thanks quarter us morning, Good joining for for Al. first our everyone, Thanks, call. conference and XXXX
today President, Executive our VP answer of me Janet the Gulf and questions Hersch, Technical Executive and William Facilities; Officer; our with Yang, Completions to Schroeder, these and available -- Vice our and and our General Steve are Williford, Executive Chief Officer; our of Manager, Bump, Drilling, Geosciences, are Chief So who VP call. Financial David Mexico; all Jim VP folks during later
had lower facility XXXX price of commodity and we XX% largest X realization the a pipeline was production substantial and of our -- curtailments fourth at with The quarter first due quarter maintenance fields. repairs compared to
same flow, of And million the to activities adjusted full we've create million and provided by $XX.X the continued operating EBITDA, year. for note guidance we of capital with spite So cash these in challenges, $XX.X remains production million. expenditures net in significant that $XX.X free cash of and generated
beyond what quarter pipeline oil for year-over-year, was slightly per constraints first to facility That primarily prolonged due production of was barrels the equivalent quarter. XXXX, XX,XXX was downtime of our The day. down anticipated
from have facility NGLs. guidance of production this in of first continue was coming downtime, XXXX, range. with and maintenance oil our strong production midpoint came April quarter pipeline In We Despite majority XX% the of the production the to completed. liquids near our first quarter
performance with coupled barrels up production seen ramp well in improved to XX,XXX oil wells, and mid-April of continued equivalent So our new increase day. per of rate over we've
first yesterday's release, second in see quarter up midpoint is production. you our guidance As our XXXX of quarter the about X% production actual from
our production so but exactly provided to that everybody full have XXXX sees that We year. XXXX release, production repeat just want guidance slightly to earlier we've year predicted be we maintained our down, what at year-end in expect we
lower per in $XX.XX first in differentials barrel revenue of quarter per the price realized was sales barrel. first the sales for were Revenues and $XXX.X commodity decrease higher the realized in lower average than WTI crude The barrel driven for Crude quarter quarter and by Cushing $X was sales price averaged roughly NGLs sales quarter. prices. first per first So million. $X volumes to spot the oil $XX.XX the average XXXX, price was realized the
acquisition LOE insurance came first the and operating in first in basis up -- had was to to cost on to we higher for true-up performed component $X.X field. quarter which maintenance a for base million quarter last expenses of that and the for were X first $X.X Mahogany due time prior facility overhaul free the decades. we Mahogany quarter On with total maximize XX% the that field base workover were at the associated facilities million, LOE maintenance expense $XX.X with our of our quarter, the XXXX. in maintenance million, and and So XXXX, line in from in increase Note was of quarter the XXXX was lease $XX.X million. expense facility $X.X spent the million workovers premiums facility haven't was the our had Heidelberg as
reported of or $X.XX of million quarter the XXXX So we per share. net first $XX.X in a loss
a derivative net loss $X.X company's $XX.X share. and per commodity or adjusted primarily unrealized other Excluding the million million was adjustments, $X.XX income
would XX Garden These of In XXX. So shallow in deepwater Green and the on Island consisted assuming all lease term, And These water. X remaining deepwater quarter, turning of and awarded, we X blocks X the apparent and now for blocks acreage. the reflects Sale Canyon awarded and acres. cover shallow XXX% a $X.X XX exception interest Gulf Canyon the blocks Island, to the of The of South water are pay of in X-year of W&T recent with in rate include blocks, operations. leases has have all XX.X%, Eugene one a deepwater was X leases Main this XX.XX%. approximately combined, and in that -- million in the term. Marsh is first high are deepwater bidder which of Gulf Mississippi working royalty which Banks, blocks X-year Mexico approximately blocks rate and Lease blocks Pass a at of All which the the lease the Mexico, XX,XXX leases
the sale, that our excellent number result achieve In program the XX companies ranked we've lease into apparent drilling fourth XXXX, success participated of to continued high XXXX. bids. the of in and So W&T in carried
XXX payback and return. existing activity wells and drilled primarily substantially and at are cash quickly, be infrastructure of flow that and online fairly that Bank shortens of Virgo allows times rates for quick low-risk put Ewing enhances Mahogany, can generation that Our
in brought November the A-XX late last we year. online Mahogany field, well the of on So
was the In our logged higher reached well best the rates than day. ramp up significantly T-Sand A-XX more In shown double perform oil high-quality production T-Sand pay of to thus X,XXX in A-XX early to the well than first date completion well T-Sand oil from barrels and field. day drilled reminder, up-dip in field. a The exceptionally prior and X,XXX As well over equivalent production. equivalent we're the has the production, productivity of a over well. per the third is discovered the index continuing the has barrels of in April, any producing far February, This in T-Sand well per producer staged
in the upon and So recompletion At we in of company as first A-XX is at performed was well planned repair equivalent of the and day in oil well the targeting previously stimulation This well about of program A-XX completion well's T-Sand. X,XXX field. production development daily A-XX Mahogany, and uplift workover barrels equivalent Mahogany also in A-X well doubled on quarter, rate A-XX well on The XXX the maintenance day. the an well the per barrels sidetrack Mahogany, as drilling the the per the referred a acid recompletion to as the mid-April. over began resulted oil A-X the to production
wells, program. XXX% all Mahogany field A-X the which venture interest working of have of We in sidetrack, a part with is joint exception drilling the
Okay.
of The brought the XXX on well to the issue A-X well the the is was rate year, South porosity per wells at logged X,XXX South XXXX Gulf Mexico the of capacity curtailed end due two successfully The the well. well continuing Ewing has of producing barrels was resolved and that are So of is online currently of oil program. handle but completed mid-April, day. predrill A-X from Tim at operator second the in Timbalier A-X discovered drilling of which We intervals the recovery high well on in limited to vapor that first and Tim equivalent two the platform, approximately barrels of XXXX. XXX last we quarter Tim XXX ramp-up completing brought approximately production before Bank expects the XXX In in well per joint a estimates. the these permeability South X,XXX zones. exceeded and online equipment quarter XXX drilled platform, field, to target day. first Operator sand December feet net the equivalent Both was South production pay, venture XXX oil of and
in Virgo vertical XX,XXX A-XX field, venture TD part to sand the X.X and company rig -- The second quarter depth second of X.X XXXX. The found in is program. This depth total feet. well well zone Viosca of depth joint producing of total in online X,XXX well online drilling utilizing Mississippi the is of toward with X.X second we're be the XXXX. to over quarter drilled zone, our Canyon exploration the quarter. pay X.X out fourth first end Knoll So Virgo second At the XXX, XXX of prospect, second in and at the of reach water of planned drilling in feet the XX to the intervals. well net the well with currently the The is the platform XXXX, and of also we was over feet brought in quarter second the first the deepwater expects Gladden currently brought
continue venture joint of drilled We program have and to is very infrastructure our a drilled, X short ability Monza in in wells the leverage completed doing to inception. and get The online to wells of well, have period we since time. current that a total
to XXXX, we've be more since of this XX projects greater wells to We're achieved continue low-risk, wells. XX% drilling success program with our some the in exploration ahead rate will focused looking So than on capital rest proud than high-return XXXX.
and recompletion to continue perform also capital We economic workovers. highly
cash flow, I'd capital that on acquisitions. drill approach which is funding from remind focus bit Our our to to free expenditures we and built taking through was means measured significant while our like to a you, of and the cash company through all grown has with generate continuing are drilling operations.
As plans opportunities. seen, our acquisitions current those that Gulf I've as closely for actively pursue of we as The to the intend for ever good at is opportunities meet looking Mexico we XXXX, acquisition criteria. implement and environment in our we're
cash mentioned the upside a that's properties three recompletions through for upgrades. We cash the in have several to look flow near-term over We for we can I've drill facility with potential with good bit workovers, increase achieve and/or times and formula that flow decades, the past. and worked
through acquisitions. projects, bit we're and drill very That's the probably in our important has that's as flow whether on cash to been accomplishment. the whether So or making notable past, clearly us consistent focusing positive most that's
cash sheet, and we me debt or minimal so W&T ways stay well. We're and use maintaining would and flow. ways similar operationally, basement And within may to and early that have that's using deals, very using debt excess acquisitions focused while there is shareholders, use equity focus W&T year. achieve And accretive since JVs do include mindful believe to course, don't we third-party our shareholder, We to it as value finance utilize We've private acquisitions remind drilling maintaining with been involve will it accretive creating are the creative of shares. our largest as on balance acquisitions. ratios. the who in structures free fund, companies equity We're was continue of on of joint last additional shareholders. which long-term makes structure and delivering other ability I'm think that to acquisitions to for that well partnering established Gulf the to simply We important other prudent pleased equity growth, to with positioned that fund types will I of to to strong of our sense to explore venture so isolation you continue for are to we also incorporating an growth. investments and Mexico
the lines can with for questions. So we open that, operator,
