Technical Gulf our all Vice General and Executive call. Good Janet Thanks our William are Jim the for answer conference questions Mexico; to Vice today me available morning and Manager our Schroeder, Steve Chief joining President Vice Officer; President and call. Geosciences. Williford, With Chief are quarter us you Officer; our President Financial first for our XXXX Hersch, Al. Executive Yang, and of thank They later everyone, during
by compromising COVID-XX months shutting or reacted the lease pandemic the We've oil certainly lower remainder and operated in operational properties. and operating expenditure global oil capabilities, with budget expenses XXXX, across conditions of our several temporarily an for significantly to lowering imbalances, capital weighted last uncertainty margin non-operated created the some those and decisively our safety the of Over without have coupled demand environment supply sector. reducing
in home health we to policy situation our a mandatory and we safety corporate from offices, to employees work corporate always, the continue and monitor reopened office. office, leaders. only implemented follow At and of recently health contractors. the being our we remain our advice the of the government in back will committed March, As and and Despite
operations, our at have gas of our to all conducting We're in our shorebases, daily Alabama. locations. as tested entry our and heliports or prior that instituted as none personnel to field positive well of field For distancing plants implemented for and far thus offshore temperature screening hygiene and we COVID-XX. two employees very pleased We're procedures onshore for screenings
we've has pricing years, focus persevere profitability cycles to improve assets and multiple our the flow maximize and our been to For able through commodity price. constantly nearly of any because strategy XX always at been cash
in find cash to our We drilling fields. pricing even the legacy value and free especially development acquisitions, current methodical foundation right of successful those in expect to generate acquisitions, continue attractive combination solid W&T ability on for property exploitation those exploratory a of and We environment. integration, our and built provide that the to acquisitions, flow, through
and shifted, Bay significantly [well XXXX, natural now we our greater gas. is the production time] Mobile of in mix volumes With acquisition produce
oil as associated experience to higher the the from from natural many natural from benefit natural we not been gas has since could of less prices expect We decreases. production market wells our impacted of an energy peers, downturn same than gas forces gas believe oil as impact by and crude
high after strong Magnolia. continued level and quarter flow. And our Bay with that's and production We've results, Maintained So closing at at first of of EBITDA our our turning deepwater to the remaining performance. field. and acquisition of generating the assets acquired XX% adjusted pleased integrated that Mobile we're a cash
weaker very Adjusted in in came important more for generating EBITDA the at $XX environment pricing This of gave reduce XXXX enabled we versus a quarter. related our we while and below costs to by adjusted substantial XXXX million CapEx despite first acquisitions. EBITDA million the cash a in guidance a all the basis, $X.X million to significant invested million, within or costs was Our excluding program, because CapEx, capital we on is which create XX continued long-term us nearly to debt discount. value $XX.X
or flow. pillars first the up production XX% barrels oil our barrels compared near average generate first first success per XX,XXX and X.X our quarter a That the included acquisition to quarter the the is XXXX, the slightly compared the of fourth acquired XXXX. comprised in interest was This to XXXX. the of One oil XX% and of of our our of up range, of production of three equivalent. of of in both Total equivalent months production Bay initial In Mobile full in the the XXXX, of high-end ability Field XXXX. quarter positive day, of Magnolia was production XX% with first million cash liquids quarter quarter guidance from
and received to So, day announced in that returned curtailments the third party from those X,XXX to of barrels volumes monitor fields to temporarily of shut-in oil X,XXX and production per day return W&T. barrels notice net approximately were production of determine had to our of net late continue Recently per to third shut-in equivalent oil-weighted per time to day operated X,XXX production selected approximately production. production about equivalent us operated we by market curtailments of appropriate the we oil we Boe April, operators and party totaling also
we addition, damage about to the net deferred facilities our quarter. production experience a We the did crystal of in barrels production net any storm. material to shut-in storm of due equivalent an oil tropical second of estimated not portion temporarily with XXX,XXX In due our to impact ball
intend we and visibility We to environment. headed. curtailments, in a efforts we markets guidance greater As combination production reminder, costs withdrawn the markets, due of ongoing provide where continually are the proactive again reduce XXXX once lower to uncertainty balance for production our have commodity cost this and to guidance in of price have
the fourth in declines realized first our XXXX, average pricing declined NGLS, compared barrel for per quarter oil, of with gas. for equivalent of oil quarter, sales price and with natural about XX% So, the
realized crude was average once the average oil pricing $XX.XX with WTI barrel per Our period. price of $XX.XX again during barrel, favorably compared per which sales
in per million. realized our price Our $XX.XX price natural quarter-over-quarter was volumes. barrel, was was the gas by Mcf. decrease first NGL pricing decreased slight and the $XXX.X quarter sales $X.XX by for driven XX% per to Revenues despite increase sales lower The
came costs, in recent sharp acquisitions. to downturn operating in XXXX fourth the million, our additional but guidance, was higher Our the associated at in with Since both first prices two quarter, first reduce quarter reducing LOE maintenance and developed LOE of includes we've costs even facility as quarters contract due which in savings in actions offshore This $XX.X achieve more first the within expenses. our to than costs ways cost transit locations, our consolidation to working and by reducing transportation costs. with workover and suppliers to such our labor
commitment call. these We compliance prior more will of efforts expect not any We'll total, second during to our with quarter results environmental you details of these give on from LOE XX% we levels. In safety, protection operational the to to actions. or by our XX% reduce our about reduce
million guidance quarter the was G&A well XXXX our quarter legal accrual in which fourth in XXXX compensation in Our was XX XXXX. higher incentive quarter expense due to $XX first of for the first million. costs XX.X G&A million, million of to from primarily and below quarter The during the was lower of XXXX XX.X decline first adjustments
$XX.X in net can which commodity G&A We we income included reported continue XX.X costs. non-cash or We gain million gain share, $XX our transaction. associated with to reduce the reduction unrealized look first $X.XX in million further at XXXX derivative of debt and how quarter million per
$X.X Our per $X.XX share. adjusted net or income was million
recently W&T down the we've of by interest was reduced very regularly on Group million. Lien to quarter, outstanding some we've Notes. our XX.X an XX.X repurchased of an spring of that free for responded gain. Bank base XXXX has that this footing same debt the a repurchased borrowing is notes principal $X.X $XXX free cash this completed set repurchased led even for way far of $XX.X in million our environment million, year-to-date of The re-determination. million. forward. flow second which million. moving Senior Thus using portion its the under W&T’s annualized we've that million, long-term $XX.X at will better in by notes financial to for believe In another additional about the $XXX quarter of modestly from first That's X.XX% We million was our use $X to $XX non-cash scheduled of million, good repurchase current over our we expense million So help just cash which outstanding base Bank place borrowing a by Second Group those
and the a Additionally, of the leverage suspension Lien First agreement XXXX. the the of year-end provides amended total to addition X.XX of covenant for X.XX through covenant
be The can the in found details XX-Q. in scheduled redetermination fall XXXX. Additional of is next our regularly
natural release. since Additionally, a several added we oil yesterday's hedges our schedule last in call detailed gas is have and and
million revolving actions comprised our $XXX in million our year this XXX under million, credit stood June so these in all total after availability and liquidity far of So XXXX, as cash facility. XX, of at XX about
than has to have needs million. Our forward $XXX our sufficient balance downturn. our at look sheet good $XXX.X a believe long-term to to going in debt continue meet declined to remaining may strong we notes that to this more continue have senior on from arise and We million liquidity opportunities and
well successfully quarter, feet East net in XXX of the feet. encountered pay in in one and this all the extensive recent evaluate prices best natural to We decided drilled focused generation no and active a over in prospects, water field have East approximately the we the high operations. and of In we it XXX encouraged remain activity to to price over in of oil successfully drilled well We and completion XXX/XXX are we Cameron subject W&T the on this was depth drilling the pricing well, With is X,XXX now at quality completions quarter well the drilling XX.X% uncertain improvement gas first performance but resume for feet will the drilling, infrastructure said, environment. other Cameron of and first near online and the currently first the current Turning total to improvements outlook to to cash for to time, by own half price to The bought continue the operations, remained flow the and crude inventory XXXX a projects. in XXX/XXX, which planned of due we is environment and that thresholds but for increase suspend Cota met. when in certain at long-term, XXXX initial of interest commodity oil once of production XX% and will we're the confident winter. total our is in
the re-completion we well during day. that additional XXX in resulted quarter first performed Boe four So, an one net workovers per and
As XXX we acres These apparent Mexico XX, previously March approximately announced, pay of sale blocks and the BOEM will we block block. two Gulf combined. one cover bidder shallow held leases $XXX,XXX for by W&T the interest high the on of was two included on deepwater which one the in a and in water awarded if awarded, total working approximately blocks XX,XXX XXX% lease
the remain for So about in optimistic we closing, W&T. future
premier We our on low of year actions portfolio our far sheet decline LOE environment. Gulf undertaken strong protection to reduce W&T proactive even a water reducing to have the value lower strong XXXX, us hedge flow, generate spending. and LOE rates The have allow both environment, in should opportunistic our deep remain on significant costs of focused cash with in offering as closely that we for we'll and We this and balance CapEx can and we executing continue and shallow prices that while value. in long-term with properties we managing to water shareholder to maintaining strategy, downside to commodity have pricing book ways operating thus coupled maximize efficiently this done a add upside. our Mexico, in capital We remain and look strong
in that one questions. value in with we W&T’s shareholder shareholders, interests the Our stake well. company. acquisitions we're With which the that more of teams’ our is our truly are ensures public operator, of This and highly lines incentivized any to equity, to open risk. E&P future the up Shareholders mitigate of can given highest of should aligned as maximize for interest management those alignment XX% expect see
