for you The is everybody. and Jason, morning, about recent and in excited on our track joining we’re story progress. that interest thank Good today, us thanks of Thanks, the quarter your Midstates. for first and very
XX,XXX our expense budget with We generated were in BOE were in quarter, close you expect first Miss and adjusted per we a months. we And capital Anadarko budget, divestment was the on with per our coming day approximately remember, EBITDA on of our of items XX,XXX approximately of we assets. our the assets Lime couple For to from that $XX expectations. and capital million day and target production have BOE line a
and in be down some first came quarter. and from completions, November, to will expected quarter also guidance. that, took the so But downtime we I’m XX,XXX the was we Lime we’re all the our I day of I’ll first first announce when talk forecast workover today, encountered Because in of which within of on at from operations, quarter, production that quarter, Miss hiatus our our very production You from remember to as weather-related background that BOE more excited and we in about. fourth per our some
are initiatives laid value we out our number Importantly, flow free reducing activity, generating and improving near-term optionality. to and a of of strategy maximum market-focus costs, in realize liquidity completing targeting cash creation
bolster targeting operate Miss to continue prudently we in And a the that funds the a remember divestment million. further generating that from We you’ll sheet. Anadarko our properties one-rig order I of Lime We announced Basin $XX and December. will months. to for free already of mentioned, develop balance one-rig a flow. program in dropped These last next to expect we program as pristine assets, strategic producing flat sale cash our an two-rig production to close couple And
bit color. expenses I bit am a more you like competitive million to I further reduce margins. $X give $XX in our with a sale, will we at align during XX XXXX. $X levels adjusted be a Also by by from employees quarter, annualized million. very a G&A March, efforts balance to our RBL outstanding our the by side, reducing cash reduction performed $X expense interest January in cost enhance to pleased would in our items activity after today annually, current with expense of to our year-end more little the XXX approximately the force staffing dig our headcount those our million level, early Anadarko close and into On our few million down to and reducing down of we paid little
as making came We it look first also and as we as reducing costs, at as it – effective one cost the terms wanted take but possible. in of can was have shape structure the a get when in, to been I good do things we of in
in best paid by next finally, the as line in increased I attacked mentioned annual to RBL wins million again, have numbers, our down to staff within move reduce an very XX capturing organization. sale, meaningful that forward also. resulted $X forward our we’ve changes sale, January expense and staff Dip] Anadarko in side, results other quarter, that gained then meaningful jobs there further lean, $X reducing approximately interest first These expense. results. several changes post these that over made savings, very several million, it we’ll close us our months, and and Anadarko very reporting expenses to expect and in level to $XX interest rapidly with overall [Audio made have excellent. our the have several number. most Underneath on with critical and we next we to put So expect our a accountability of in procedures to And visibility And have leaves a million cuts the us with – expense our by employees our further on close the of talent $XX we million. getting on reduce the to talent is [Audio We to organizational effective count and these changes allowed yet we Dip] further
we’ve various That high-intensity December a see completing better out alternatives can to get we’ve a hiatus test Today, better we’ve as six we mentioned, of design. Again, work is completion the in progress completed we like [Audio get continued high-intensity side significant took done, So cost never side, feel expense last Miss the on Dip]. to completions program. the I but our result project is if to completion in the Pass in we completions. on year pilot made study result the store a Lime very the complete. of of structure,
mainly high-intensity evaluating for We’re completions is the declines. reduce results. The target to the
going need good some that, to to time evaluate results those with we’re the to at take continue extra see it’s of some cost to but intermittently that going program. high-intensity completions, So to
an We wells program approach lower the begun six a taken that now, focused we cost test of we’ve completion. where additional and in pilot more our have completing
wells so underway. are those And
of With we’ll two those of very Miss with the have our the Lime. in a to completion forward pilots, way go good optimum view completions the
and have, during The at already capital were looked well the and came production downtimes. Midstates, taken other can revised out highly things wells. we’ve and The you spend the really procedures events opportunity and increase to with we to wells. one at that most increase thing and – which expenses We’ve want downtime in recent when pump productivity. producing on and at you run that production the of from diligently of our first getting production Progress but emphasize quarter, to the production. looking the really I evaluated great opportunities successful, in attacked our of on is reviewed its has all we we’ve been The how sub-surface that our the the base economic base worked we’ve we resolve. We’ve already effort of increase more increase our times
compared our has had first this effect. our from day BOE see quarter day very of XX,XXX per in May rate average a significant XX,XXX current program can you think per I to production BOE of So that
account workover rigs. rig our have from two We to XX increased
worked wells. wells attacking the We down are year-to-date. actively XX We over
We replacing are pumps. doing more than just
restimulating are also results work. excellent doing wells We our finding from that and
be previously down finding in generally back in or sustainable a went production on when increases from We’re to bring range. a initially. XX% that it finding can production we’re increase we well those XX% and XX% restimulation the get from And
excited year in good forecast. in very what the terms about for this seeing we’re the there. of And of So our result increase, production shape we’re we’re very with production
that, the forward to over with over to it turn to answering So back questions. look to like details. your of And I’d some go Jason I’ll
