thanks and for everyone, to joining today. on conference day Good Al. our call us Thanks,
are Officer. be So President Executive our our Hartman, our and Wilford, Sameer the during President Vice Officer; Trey Executive answer Vice Officer; Operating call. and and They'll William President with available Accounting me to Chief questions Parasnis, later and Financial Chief Vice Chief
the second quarter, results. very financial and in to continued operational solid report we So
Our the flow of in we and while allow focus cash QX assets free to us generate acquired $XX.X our assets, million. generating on flow free optimizing cash including maintaining
success. years, our For very flow because efficiently generated the we past every to positive X.X operate is cash and we've quarter, free paramount cash know that
EBITDA. reflect continues sheet to as meaningful this we production adjusted balance Our strong deliver and
a we second are the in accomplishments had on quarter, of doing how that strategy. So we number demonstrated our successfully
our guidance to virtually day, barrels oil per of at production QX. so the flat reported XX,XXX midpoint and First, of of we range equivalent
end cost with recorded recent absorption in of second acquisitions, of low expenses focused of Next, We we $XX.X We the our guidance. million. remain generated operating the quarter. control the below thus on lease EBITDA adjusted solid
to by totaled workovers our increase X% cash deferred well.
Also, So we us acquisition XXXX cash and and equivalents flow, strong we our to end generated free synergies maintenance of some to net from XX%, million. realize as January $XXX facilities second allowing at by $XXX.X and the quarter million and our debt property continue cash expenses the decreased
XX% We paying Associates. payment later quarterly We in XX% billion. third operational and and in of our occur is Crude build shareholders, this these the increased increased reserves our consecutive execute our saw cash, proved and us those cash million of position midway remain we solid $X.X operationally, reduce help continued focused barrels this on continues equivalent, This and net by our to through announced financial our very to PV-XX execution good and XXXX reserves will balance evidence meaningful dividend reserve month. of quarter build ability debt and results. a SEC returning XXXX, sheet.
We're to to on Netherland, midyear support the generated to our XXX.X to Sewell oil increases strengthen further third
to to over realize worth integrating proven generate of potential near-term of many continue cash assets acquired the with we've into base, come. newly well long-term asset for our So are for costs years incurring acquisitions it XX that flow us that years to experience
Regarding acquisition, good these asset to integrating new into assets continue the make Cox progress W&T. we
with successfully Mobile quarter, second May the negotiated new agreement expectations. gas XX to returned at we on the a with at production a During XXX beneficial processor field Bay consistent and rates
the now are recently production, Cox X With on acquired of fields that X the production. of return field
shore is longer-term to each this sales short-term -- remaining work up we through fields. the routes. shut-in excuse their viability me, path parallel the rights existing believe alternative these return either to to necessary production, sales sales routes expert fields, in For delay X continue or of on We
capital These operations flat in production $X.X spending to and workovers us that quarter second million from to assets while virtually in of production able performed addition normal quarter. of offset XXXX, the these are new type the X production QX during for and a positively recompletions decline. help in only XXXX, expenditures. X were our We maintain impacted [indiscernible] the boost So for we
So in third third-party issues We're full release, Cox and our impact bankruptcy. reflects our barrels third expectations. earnings production quarter we be projecting guidance per day, XXXX around which XX,XXX the to due year the provided pipeline our updated quarter oil to of of
these spend account as of on the year. experienced the expenses in full acquired we as plan matters So we projects quarter the well adjusted we delays January.
We the production do for more to cost in take deferred as lease our third year operating in restoring at the earlier guidance XXXX, third we couple the of into to we've some quarter pulls undertake a in
ability of our benefit reduction expense million into we lowered about recent estimated acquisitions. total full $XXX $XXX lease It's a of a to to However, and cost at million. lower synergies our of year operating the to the midpoint take range account from to X%
have We operations area. in other the
acquired We optimize excluding For invest existing year-to-date.
These XXXX in continue $X.X to and million are primarily directed in expenditures to expect late the we facilities early XXXX, million CapEx, and and about fields production. million million projects acquisitions. maximize $XX.X and to incurred $XX new to in in our to the $XX second XXXX fields quarter
so invested So reserves. in replaced we've far acquisitions, $XX.X million than regards and XXXX, more in we've to
So report. to before call, I close our tell I you midyear reserve the XXXX like about would
of oil positive XXXX, a equivalent when The XX% XXX.X SEC million were included million proved equivalent and of about acquisition the equivalent barrels XXXX. oil oil million barrels reserves For than and of oil which of revisions is million barrels half the X.X due oil of of by transaction. to million additions of performance what offset the XX.X announced barrels first reported equivalent, acquisition equivalent we partially midyear we XX.X higher initially we X.X in barrels of production anticipating
performance new report assets. also We're revisions. with in As potential midyear this these positive you see, that believe we tremendous has there can pleased is again
again. all déjà over So vu
undeveloped.
The barrel $X.XX based PV-XX gas midyear The percentage of XXXX. XX-month proved the PV-XX per using liquids XXXX liquids, XX% XXXX and at pre-tax $X.X well, proved of crude XX% accretive was year-end billion. midyear proved XX% was $X.X NGLs reserves and PV-XX nonproducing proved justifying oil average to were MMBtu. largely classified compared crude oil Reserves increase XX% due of X% reserves the as in and So natural development an XXXX billion proved as and in developed proved increase further XX% and SEC the prices $XX.XX per SEC these acquisitions. producing, had acquisition we Midyear That's reserves were with on of SEC with natural pricing XX% approximately were XX% of gas.
corporate for gas. have prices is We we've our success While initiatives, culture Dr. work Environmental we our of positively of barrel added governance year-end communities a board addressing Committee improvement Nancy we highest $XX.XX is stewardship, commitment built our member, and standards efforts. and of Gulf employees Chang. MMBtu provide XXXX were ESG to high-performing to built on and per meaningful sustainable ESG oversees of helping we $X.XX of portfolio assistance to where a assets and our concerns contributing metrics. shareholder flow believe continuous Governance years.
In the per Safety Mexico regard that continue effort oil a and Chair operate. the and our ESG is and in will XXXX, W&T's ongoing Nancy ESG of concerted the cash and governance. made and in us Dr. guide our to In sustainability environmental of many sound improving new our Chang that to corporate natural
issue we which XXXX be Our sustainability will the when we've few ongoing on commitment initiatives. the made will ESG next report our continued in our demonstrated progress highlight weeks,
we're positioned remainder team to of XXXX. add sincerely I'd W&T and at thank Now XXXX value the well like as into to our for
Gulf reserves assets out enhance scale drilling future. integrate our investors for in to more of acquired and position to past We'll and be that's venture us strong Our assets proposed would component XX-plus to that our is We'll joint rolling a very our enhance production that we acquire on more remain over optionality the the of the years. enhances key allowed balance ability sheet have grow cash and soon. and potential potentially not-too-distant Mexico Acquisitions success the W&T. that our of robust complementary
very the shareholder, believe to as largest company's beyond. I is positioned succeed well in W&T So XXXX and
those focused communities helping our to base. Our are with highly flow XX% entire given W&T's equity, of aligned excellence, the shareholders, cash our and public asset the our of in E&P meeting management one is highest of our of team's obligations, on operational serve stake potential our interests which maximizing any company.
We're
with questions. operator, the can open So we for lines that,
