the last and Good sheet to by protect recent gas actions and the morning, our industry. cash everyone. aggressive oil our outlined call, faced volatility balance On we we undertook flows given
cost positioned and We have XXXX well G&A beyond. reductions we're and significant achieved operating in and for
contractors protocols. Gran communities safety forecast. of now to and pleased initiated activities challenges developments operations for throughout is achieved the our protocols restart during activities the strict underway. We and local allowed of our and we the of diligent excellent accordance and has the we in activities several paramount. Production progress beginning is development management with are commend how resume COVID-XX earlier Colombian also required their their The many is originally of discussed and that with We're where XXXX up workover we teams operate Tierra We restarted COVID-XX our staff, to ramp work have portfolio safely operations. safety safe the which then with
One objectives base safety positioned finish a set XXXX volatile control withstand and constructive environment the operational XXXX. of to we're for up structure in allocation key believe while strong order of our We maintaining the is conventional to low decline, our timing, and ensuring and to asset oil our well the for capital current base low-cost people. with
and production highlights. Now I'll the some discuss financial of
the during $XX QX quarter, balance $XXX had the approximately quarter to from Gran sales. cash oil XXXX. of QX. and receivable million had million end per day, Our tax cash and end credit facility both Colombian paid million XX,XXX production is Gran collected in Through direct VAT approximately has Tierra X% per and the third was income down Tierra barrels total from equivalents. also of third VAT on $XXX Government of barrels the of oil of at $XX Current refunds production day. By XX,XXX the our million down and compared its
an workover XXXX. QX, of per a and first the of X% basis on G&A $XX.XX On oil cost has maintained QX in down relative majority XX% expected basis, operations GT in reduction. in a transportation the aggregate operated down this of a million The these to structural these QX, be decreased expenses to of over During from were in which to cost rising improvements reductions barrel represent quarter XX% environment. year timeframe. price are same combined $XX $X were per expenses barrel million
compared in also save and be completion to at by drilling capital costs approximately XXXX. cost ongoing expect XX% Costayaco of result reduced future to and well a initiatives, As we per XX% Acordionero
significant With expenditures $X due at oil challenges price relatively a QX keep elected low volatility million. capital COVID-XX. Gran Tierra the to to logistical
million oil ceiling non-cash $XXX net test occurred period. was from from in trailing QX's loss of lower impairments which non-cash net $XXX prices was These of capital EBITDA in million. respective QX QX QX's includes XX-month QX's $XXX million Our $XX test excess million. in fund loss including were of was ceiling results from a QX's flow up million These million rolling impairment million up an expenditures. are $X that operations a impairment significantly $XXX adjusted non-cash $XX result improvement QX's million. $X
by barrels turn downside day During Operating per In XX,XXX Chief in aggressive the is XXXX Brent environment facing collars, first XXXX. near-term X,XXX actions for balance day of G&A discuss of taken our quarter, fourth production summary, and volatility We've and protect a we significant highlights. reductions operating operational entered flows into low-price price our the total we've the to over and the achieved further call Officer for hedged now XXXX. recent hedges three-way cash sheet against half to of per securing additional oil quarter Tony, industry. we're well for given I'll to positioned barrels cost
