everyone. capturing John. closing We’ve business. particular, our in been morning, year-to-date DJ deals this to quarter, busy extremely in deliver while the and on Thanks, continuing Good Permian, and now transformative two certainly
see top can both estimates our You and operating financial production flow. consensus cash for strong very second results are and that and quarter
levels we’re reallocate and with In and in the capital projects Colorado. of expenditures investment managing savings for addition, our allowing under expectations our some capital to activity quarter us to value-adding
to continuing record track our laser-focused of our upon are build promises. on teams on Our delivering
shareholders, an month, yields the a stock with balance Civitas E&P next of than that cycles prove company dividend Our can our maintaining an to active through highest alongside to million assets year-to-date more of return dividend repurchase sheet. to strong results commodity program. our $XXX return continue high-quality one while will also Inclusive payment cash shareholders
a we balance announced sheet. strong to our acquisitions, commitment our reiterated When we’ve unwavering Permian recent
that from underway high-grading near-term mid-XXXX. to part of quickly portfolio debt away simply, proceeds our in with by while reduce our divest development our us The assets well allow are plans assets not million non-core $XXX will plan. to We’re
at target capital key mid-cycle we’ll that forward, leverage strong again, return to And of can sustainable deliver is returns. pricing. Looking building a business maintaining three a quarters shareholder top of structure
taking cover questions highlights. quarter Permian second me closed our quickly discuss Before recently and our your transactions let today,
Our scale a Civitas The of Permian. X best strategic diversified into the new perfect new basins are These in Permian advance duration and into oil assets accretive an our for is platform and America. entry provide fit create in Civitas instant with pillars. deals North a scaled, the
this but on check As deals we’ve and generating said in industry, commodity the focused matter focused boxes. getting those we’re bigger, shareholders not on before, sustainably rewarding These we’re scale cycle. does really cash our through free
metrics. how asset of delivering base provides decade basins top now our allocate in well the flexibility reduces low high-quality, certainty capital, with Civitas we diverse Civitas on a the of enhances and A locations about has breakeven risk on X U.S. across
and activity us for plan Our our proven we assets In provided deliver our assets. updates with provide high-quality Permian our for in shareholders. today’s business production to ability and deep duration with inventory and a value scale confidence deck, new matching
maintain averaged assets on the in about quarter. second BOE third per are day, to running line XXX,XXX during oil into in day XXX,XXX which the we the heading expectations, investments was the was the per quarter, Production XX% which Currently, day. and closed, to look across look we’ll with assets. around per of There BOE BOE our the fourth rigs When can Basins. currently activity XXX,XXX allocate around year the running for best now DJ, levels optimize our Permian and are Delaware Midland ways X exit and
Permian XXXX. about rigs in X and total the run DJ We throughout expect to
costs, announcement. production production, day since production XXXX, transactions. full costs Today’s of line, ‘XX for include oil cash materials unchanged Permian differentials. and the capital outlook announced For we the taxes the operating price are year for guidance when preliminary our investments, we Bottom provided outlook total
including Our billion investments, months our the full are expected year be at to capital of midpoint. assets, X new about $X.X Permian
encouraged softening and certain combined in recent we’re we’ve by seen guidance drilling, casing, for our early, consumables and include It’s some of sand. are We capital maintaining the mud, company. so the services
back correct. As to of market we our deflation efficiency capital. back the in and opportunistic could or the to model Certainly or shareholders. beginning back early year, said savings into we like our the year balance into to heading we XXXX, our or coming this will to allocated seeing half too on allocate to development potential we programs be sheet but how gains disciplined be Any
Since planning we’ve integration. been the for announcement,
particular, We companies, very in is combining it going and have early successfully recent well, be experience, innings. integration this obviously,
with very forward teams and assets, We’re impressed building these our the we behind upon look to success.
to with Hibernia service have X-month to We the looking place Rock a Tap and transition we transition in identify wherever top align with retain out organization, the accelerate and can. seamless agreement the transition. talent, team, Concurrently, both we’re building a broader ensure
about and flow summarize strong BOE the quickly driven me $XXX per XXX,XXX free really Civitas results. quarter Let second by our higher-than-expected delivered production of production, expenses production, lowering quarter, team investments. in of managing million above day. delivered capital the and second cash On consensus expectations
right about midpoint at over our we half first BOE averaged midpoint of per the of the guidance. annual or just the for day, So XXX,XXX XXXX,
including for seen or expect we’ve performance pads X-mile and of continue based DJ but of quarter year end the laterals X day development performance this to turned area. now we’ve was per guidance to BOE recently line our have exit we TILs oil combined XXXX the We around that an BOE XXX,XXX from strong primarily It’s XXX,XXX driven expectations target when per on significantly by strong Permian. with production our early, in our Our the to productivity recent Watkins outperformed the high day date. increased seen, be with
as we from under structure, cost G&A and production we foundation BOE, our side the in quarter of winter cash quarter-over-quarter we out when first at normal to LOE expense per look On got XX% the and returned down the quarter, levels. the were
unchanged. CapEx million first and are remained investments levels higher expenses were activity as Finally, capital year expectations second shareholders. flat. production, returns manage to quarter cash our the for $XXX the Capital we When full continue to with consistent relatively inside capital about and higher flow taken lower higher expectations in our quarter together, and our to get free
the $XX were we share total, and $XX.XX at under price about we’ve Finally, during of recently have $XXX million XXXX. now per in under stock authorization year-to-date through year-end million $XXX the average authorization quarter. repurchased $XXX million of repurchased active buyback share stock our and an million buyback In remaining
let today’s takeaways. reiterate me closing, key In
DJ legacy business our well. performing First, exceptionally is
to our Our teams challenges find strong continue deliver address and innovative safely and results. ways advance to business
created better and a Civitas. have our Second, recent more stronger, balanced acquisitions
We a across have invest high-return to Permian. portfolio assets of options DJ in capital the and
great Tap We’re those onboarding Hibernia many focused get the once of employees on and from and assets past we our TSAs. Rock integrating safely
Lastly, the know we sheet. importance of balance premier a
asset XXXX. a We’re advancing flow. return have cash expect sales noncore free When Xx to less leverage we outlook for sizable to than in combined, strong ratio optimal and of our
questions. now in Civitas. for your to take happy we’re interest you Operator, Thank
