Zach Parham

“Buybacks were relatively smaller in 1Q at $10 million, and you bought back around $45 per share. So those buybacks were done mostly early in the quarter. The stock's moved quite a bit higher since, but so is the commodity.”

“And, James, you mentioned this, your prepared remarks, and it's also in the slide deck, but you have a well-kewn slide comparing the last few years, and 2026 expectations are slattish to it looks like slightly up on a lateral foot-adjusted basis.”

“I wanted to follow up on Matt's question earlier. In the slide deck, you highlighted an increase in your first-year cumes that you expect from the Hainesville in 2026.”

“Following up on D&C cost: you're at $7.50 per foot now, down over $100 per foot from where you were coming into 2024. Can you detail the drivers of that reduction—how much is efficiency gains versus cost reductions?”

“I guess first off, maybe just a follow-up on the buyback, do you have room on the revolver to buy back shares this quarter? You’ve been very aggressive with the buyback thus far.”