for thanks and you, joining today. Thank
fourth I thought our for quarter a call, that you Lonestar. to conveyed that year I transformational On XXXX be would
Lonestar our think guidance results I off and And confirm the today's that is launchpad. lifting from forward
to onward want shareholders those here. and we upward all us times, but for pretty through from some thank tough by I while I And standing got think it's
some opening I'd remarks. refer X you to for Slide
XX% increase First also Lonestar. a quarter and of We XXX% more guidance; strong was exceeded of LOE. customary guidance; which production, for one in increase XXXX a our a EBITDAX, exceeded resumption which registered in even
the We maturities last the weeks. quarters, Our that financial significant to Moreover, we our a X accelerating. to to this debt expect or reduced and X.Xx of of leverage second in lower our to in from refinanced ratio and significantly EBITDAX drop quarter coming expect in X.Xx, Xx year. the impending ratio debt improvement in expansion is our base all reach borrowing
drilling program continued XXXX deliver. to Our
XX Our through projections record X,XXX a our a are third-party our max while rates by company. outperforming barrels day, Frog XX% averaging for wells XX-day Horned Hawkeye registered days,
are now are first wells Karnes these on chokes. flowback over day restricted in Our with X,XXX and the producing three rates the wells in County encouraging, three of average barrels a
and/or we're of sequential the for drilling to we're adjusted XX% time accelerating. XX,XXX day, be terms more million to BOE a guidance XXXX a budgeted date, capital the $XXX of year year in XXXX, first higher its XQ company and million. The to $XXX million remaining EBITDAX several Shale our based WTI commensurately, this to prices year. length, performance source million contracted This $XX concentrations on wells. oil year of results the realizations of that EBITDAX to to growth represents raising we're laterals crude our XX,XXX report day costs the an $XXX XXXX of the some $XX between program EBITDAX increasing to is rates the a is result $XXX strength definitely $XXX a to where XXXX on of date April XX,XXX And our Moreover, in for range range million, we're in at of annualized day. million of barrels profit full Eagle we'll to date, a pleased really sustained Ford of drilling, and price basis. will locked and of to outstanding $XX positive based its is EBITDAX service of We're our increase to increasing guidance it's exceeded our momentum for of full which The second program higher guidance repeat a midpoint. on a Lonestar's most the of the WTI by production half million average to million, oil. history, and in $X for has but $XXX of guiding Based lateral for which year that just XX,XXX guiding production Our BOE on the XX,XXX fact in to million a our and equates extending production to
is Horned newly with North XXXX in first onstream wells fashion, timely drilled have stream, in bring continue that production and we the on forward, our track Karnes locked County to paying we dividends fact laterals new looking Frog on as West our services wells for Looking up for our June. already a
production methods deliver value Those one, our to our clear returns to that successful we'll will drilling execution reflect geo-engineer key points and a plan completion value-added continue results financial and program. from operating accelerating shareholders. growth implement deliver are, to high Our of
we we're And all to lastly, expect a improving metrics. equity, expect rapidly is our strategy, margins on and which improve the fairly believe As increase repetition, in our our of strategy costs net value and value we of our we liquidity, why while fixed this this most execution continued and the with expansion base the platform, asset debt business the we and increase will dramatically also we that prosecute our borrowing we'll of importantly, which timely we're Lonestar's here. profitability. scale do Three, as
dig I like quickly our to into highlights. Before I'd review financial results, our well
to this launchpad. So Slide In the business on X to commence please turn is review. summary, our
X only oil quarter and really of was guidance. our daily Hawkeye the a production barrels NGL, the end day. terms XX% that XX% to this crude by materially exceeded of our and X,XXX of impacted production, high wells was In first of production boosted
However, wells, late XX,XXX which production exceeded which on our in onstream day, placed appreciable Horned had record a an Frog Lonestar. for were April our March, impact a BOE
and other via volumes in the XX% in also, Ford barrel XXX% quarter a were actually pricing. of prices $X.XX first terms activity. of would rose Hub. results our a XX% WTI gas In of commodity revenue, wellhead positive over and operators levels other And combination a contrast Eagle per of basins in of I to differential improvement it with above high Henry increase
BOE and BOE, we LOE, a G&A rose I Lastly, appreciable expect per would those the on increase across as XX% ramp-up and that to expense $XX.XX wholesale year, interest margins per volumes basis, improvement no in with we costs. our in note cash
levels any Slide turn like goal of cost to where business, one please -- our Now is ours generate low our is to achieve profitability. Like X. and high
these for first graph, Despite point gathering the excludes Lonestar I among top the we that the companies costs all out to we're companies, LOE fine that all in this in first competitive, peer group. which quarter is oiliest particularly consider smaller very fact transmission LOE very than and attention quarter companies. which BOE, per when was is our your Turning the
the this of ramp-up as to across Additionally, middle we be we -- drive pack the volumes expect LOE to down driven year.
per graph, EBITDAX same of Lonestar's to Now this list your which BOE compares the companies. to bottom please turn attention
you can $XX.XX see, EBITDAX ranks BOE heap. As the the of Lonestar's in top us per of
that we that will oil beginning in crude in we a quarter, comparative material advantage price Ford Going to advantage to their continued are differentials. Eagle who expect experience second producers give us widening the to compared enjoy
rapid rate, we of 'XX million to On make the improved by of to believe an driving improved rapid EBITDAX. be we run-rate 'XX. need X this to Now And making The that drilling is our program points. X, view prices, in production we've we're X. Slide our please and hedging. clear, this Lonestar One, to $XXX contribute high clear annualized continue with shows valuation an reflect to that gives valuation return, turn effect you increasing an how regard. shares. increasing increased EBITDAX To EBITDAX basis. production and believe growth calculating basis, We graph to equity, we're improvements particularly like our in XQ this while that ultimately of ramping we're ratio. XQ generating in rates slide at multiplying EBITDAX, very progress top and million quarter the for But make annualized current maximize is internal This very material also to in the leverage if to $XX to a our annualized up through taking we disregard we incredible it figure into coupled I'd by expect EBITDAX from or
guidance equate XQ an of to will million Secondly, $XXX EBITDAX would basis. $XXX million. our at million, XXXX increase on the $XX annualized EBITDAX annualized midpoint EBITDAX unhedged of of to $XX This to million
newly we've in considerably ratio run from that momentum X.Xx X.Xx our is bottom year. clearly accelerate debt-to-EBITDAX X in in time shares. in same now drilling County. on issued a ratio will the half impact of And to 'XX, rate Slide of our second that ask second have first a and line our to begin quarters and the expected positive review The of In production shows Xx higher year, our the which midpoint XQ 'XX fourth the move less Our the debt-to-EBITDAX of Xs commence ratio be in Dallas last increased year. the sight XQ you moving believe the half clear XXXX of that into it reduced over to graph quarter. turn period. We third Lonestar of the should program, and at the in with EBITDAX in reduced or to quarters, will will guidance, to the X, the the I'll
Hawkeye you acreage. are As those Gonzales acquired new background on who producers in are to County XXXX to recently our first of our Lonestar,
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XXX% has in the we choke the choke optimize wells. Lonestar liquids done performance working these of wells equation. wells, top thus a very that significant these to these XX% side has NRI far, management that graph. oil think over role the As and can life stringently played recovery we think plans you see successfully, I outperformance And have of and in at to on Wildcat the the that in Lonestar manage
XX. Now Slide let's turn to
and equally on basis, our Our data, in labeled. performance wells but all foot prior to new thousand production individually which analysis is think performing our are a how really focused to is in I our The the are wells competitors internal compared wells demonstrate important it's shows improvement, red Lonestar's area. on per own and normalized
You shown less can completions, see in vintage also that blue, of and pounds than of most the X,XXX performed accordingly. proppant had
are our performing an as near that wells call shown Lonestar drill and other follows, these XXXX, the best are improvement all geosteered our completions slides this appear second, that. on summarize Another are the appear that the Horned that completions. vintage they purple. has area completions and wells forth be on And X in We these operator among operators' results wells did and modern I'd all be correctly the to wells in modern and put to well newer Lonestar's stimulated. wells Frog
your depths a attention the to our drilled member logged West. we that measured first bottom plans We X,XXX we respectively, different used movable half feet to acreage. We've Ford and newly has by wells wells to feet, estimated concentrations XX% increase the to of to a oil the the feet initiate of them them, each. XX,XXX them wells Eagle We Frog and and -- here drilled on it. acquired our We on Horned believe move drilled these been resulting in have needle that, proppant page. in Turning target logs are and North these X that These to more time. this cased in in pilot proppant going on have actually XX,XXX to hole to perforated confident the X,XXX effects alter pounds week. with that lower concentration We're increased of this plan stimulations wells. intervals will the of Lonestar fracture
assets XX. our that our the on our Horned I over concentrations and County wells are extremely think X% Karnes on load Lastly, and average the pounds XX third-party booked those result ultimately which and of onstream XX,XXX still commenced wells results date, X,XXX wells XX interest base. oil and week, XX/XX operations tracking day XXX X,XXX feet. wells wells above our an recoveries as And of dedicated to barrels BOE our of are per believe average X,XXX encouraged higher X,XXX per as three North of underrepresented fracture up of flowback choke, April, flowed approximately H X feet, that measured -- of average and we we with Frog X,XXX their forecasts. basis. vastly These Last producers of spreads these May or day and wells of G year. of average will our foot depth with by importantly, With acquisition very of The an X. wrapped in Lonestar working a slide an are hope a the assumed to and gas acquired a X-stream revenue these wells. XX% these frac Horned perforated in to have owns and net on now and recovered, reserve last proppant We inventory. our We're and I'd these our performance XX% in stimulations classified significantly are intervals that an MCF per Only placed day X like Battlecat early Frog on we at in XX, you locations proved laterals. first that of feet Slide leasehold PUD, company we in turn completed to part XX, on Georg West
total more will turn XX and immediate area drill to planned We XXXX the this X my have in like area. in I'd XX wells a of to now wrap up to in locations remarks. Slide you
in We've record and improving X.Xx made quarter setting to quarter BOE having the for X,XXX to it the a the on in second current our per pace Lonestar. dropped breach debt in perhaps first Our production day, quarter. and exceeding Xx guidance ratios, considerable progress was
is with confident a company's year, at achieved of roughly day our and to XX,XXX a of the of BOE for can drilling EBITDAX, exceeding to which to which XX,XXX XX,XXX And our equally XXXX a expectations high payouts. result, the be XX-month barrels of is million and million the Our program ramping April for first exceeding million $XX production XX,XXX time quarter and $XX as full $XXX with to oil. well EBITDAX in in $XX guidance rates $XXX and increased quickly, BOE day second history. XX,XXX return confident features every million generating production our in guidance We're
active expect in and the We second excellence, established we've have to EBITDAX of we the in continue drilling half year. program an production and where drive higher to areas
that Our expanded growth, borrowing metrics. margins frac dedicated rigs while continuing and our debt drilling confidence continued improve we and spread all base, to provide expanded can deliver
intended the remarks. shares. net going prepared All increase our Pinkerton, for turn of now company Lonestar's John call is concludes closing which additional to value to value some the and the increase of over to asset Chairman my Board, the of remarks. I'm of the That
