Diamondback Energy Inc (FANG) Q4 2019 Earnings Call Transcript

Diamondback Energy Inc (FANG) Q4 2019 Earnings Call Transcript

I would now like to introduce your host for today's conference call, Mr. Adam Lawlis, Vice President, Investor Relations.. Taking a step back to review the full year, 2019 was a busy year for Diamondback.. While I'm proud of what we accomplished in 2019, we don't spend any time looking backward at our tracks in the sand, but rather looking ahead and concentrating on the future.. And as evidenced through our announcement today, we are strongly committed to continuing to grow this dividend, which sits at a 2% yield at today's stock price.. Looking to the year ahead of us, Diamondback expects to grow oil production in the first quarter of 2020 on the back of our strong fourth quarter production en route to our 10% to 15% year-over-year expected oil production growth in 2020.. We believe this capital and operating plan reflects the optimal capital efficiency for achieving a peer-leading combination of growth and free cash flow in 2020.. Should commodity prices decline further from current levels, we will be prepared to act responsibly and cut capital further, just like we've done multiple times in the past.. If commodity prices rally, we plan to use excess free cash flow