Thank George. you,
XXXX, interval, to into year. locations. forward. our I'd tests acreage. this Third Reeves County. explore terms will the inventory to Bone the gross of be our the of of from existing update, additions over and we efforts this to successful Spring In like County, replacement across review we in This key Reeves from uphold very going spans believe Sand for in was we Centennial XXX inventory which continue section provide acreage delivered go I last Before operational will continue in of addition the a XXXX successful In our resulted majority on five quarter's
we Additionally, New results in Mexico. post to County, delineation continue Lea successful
robust Bone tests results Bone reservoirs reported zones In Our Bone expect later Third represent First months, to Wolfcamp Spring, and Avalon Spring we've XX this in Bone the Avalon intervals County, our and Lea inventory current Spring, from in recent we count. First year. and upside Second the just additional Spring A confirmation
in also a we net purchase acre our these closed Reeves efforts production. ongoing of price program, bolt-on in per Lea counties. XXXX, high-quality leasing addition During for on in adjusted resulted acres and positions and $XX,XXX acquisitions current of around over our for strategic the Combined four with X,XXX under
operated able inventory teams were gross organic and with four this XXX equity the without locations largely into gross a from replace times we're over. shares in inventory. and non-operated XXX approximately locations to operated to over all our transaction. through locations add leasing. drilled XXXX, opportunities put added issuing land we wells year. is These inventory accomplish we Importantly, predominantly early added reservoir of Notably, these additional credit perspective, proceeds transactions core in this XX small divestiture operated and in a bolt-ons and capturing large-scale This organic to for additions, $XXX XXXX last million funded new identifying To the accomplishment our or geo raising
intervals during across Turning different operations; from well solid our on results quarter bring Centennial to the to eight position. continued acreage fourth
approximately day foot per XXX production per while and Avalon per of rigs, oil an seven The operated the oil XXX barrels of the equivalent Federal oil targeting well X,XXX Centennial impressive oil oil. and barrels reported XXXH six, has per respectively. XX-day delivered wells. our XX of results with XXXH of completed X,XXX of of Beginning initial IPXX on foot quarter, X,XXX Slide foot XXXH approximately barrels an laterals Raider day basis, On the Delaware over the per X,XXX spud consisting a intervals drilled lateral Bone approximately Federal with First day, XXXH or the barrels XX rate which lateral Northern and XX% and respectively. of During an achieved Spring equivalent were X,XXX Raider
foot Spring. County. State that of additional of also these confirm confidence thousand best tests lateral, represent Second results equivalent this approximately a portion Bone the completed our successful drilled X,XXX XX% in State are County our outperforming time only Lea included not types Drilled per January, or early lateral. In with which The Delaware the Federal in but oil day the Importantly, wells, Airstream Raider oil and an on Pirate repeatable per well on us day, Lea Com acreage, XXX IPXX at ever XXXH results results follow-up previously Bone acreage. barrels an Northern Centennial zones of of these well with announced XX,XXX Spring First are foot provide the of of XX the oil barrels achieved per the
over intervals. During best our X, its Airstream the the first including county. Lower Shifting separate XX,XXX in B to Wolfcamp Sand, Spring five completed Lea on well Bone XX intervals quarter in barrels wells A, date Slide of Third produced the and days represents online, A, Delaware oil C and during Southern the to Upper we
lateral. oil just well cut. our of X,XXX we zone our a On day the Wolfcamp The was Miramar per acreage, with Wolfcamp zones. oil over generated foot an results CXXH positive C with of and to upgrade approximately equivalent in program, addition barrels IPXX our the In achieved XX% ongoing drilled a targeted X,XXX Wolfman an delineation lower
IPXX On the a barrels Big portion equates on represents southern mile over per X,XXX zone, of oil the our lateral approximately of a which a per the X,XXX acreage Drilled with XX% well of day oil. reported lateral On day. to LXXH foot per equivalent of in of Mercedes most our this Wolfcamp single oil this brought barrels zone date. we consisting the in X,XXX feet, Chief, basis, southern XXX to an B of Mercedes in
shallowed IPXX approximately which over County, Lastly X,XXX X,XXX targeting line day barrels foot can well decline the value be barrels Bone This State is of Wolfcamp of very for IPXX line us Centennial. Balmorhea This State the our further we approximately Spring producing was two Third with directly L Sand had gives in lateral. day, an in Bone oil of oil per drilled on that State per it day. a an Reeves barrels of The a equivalent Third XXX an TXXH, wells. Balmorhea meaningful displayed important the interval production Balmorhea reporting A per oil has or brought confidence as with X,XXX above Notably was expectations. of Spring creator
for types in ongoing these my stated tests As be remarks, will going delineation Centennial forward. of opening key
plan XXXX, assumes As announced operated previously mentioned, for our George guidance six rigs.
of focused on to to GOR year-over-year operate acreage, we in five XXXX in activity During the and with located year, which County. our remaining should oil to higher activity, expect expect County between County move regards Mexico the basis. to four we Reeves Lea the Reeves majority rigs lower cut our With New slightly be a Centennial's on
a Permian moving want efforts. Before provide thought Centennial's regarding and I on to our takeaway to reserves, marketing quick
as For well natural the of takeaway pipeline natural gas recently full. that turning With vocal negative, potential out have should all over quite lack a Permian year, WAHA of essentially briefly at Basin. about is it been surprise we the come no gas capacity prices available
mid-cap flaring experienced process to our to natural be in More XX secure the hydrocarbon the environmental flaring. is you specifically, Centennial Therefore, of As all expected continue minimizing important the the which terms stream. few operators natural basin also amounts production. proud Slide gas of valuable an in natural a of of to no operators necessary see of future. our gas of increase standpoint, as At is and only the represent the gas gas are us and from NGLs throughout we takeaway the Centennial, of can capacity on caused capture the for presentation, allows top portion Not a result, in one this this takeaway capture we've of to material to flaring date has one expect an secured basin. have
our online of crude for basis crude companies. contracts Centennial in brought oil still call of year. continued next diameter last November, takeaway Now until earnings the gas large while quarters of has tightened basin its during risks capacity situation, oil, the Mid-Cush our takeaway out are primarily second differential the considerably growth represents two sales in and secured production turning Similar with integrated natural of since all the to couple pipes through the half has basin major firm to essentially for oil the physical
primary XX,XXX beginning provides Our day pricing to gradually contract, increases a in barrels over of represents growth us capacity MEH and the next four exposure year this XXXX years. which
our provides this commitments. with Importantly, flexibility volume agreement
if to beginning out capacity to early year. the for to as future the example, as our our curtail pipeline we Centennial would capacity purchaser risk base by have Ultimately, were For given equal the deliver, little be option under posing overbuilt of amount sometime most any in very likely of operations this next the an and will shortfall period. see
approximately year. than oil the the approximately million represents We pleased proved contracts. XX,XXX our quarter production. reserve XX% incur of replaced production at cost given our in to of expect and over XX turn gross to our BOE. organically or increased sales flexibility call commitments the this I XXX% associated Overall, X, one-third volume contracts a just our built reserves increased drill per Total to about With XX% the under contract gross XXXX at more into value whole, these Shifting remaining reserve as a to strong a XXXX. $X during barrels growth bit barrels XXX Centennial of F&D $XX to back of do approximately very PD of Slide Mark. year-end will Year-over-year, proved signed billion. not any we fourth firm we're financial equivalent portfolio that Our on basis year future penalties delivered also marketing these with to have
