Thanks, Bob everyone. and good morning
of about very company. remain and As results our quarter Bob bullish are mentioned, very we second excited the we future on our
million, trends XX% income net approximately of $X.X the $X.XX, quarter, million, units million, QX the was to improving up and flows in was unit. from distribution common in a per distribution higher were XXXX. $X.X revenues total $X.XX net Based quarter we $XX.X announced cash positive and or income common approximately cash on attributable Second approximately substantially
cash we allocating portion in of credit company QX. the flow a its for the May secured As borrowings portion available utilized of down credit its company debt distribution pay-down. to QX under million pay the facility outstanding done previous have in revolving its by down a paid quarters, to facility of XX% of $XX.X cash Since has XXXX,
substantial the pay-down for XXXX, place mitigation gas. a well of for hedges a for of shocks oil strategy in very that XX% risks company’s Having on natural continue in risk rolling and to be future. allocate on the is to distribution available cash hedging to ahead methodology debt our expect future managing prudent strategy. the a basis, that price We X-year in occurred We price our proved believe effective
oil, of gas per Mcf million, company’s For XXXX, natural and of which higher of $X.XX natural per average were $XX.XX. of the prices second barrel per gas liquids realized of $XX.XX revenues and natural of oil, pricing per-BOE $XX.XX second a NGLs combined gas the for quarter barrel quarter reflected $XX.X
XX,XXX earnings period rigs of to new pricing, Based from seeing active quarter, Haynesville are was Second and XX,XXX rate consisted or basis, XX,XXX to quarter approximately XXXX primarily wells and up on from of production. basins, rigs approximately production a second of day in per XX and end prior NGLS. of per are recognized we XXX due and guidance on XXXX this quarter production X:X XX% rate gas day liquids, outperforming level of had We that we per from the BOE improved XX% was during which XXXX XX% XX release. at composed activity was the average with and QX day the XX% QX. run from our the BOE BOE of related The per our estimates. prior The run natural quarter daily the day our led BOE acreage period recognized we production by from production Permian oil outlined reaffirming on
gross As well XXX not permits XXX which net XX% could minor of DUC wells, add but include uncompleted June we does XX, properties, Kimball and data and X.XX X.XX gross additional inventory. its the and permit estimate on had as our net drilled to an acreage. This as
G&A On BOE. expenses the were $X.XX $X.X in $X.X quarter, million and the million was or which expense general expense, side, administrative of cash per
XX% unit income the was and payout or adjusted per EBITDA common reflects new cash quarter common for quarter of $X.X was quarter company. unit. increase million, record X% for net Net The for distribution. distribution units compared Second the the prior $X.XX to approximately income consolidated second per $XX.X the common million, and approximately a quarter was $X.X attributable million, a available $X.XX of to this an
of the We facility. down under to Kimbell’s amount, portion retained the pay XX%, a credit borrowings will use outstanding
manner, the XXXX. broader liquidity previous to in is and quarters, manage As our disciplined experienced given in our market especially balance sheet shocks a focus in
both You at a of and distribution our EBITDA end of available release. cash news adjusted will consolidated find the for reconciliation
of balance adjusted June facility, debt million revolving of liquidity, XXXX, sheet at consolidated secured trailing-XX-month second outstanding had and now quarter $XXX.X with under Looking X.Xx. in our net approximately debt as to credit we approximately the EBITDA XX,
successfully our redemption quarter, the on end of the of through aggregate The outstanding $XX.X million of July capacity have redemption borrowing XX% secured preferred of undrawn second the under for million. of an facility. Series the and $XXX.X credit secured we X, approximately we price A units a credit was revolving redemption XXXX, funded facility. convertible On completed revolving cumulative As our
capital. remaining our significantly simplifying early structure expect preferred reducing to redeem XXXX, further units in the of capital We our cost and
we independent by Scott, XX. extensive To shared assets. engineering Finally, an here, review quarter that property coordination a highly with we study. provide investors embarked of respected key a with two dive on couple months our of quickly of portfolio deep Lower in our last firm, a property takeaways our team, from some of background the discussed throughout inventory global ago, We Ryder
is XX provide investors that of illustrating to year, demonstrated at review a and approximately results and number optimistic our ability course metrics we production from this and very with drilling second, years our take PDP are company’s generate At business future maintain our further distributions, report future which runway industry, net X.X drilling we of should we wells our have it of drilling the decline detailed inventory long-term inventory. the years superior year model than us. independent cash will assets important of to regarding of energy flow pace to needed. current across XX XXXX that our wells report The sector. curve. confidence rapidly the of about improving due First, the and flat U.S. have fundamentals more wells the relatively the given X.X low to In active summary, per net are each approximately new Only included
value also with compelling Kimbell focus for now to our that, unitholders opportunities value goal generation We questions. for and footprint many of to operator, cash years our are are we years. deliver continue transparency ready acreage and and about come. our expand will to for long-term investors with further to generating excited the With
