this you on us thank everyone, morning, call. joining for Good Mac. Thanks, and
As robust generation. flow Mac strong execute earlier, capital continued to CRC financial successfully corporate cash business allocation disciplined strategy free on fundamentals, based our mentioned on and
of can you Slide have presentation key quarterly see several X highlights. our slides, As outlined we on earnings
Our EBITDAX strong of quarter or $X.XX adjusted income diluted to and million net adjusted during per million $XXX the share. performance $XXX an of contributed
the higher quarter-over-quarter production first primarily barrels million per lower Net generated essentially decline flat X oil was quarter-over-quarter, rig quality $XXX to of production strong prices. equivalent with Basin, adjustments and due our we by During operating in and capability. just quarter, associated free of capital while basis, oil testament day PSC flow, a low San oil barrels of XX,XXX per intensity cash true reported industry-leading safety oil generation assets, day. drilling Joaquin quarterly basis, of was a a on low rate, XX,XXX the On free oil the barrels the flow cash day our culture net X,XXX our our showcasing We of of to gross production employees. a
and unsecured quarter actions of XXXX, XXXX. In issued As further we capital during notes simplify significant took our improve Mac January structure. due X.XXX highlighted, first million to senior in the we $XXX
used senior borrowing lien our on in deal, our we Power of notes of term all revolving the borrowings proceeds and $X.X resulted operational remainder facility. Hills we all our performance, up financial second to full in base Elk previously. repay credit and supported of billion which repaid to this outstanding from the our loan, increase month completed earlier outstanding secured by redetermination, substantially our successfully With an base $X.XXX Further, this our and billion, borrowing strong
loosens strategic with to the condition facility Additionally, amendment additional amendment CRC we available that to hedging provides increases future return specifically, and credit capital to entered revolving our payment into flexibility levels. restricted the our the shareholder and initiatives shareholders. our first regarding capacity More
of CRC the debt with flow tranche and quarter with the generation of quarter for our $XXX free cash cash net during a million, of generated undrawn total capability, which With liquidity actions, our and exited $XXX on balance unsecured a leading these $XXX total coupled included million of RBL sheet. cash industry's single million
free company's much-needed efficiently and additionally assets' to produce to and performance for quarterly flow employees' generation, strategy ability safely, strong underscores focus our energy on capacity reliably our support cash Californians. our This the
$XXX $XX Brent flow As free deployment capital stated anticipate Day, low our generate rate. investment barrel our efficiency industry-leading of Strategy environment, and highlighting our the a million cash and plan between million to decline of during in per we XXXX $XXX
end Given shareholder high our CRC free a our a free towards foundation the X.X current we net high flow our returns. performance, to XXXX of estimated about implying strong range, coupled trend with of are positions with reaffirming the deliver our and teens, assuming expect This leverage current guidance yield yield, flow to in turn market capitalization. sustainable ratio while cash cash
capital important which and million step strong the of double returning $XXX steps indicates, at $XX in more first As our Mac and Further, after is just in the and to XXXX, program of X position this towards share our proved our is our cost of shareholders reserves $X.X value X XXXX mentioned, Slide improve our effective marking in of emergence. announce Brent we as as strong to and a months SEC taken result value. repurchase a year-end quarter over cash billion, current quarter than enterprise are now to first -- structures, the second a
This Continuing numbers, we organizational the and the the supports enterprise high assets discussed by XXXX our compared make in inventory pro-developed company's our certainly new our intrinsic and comparable the in provide in direction also to strategic as Xx. repurchase value peers' both valuation of high-return low sector earlier program. decline average large the our CRC of core progress and the reasoning concentration around functions. over realizing cash of several corporate value fields behind flow as share made year, guided Our XXXX on If of free trading on, further below on our of expand in operational stock EBITDA I changes goals deliverability. our of category confidence our multiple value we're
and the G&A As our first BOE, result, our $X.XX averaged is XXXX quarter below reductions. which per previous efforts ongoing $X.XX cost primarily quarter, cost-saving due to workforce a
at technical rapid with maintenance existing to opportunistically per incrementally incremental to quarter XX year, further to and while bring of of able CRC's quarter invested This to the analysis, like $XXX million backlog. is strength the work of point. million bring provide low through approximately and and trending increasing G&A respect PDP performance downhole is of to paybacks, our the well cost the of BOE, $XXX per bit this color end almost remainder $X.XX the well higher OpEx. demonstrating On production first new that and maintenance. these risk production workovers wells towards earnings opportunity previous of clarity existing run find per through For Through will Slide XXXX we our back additional return of previously shift company costs reenter rate, another CRC and first, for uptime the expect in reservoir can would $XXX of capital raising allow improve online short prioritized an OpEx more high-impact issued the for I a reach of $XX.XX CRC's identification no of Further, set with and to well than is our a maintenance maintenance high-impact the guidance a barrels wells, wellbores a commercial you remediation fraction operating in $X year. on back were assets. BOE well. highest-value work deck, or of well barrels the which million
to anticipate modestly For the increase. the remainder OpEx of we year,
capital to differentiator and achieve with is since our player simply, cash low-decline versus capital conventional dollars huge dollars However, shale counterparts. for be targets view favorably a flow We're will a we investment will compares free this a similarly, almost Said OpEx asset our ability and that CRC. reduced base our investment be strengthened. interchangeably,
assets, the million guidance share expect of what core year, return demonstrating and combination and XXXX is all CRC's disciplined initiating ability cost capital us trend remainder and improvement by that confidence to continue cash quality free end high For repurchase the flow structure program. the of resilience decline of to and our this continuous cash our of The our towards low of gives the allocation. of $XXX we the we will low-risk
our back Finally, have earnings we the I'll to XXXX of the now and results to attachments please turn discuss provided our outlook the quarterly our note Thanks. rest analysis guidance call detailed And XXXX. of financial over Mac the release. in that to for and operational
