann - Truist Securities
Tim Rezvan - KeyBanc Capital Markets
Leo Mariani - Roth MKM
Oliver Huang - TPH&Co Company
Phillips Johnston - Capital One
Kevin MacCurdy - Pickering Energy Partners
Operator
Good morning. My name is Audra, and I will be your conference operator today. At this time, I would like to welcome everyone to the Civitas Resources’ Fourth Quarter 2023 Earnings Conference Call. Today's conference is being recorded. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]
At this time, I would like to turn the conference over to Brad Whitmarsh, Vice President of Investor Relations. Please go ahead.
Brad Whitmarsh
Thank you, Audra. Good morning, everyone and let me say that I'm thrilled to be a part of Civitas, a great team with great assets and a forward-thinking vision. I'm joined today by our CEO, Chris Doyle; CFO, Marianella Foschi; and COO, Hodge Walker.
Today's webcast and conference call coincides with our fourth quarter 2023 and 2024 outlook release. Our published supplemental slides and the 10-K all of which were published on our website yesterday. In addition, we've announced the large share repurchase transaction yesterday afternoon. So hopefully, you've had a chance to get through all of the materials that we have provided.
During this call, we will make certain forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially from our projections. Please read our full disclosures regarding forward-looking statements and other disclaimers in our earnings materials and most recent SEC filings. We may also refer to certain non-GAAP financial metrics. Reconciliations of these items can be found in our earnings release and our SEC filings as well.
After prepared remarks, we look over to a question-and-answer session. As always, please limit your time to one question and one follow-up so we can work through the least efficiently.
I'll now turn the call over to Chris for opening comments.
Chris Doyle
Good morning, everyone, and thanks for joining us today. Let me also welcome Brad to the Civitas team. There are three primary things I want to cover today before we take your questions. First, a quick recap of the significant progress we've made over the last year. Civitas is a remarkably different and stronger company today. Next, I'll share a few highlights from our fourth quarter and 2023 financial and operating results. Finally, we'll discuss our 2024 outlook and how we're extremely well positioned to create substantial shareholder value moving forward. Our '24 plan has been optimized compared to our previous outlook as we reduced our capital expenditures by $150 million, while maintaining our expected full year production.