Centennial Resource Development, Inc. CDEV recently provided some encouraging information from its operations. On Jul 13, the company highlighted its focus on boosting capital efficiency in the DUG Permian and Eagle Ford Conference in Fort Worth, TX.Centennial has around 81,700 net acres in the prolific Delaware Basin. It has a contiguous acreage position in the region, with minimal federal exposure. The company is using data science and machine learning to predict production results across the shale play. The data gathered from different sources is enabling it to modify its completion techniques.The company built a predictive tool, which is helping Centennial in improving well results and modelling. It is bringing in data from a proprietary tool, geology and geophysical software, and a reservoir and modeling software to a central data repository, which is likely to drive capital efficiency.It is reducing lease operating expenses through electric substation, as can be seen in Reeves County. The electrification of the well sites reduced the use of generators, which not only decreased equipment rental costs but also is likely to improve emission from operations. The move is also expected to play a crucial role in reducing production downtime. Moreover, the company is focused on lowering drilling and completion costs. Its cost-reduction measures are assuring.Importantly, the company is likely to significantly reduce leverage this year. At the end of the March quarter, cash balance amounted to $10.9 million, which increased from the fourth-quarter level of $5.8 million. Moreover, long-term debt outstanding amounted to $1,063.8 million, with a net debt to capitalization of 29.4%. In fact, Centennial’s debt-to-total capital ratio has persistently been lower than the industry over the past year, reflecting reduced debt exposure. This can provide it with financial flexibility for growth projects. It has no senior note maturities before 2026.Price PerformanceShares of this company have gained 50.9% in the past three months compared with 24.3% rise of the industry it belongs to.Image Source: Zacks Investment ResearchZacks Rank & Other Key PicksThe company currently carries a Zacks Rank #2 (Buy). Other top-ranked stocks from the energy space include Murphy Oil Corporation MUR, Extraction Oil & Gas, Inc. XOG, and Magellan Midstream Partners, L.P. MMP, each having a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Murphy Oil’s bottom line for 2021 is expected to surge 131.2% year over year.Extraction Oil & Gas’ profits for 2021 are expected to jump 450.8% year over year.Magellan Midstream’s bottom line for 2021 is expected to rise 7.2% year over year. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Magellan Midstream Partners, L.P. (MMP): Free Stock Analysis Report Murphy Oil Corporation (MUR): Free Stock Analysis Report Centennial Resource Development, Inc. (CDEV): Free Stock Analysis Report Extraction Oil & Gas, Inc. (XOG): Free Stock Analysis Report To read this article on Zacks.com click here.