Live from New Delhi. This is inside with Haslinda Amin, where we will dig into India's fast rising artificial intelligence ambitions and the shockwaves hitting the country's storied I. T.giants. As India hosts one of the world's biggest AI summits. We speak live with Schneider Electric CEO Olivia Bloom, ServiceNow president and CEO Omid Zaveri and Fractal Analytics co-founder and CEO.Trick on the Alarm, uncanny about how this technology is reshaping the world. And we bring you more from our conversations wi ...

Financial Data and Key Metrics Changes - The company reported a reinvestment rate of 36% at mid-60s oil prices, which is a significant improvement compared to historical performance [9] - Free cash flow per share increased by 15% despite a 14% decline in oil prices [39] - The company plans to maintain a production level of approximately 505,000 barrels per day in Q1 2026, down from 510,000 barrels per day in Q4 2025 [17][18] Business Line Data and Key Metrics Changes - The company has shifted focus to co-developing all zones in the Midland Basin, resulting in higher overall returns per section [12] - The average well performance has remained consistent, with expectations for 2026 to align with 2024 and 2025 performance [22] Market Data and Key Metrics Changes - The company expects to reduce its exposure to the Waha gas market from over 70% to just over 40% by the end of 2026 [34] - The company is actively working on diversifying its gas sales to new pipelines and power projects to improve gas realizations [87] Company Strategy and Development Direction - The company emphasizes generating free cash flow per share over simply growing cash flow, maintaining a disciplined approach to capital allocation [9] - The company is focused on optimizing its development style to enhance returns per section and reduce costs [12][52] - The company is exploring opportunities in power generation and natural gas utilization, indicating a strategic pivot towards energy solutions [33] Management's Comments on Operating Environment and Future Outlook - The management described the current macro environment as a "yellow light," indicating caution but also confidence in the company's ability to navigate challenges [38] - The management expressed optimism about the company's long-term position, stating that Diamondback is well-prepared for both adverse and favorable market conditions [111] Other Important Information - The company has successfully sold $1 billion in non-core assets, which has strengthened its balance sheet [42] - The company is implementing continuous pumping techniques to improve drilling efficiency, which is expected to enhance production rates [30] Q&A Session Summary Question: How does the company view its activity in the Permian compared to other operators? - The company maintains a disciplined approach and focuses on generating free cash flow, despite observing other operators accelerating their activities [8] Question: What is the expected CapEx for Q4 and its implications for 2026? - The company indicated a CapEx of $925 million for Q4, which is seen as a baseline for maintaining production levels [17] Question: Can the company elaborate on efficiency gains in drilling? - The company reported improvements in drilling consistency, with a significant increase in wells completed in under five days [28] Question: What is the company's strategy regarding gas sales and pipeline utilization? - The company is working to reduce its reliance on the Waha market and is exploring new pipeline opportunities to enhance gas sales [34][87] Question: How does the company plan to manage its core inventory and development cadence? - The company has approximately 5,500 core locations and is focused on optimizing development to maximize returns [92]

Financial Data and Key Metrics Changes - The company reported over $3 billion in retained earnings for the first time this quarter, a significant improvement from an accumulated deficit just three and a half years ago [12] - The leverage ratio stands at 0.4, indicating a strong balance sheet [12] - The company paid down $670 million of its revolving debt over the past year and currently has about $2 billion in liquidity [13] Business Line Data and Key Metrics Changes - The capital program includes 12 additional wells with a rate of return exceeding 50%, particularly in the Antelope Ridge area [9] - Well costs have been reduced from an initial guidance of $880 per completed lateral foot to a revised range of $835 to $855, resulting in capital savings of approximately $50 to $60 million [10][12] - The company expects to turn on roughly 1.2 million net lateral feet this year, with a positive outlook for 2026 [10][11] Market Data and Key Metrics Changes - The company is positioned to achieve a 2% to 5% organic growth rate in 2026, supported by accelerated operations and strong project economics [11] - The midstream business processed a record 533 million cubic feet per day of natural gas last quarter, indicating robust performance [40] Company Strategy and Development Direction - The company plans to continue raising dividends, having increased it by 20% this quarter, marking the fourth increase in seven years [13][22] - There is a focus on maintaining optionality in capital spending decisions, allowing flexibility based on market conditions [24] - The management emphasizes the importance of operational efficiency and cost reductions in decision-making processes [36][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate lower oil prices, citing strong operational efficiencies and a solid balance sheet [75] - The company is optimistic about future opportunities, with a strong inventory of projects and a favorable outlook for 2026 [76] Other Important Information - The company highlighted the importance of its midstream operations, which provide fee-based revenue and enhance overall stability [40][44] - The management team has a high level of employee participation in stock purchases, indicating confidence in the company's future [73] Q&A Session Summary Question: On operational efficiency and capital spending decisions - Management discussed the balance between capital spending and production growth, emphasizing that decisions are based on multiple factors, not solely oil prices [18][20] Question: On efficiency gains and future projections - Management indicated that there is still room for efficiency improvements, particularly in completion operations, and expects to enhance these gains in 2026 [28] Question: On oil market conditions and spending decisions - Management acknowledged the potential for an oversupplied oil market in 2026 and stated that they would adjust spending based on market conditions [32][34] Question: On natural gas pricing and pipeline capacity - Management discussed the expected relief in Waha pricing due to new pipeline capacity coming online in 2026, which should improve market conditions [58][61] Question: On well productivity expectations - Management expects well productivity to remain strong in 2026, with longer laterals and improved capital efficiencies anticipated [66] Question: On midstream activity and EBITDA outlook - Management noted that growth in Matador's operations would positively impact San Mateo's volumes and EBITDA, with significant capital expenditures planned for midstream projects [70]