our on Martyn. stakeholders this in joining us My today. you, as strategic remarks as will Since second the truly our performance Thank my I well appreciate on our direction call on update quarter. an provide priority made XX, operational all potential Amplify job review the with of along have a growth externally. it executive of on both the first team to opportunities day the I and the internally May for rest
few which the these of completed made recommendations and I Since completed have additional start arrived are was drilling drilling we taking board Texas. an in the day, four program. reviewed suspended Joaquin million three intend of Cotton specific our below we the XXXX While appropriate. that months formation East well strides wells time that produced the board stakeholders were expectations. of thoroughly been make We in Field were year, XXXX that the – process months, our strategic One shortly update to decision to after on the we last in this our overall recommendations the embedded. over strategy great any to to made ensure the have corporate will upcoming on our plans and as important we the cubic Valley gas Amplify has drilled drilled equivalent and feet an X.X from in the in wells average completed in IPXX The program was per and
program to time would price the be drilling the prudent to these us the allow re-evaluate gas those opportunities. to natural suspend and that environment, in Given determined we results decline recent it
the projects most shareholders. capital our investing in in of we for East manner with the we the our utilize high-growth considering such, stronger in brought In oil-rich accretive In quarter. non-operated from of with benefited development X.X to in And production regards to online in to intend averaging were We intend Initial gross Eagle the Rockies possible our opportunities decision oil have XX% IPXX with development rates above prices, Texas day have from addition, equivalent with our net barrels properties other Ford, oil oil X,XXX context in rates wells per the oil of our our price XX significantly wells were expectations strengthening second the in the environment. that California these liquids. revisit as properties.
in commodity We and at expect in prices. have of than excess less to rates wells XX current these XXX% payout months return of
of properties million, post-closing sale the estimated of were with able consideration During close we second Texas included cash to approximately quarter, also adjustments. our $XX.X the South
per company’s from million and the known the quarter were perform the used as As future the previously under high-end a and materially has sale gas The continued been equivalent the reduce year to adjusted outstanding abandonment as divestiture reminder, guidance. second cubic the reduce included credit net production from was were $XX cubic equivalent range our revolving of facility. properties for in a expenses reduction quarter day, result of XXXX $XX.X XX per EBITDA, $XX.X liabilities X% with the reduction Mcfe. million company quarter proceeds full was a which feet of approximately Lease South very the the million averaged second the the X% line which the day, of South operating feet of primarily was or Texas was generated due to This in reflects second quarter guidance company’s second borrowings This and Texas impact million. to quarter. of of million well the we assets decrease expectations. unit approximately per gas $X.XX in to per of sale guidance $XX our quarter This from from of Production previously previous mentioned in properties. XXX issued million previous
of likely our will LOE call. due the tends the to East that the Mcfe reduced suspension from royalty of expect the and drilling that the year relief up discuss the production later remainder per during We on to California will the Martyn program volumes on Texas
to Ford program for compared quarter reduced per the quarter Capital and and facility and remainder of at $X.XX East of in for reduction $XX Eagle line million additional the Capital to future additional to in of million second XXXX We generated guidance. to Texas expect The due the our will this $XX of in previously subject cash remainder be fund across the provide associated completion the portfolio. spending in in is on approximately the to time, the million to to drilling flow with rest change. it’s be other spending with upgrades but a to liquidity Mcfe. opportunities. $X.XX year forecasted the capital free capital the full XXXX $XX and activity approximately LOE was The bulk range completion the spend first focused mentioned with the was of drilling
we that decisions with sheet to forecasted learned with and of what the debt for growth. and today, the opportunity metrics like for of in have to In future in our is my few an are of year growth commitment to As the that X.X strong months for the $XX million of excited best I’ve our dedication and our I’m shareholders. of interest particularly assess sit of and thought seen by sheet XXXX our here we million. closing, the liquidity balance to employees asset, flow opportunities, performance cash strength Amplify. and makes optionality And $XXX full strategic balance I we thank first The as along create outstanding our gives of with company. I external would base times, annualized internal us our EBITDA portfolio platform
of to overall we strategic and value will the walk manages on to you that, enhances will in manner base the continue in to Going-forward, discipline Martyn a deploy capital back exercise through I now With the financials detail. it asset and our decisions prudently hand that company.
