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pleased we quarter fourth and at were as the So exited that continued XXXX, year. through the into that began third momentum the we the new quarter end of the
rigs reported quarter. the loss, of back quarter the the though Thinking after an we've the year. in putting As historic we've add continued and activity to even pieces together second last busy you'll EBITDA fourth contracted we quarters been see, during about specifically, during industry the third downturn
last decrease our $XXX,XXX, results activity, result our cost cost. and a more our sequential During year itself as support which results bolstered per impacted implemented a better in cost and by costs operating by the control of absorption manifested and our efforts in quarter, fixed financial approximately cost rationalization of were day reactivation rig
shortly, In and million any and discretion to of loan liquidity our during our at operating our into want today to financial improving accordion million million liquidity. under discuss at overall will $XX.X credit of rig continue of add we point line addition term end and cash that $X.X hand, the $XX I'll availability million consisting to execution have entered that out which transactions. stock transactions of at stood totally equity agreement significantly improve quarter us executed our count we allow equity under $X We of $XX.X yet this sell credit. to of not under as I our the million million line $X a at on revolver, undrawn Overall, new program the under quarter, liquidity. are available
back improvements in the expect quarter sequential boring work, as As as becomes improve continue go since mentioned of our on back revolver again us. and rigs as now prior availability come rigs capital transpire our boring the end XX% to conference source a third base revolver to to And under our increases. increased conditions calls, seeing and rig that and the base market you're our we for to count grows, of see work,
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exceeding reactivated our time, of expectations. downtime. rigs safely our All reactivated on and operations minimal have And with been budget on very customers' are our
second EnergyPoint we're proud a row. were we award the professionalism awarded In for during very service Research's fourth quarter, the fact, year and for that in
have records we for the our addition, fourth including broken quarter. during several four customers In
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operating As have basins momentum, we in a rigs this contracting within primary our consequence positive target three now of market.
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ICD for we XX point think at spot and this rates, contracted. reached between I rigs XX current
and to inventory operating this industry on generating in eventual Continuing of fewer needs I market into can Most of $X.X talent Like capital at can board generate additions, close the for higher capacity budget moving and third order And investors earlier, compared our I'd investment spent doing regarding does XXXX dayrates our make and governance focused for we comments required XXX principally levels. at returns the pump to and to move reduction current better is approved our theme not million a point, couple focused XX,XXX rigs expenditure racking with engine to back the year. attract to Beyond today efforts. with sustainable retain series additions with margin a services. reach this sense to rigs. to Instead, stacked better returns to foot flow, of rigs on significant industry's ICD's has $XX.X do toward dayrates. fourth the matters, free indicated a At cash field more of and allocated running this at maintenance the once last oil up, the we're dayrates. ESG. remainder part profits ICD, we racking the XX,XXX million, like job
them location, for in our impressively how natural More rigs for technology operating our the for are electricity cost ICD equipment. commenced month, rig in power diesel is ENESG feedstock rigs and XXX% running pad we and their which in capable, another rigs employing gas our reducing this dual many the received utility our results rig, of Regarding typically this of and from combination customers, as using pollution run to manner its earlier is carbon this running a at using generators of with only drilling all by on the but the generators. site eliminates compared also power. savings fuel four not today (X:XX:XX), grid electrical Outfitting to the are which
for we're that excited undertake looking always and the are same prospects to for these our other addressing about challenges. industry willing this to continue customers We are strategy
I which and compensation executive for GNESG team's (X:XX:XX) aligned the out measures, very compensation And our think across and board XXX% a this as incentive interest. comp the tying quantifiable risk. and governance only in XXX% market broader the of ICD performance-based ourselves most closely recently because peer forward-leaning assets, I leavers year of shareholders' including are comp tying a world, index drive to returns assets but ICD's Regarding set substantial interest, our a this structuring our long-term XXX% front economical XXXX. group, we've returns shareholders. been metrics, industries. on is metrics in shareholder a with available only portion historically, is executive at to to all pulling based investing including and to aligned We're the all rationalizing with not TSR point align with
to To front, all On the in is we up, back holidays we to a and corporate very believe execute the our we're we here summing this roughneck of headquarters for I returns very our including is positioned recover downturn drive Houston, through get operate Santos stakeholders. completed all on initiatives, to ICD the successful where social from efforts campaign as to communities over campaign unprecedented charitable where based. operationally a pathway this other well our and
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