Financial Performance - The company reported approximately $12 billion of adjusted EBITDAX for 2Q25[8] - Capital expenditures totaled approximately $727 million in 2Q25[8] - The company expects to increase net debt paydown to $1 billion in 2025[9] - $585 million was returned to shareholders through dividends and share repurchases in 1H25[9] - The company anticipates approximately $425 million improvement in FCF for 2025[8, 14] Operational Highlights - The company is the largest domestic natural gas producer, with production of approximately 72 Bcfe/d[8] - The company achieved its fastest drilling quarter in company history during 2Q25[9] - The company's annual synergy outlook increased to $600 million, expected by YE26[8] Production and Capital Allocation - The company anticipates full year 2025 production of approximately 71 Bcfe/d[12, 21] - The company reduced FY25 D&C capex spend by approximately $100 million[22] - The company has approximately 19 million net acres and approximately 71 Bcfe/d in 2025[12]

Financial Performance & Outlook - 1Q25 net production reached approximately 6.8 Bcfe/d, generating around $1.4 billion in Adjusted EBITDAX and incurring approximately $660 million in Capex[9] - The company is on track to achieve approximately $400 million in synergies in 2025, with total annual synergies projected to reach around $500 million by the end of 2026[9, 17] - The 2025 plan is on track, targeting approximately 7.1 Bcfe/d production with approximately $3.0 billion in Capex, including approximately $2.7 billion in base capital and approximately $300 million in productive capacity capex[9] - The company anticipates exiting 2025 with a production rate of approximately 7.2 Bcfe/d and averaging approximately 7.5 Bcfe/d in 2026, contingent on market conditions[28] Capital Allocation & Returns - The company's capital returns framework includes a base dividend, $500 million in net debt reduction, and allocation of 75% of remaining Free Cash Flow (FCF) to buybacks/variable dividends, with 25% allocated to cash on hand[10] - The company aims to reduce net debt by $500 million in 2025 from within annual FCF and has allocated approximately $116 million from Eagle Ford divestitures to net debt reduction[55] - Approximately $1.1 billion in debt retirement is targeted by year-end 2025, aiming for a net debt/Adjusted EBITDAX ratio of less than 10x, or approximately $4.5 billion or less in net debt[60] Production & Operations - The company's 2025 production plan targets approximately 7.1 Bcfe/d[27] - Haynesville production is expected to be approximately 2.9 Bcfe/d in 2025[68] - Northeast Appalachia production is expected to be approximately 2.6 Bcfe/d in 2025[68] - Southwest Appalachia production is expected to be approximately 1.6 Bcfe/d in 2025[68]