Thank you very much, and thanks for joining us this morning.
entire team the John our are Pinkerton. me Lonestar and Management Chairman With
I've you on to note I got Before started, direct the deck. statements, harbor, with regarding safe to and X disclaimer Slide slide forward-looking cautionary the
for for Now fun. first Lonestar. you I On conveyed be would the thought please I Slide XXXX call a our to that turn X quarter transformational year
and is today's results our lifted launchpad. think confirms Lonestar forward I that from guidance
for the day. Let’s review our key messages
featured which a at increase First, NGLs and also with Lonestar the result reported at and production equivalent exceeds BOE an another oil on company's net XX,XXX up volumes XX,XXX and gas XX% of XX,XXX day XX% crude and high Production record basis. in was end barrels oil the guidance day, XX% equivalent to sequentially. which a
a sequentially XX% logged EBITDAX also and again XXX% increase adjusted guidance. in and We exceeded
production improving dropping Lastly, reserves grow we but and quarter. times with debt-to-EBITDAX EBITDAX to metrics keep not continue to the second debt and also in X.X only our
XX% a based million XXXX EBITDAX the two $XXX the Lonestar of to from drilling the to increasing XX million day of a increase oil continued over new of outperformance increase oiliest price XXXX on achieving to of XXX higher portfolio. the results. a onstream million addition to for elected we’ve quarter XX% over on of fact mix wells quarter, of on XXXX. full over sequential and which Lonestar quarter previously IRRs a results XQ day forecasted for its a The The as well XXXX guidance our day WTI call range midpoint outperformance gross to of To third in an Consequently, across second gross XX,XXX account $XX to At our $XXX XX% increases versus the begins to for program XXXX a XX The and bringing the this planned. generated to high XX% has metrics million to on range reported our XX,XXX are response the onstream important million Benefiting of of debt visibility program. in our at and year million of guidance XXXX XXXX and being XXXX guidance the guidance XXXX board XXXX. to million nine our will from wells the X% increase the type meeting, the of for program for program which that midpoint from issued budget and we're equates is XXXX wells again the portion XX,XXX expectations, on of sequentially the production all and XXXX. very continued XQ wells in the ahead also to results a in exceed capital bring of of placed Our the range third Commensurately, XXX later XXXX continued guidance our than XXX board start-ups, targeted our million barrels production Lonestar outperformance the XXX and oil Lonestar from a barrels increased of of to will XX,XXX that to we our third-party to recent continued barrels XXXX the XXX. and range extend $XX It’s also Lonestar curve XQ review production EBITDAX fourth to outperforming XX% a all today. represents its good and which is a continues part third company for issued XXX remainder the to quarter considered drilling a XX% that production note $XX represents also results. meeting increased contribute outperformance a completion schedule that
continues financial realizations, build high to completion efforts our can giving into keeps and transition executed into XXXX will augment with expanded technical program Ford Our our our high momentum Not provide XXXX but focused under our a it program. execution an fracture outstanding program. extending price and stimulation us confidence on team delivering basis operational and we contract program be deeper our are a at margins currently to equipment highly XXXX returns seamless that the the need Eagle to Shale shareholders and only XXXX drilling an
The issue but as we first provide by the $XXX to range sees outlook me if As increasing EBITDAX to which $XXX based reserve to and should program been debt and continuous that spending of barrels XX,XXX by to our not let increasing provided capital million right of operations XX,XXX this to far the million oil XXXX adjusted metrics. to our a Board a approved outlook $XXX of gives day, us sees and a continue of drilling to million. our XXXX providing for confidence a we it visibility outlook on a range say $XXX million, maintained is equivalent baseline in returns is we’re progress achieve the is expand targeted are yet concerned, to
essentially executed be can and by can funded with cash a program be single generated rig internally this flow. Importantly,
into financial well review dig our results, like highlights. quickly I I’d to the Before
this So to please X Slide to review. commence turn
in outperformance XXs the the the Karnes oily The Frog these our move materially reason day oil into Georg and number predominant daily X,XXX X.X the our the late XX% barrels of Frog and as quarter quarter. wells quarter program tied we over in County. was a the their County, impacted the below gross produced Horned third that quarter of more terms wells in by In net very back Northwest of five at second the Horned the dropping wells and mix wells. was Horned cross portion in Salle Collectively, Frog in crude drilling production, in for La will into we
terms in was our improvement XX% and of In pricing. a XXX% it XX% revenue, wellhead via commodity increase of volumes combination in
to continues be in the business. pricing Our best the
Our price over Henry price oil differential above Hub. and XQ $X.XX WTI realization our $X.XX was gas was
our cash total that to basis no volumes wholesale expect will in BOE G&A margins reduce rose a XX% ramp expenses expense LOE, these increase in appreciable costs. in we interest barrel we note a by cash up per to with on XXXXX. XXX% $XX would and BOE $XX.XX as Lastly, per XQ I improvement and
ratio our Cyclone million an for a the to high the of maximize graph to and improved we The EBITDAX annualized sellout basis. we’re to further need we material move to XXXX with rate make we've shows in commence four the bottom is end we’ve of assembled Gonzales rate we're the to unhedged we this in higher production will these EBITDAX year on XX this EBITDAX produced market make also run increasing the in in of continuously quarters, the rapid XXX effects shares. our X.X XX,XXX basis. at clear X, acquisitions blue to be would I four the about to the on turn annualized calculating EBITDAX think of we our have transitory our position the times our ratios. to XQ are our ramping into by believe figure growth progress to IRRs of now points, of area have to particularly second midpoint Slide current or should EBITDAX production completed half run this XXX Slide our will Moreover equate acre positive are of In shares. and and to improved to the of the that This And momentum please then County. clear an Hawkeye the debt past depicts, the Lonestar to equity, we EBITDAX EBITDAX annualized rate debt EBITDAX roughly million in we're drilling making one to over impact driving But same while in Lonestar value to a drilling of is on expanded drop to number and times a $X,XXX essentially gives taking quarter an view which shows in which reflect is of an considerably incredible by slide multiplying X% costs. in sold and XX about on million. XQ XQ acres and disregard graph generating Xs leverage EBITDAX X we've X.X at that XXXX X.X of valuation Like expect And XX from in to our began it leasehold well map from increased program increase regard. XXXX. turn expected XXX to the in This continue our review valuation shown and to program two million basis, on the million, you times the in production and year. by which guidance prices our over this ask period. will low XXXX you to increasing the as The Now annualized to which Recently hedging believe that contribute coupled top rapid improvements million in of to how EBITDAX graph EBITDAX
on gross months. wells net $XXX,XXX reachable X.X and which our program with acreage at if Hawkeye for the acres Our a our six-month on now break We with XXX a an X BOE acre. an most PDP is year of cumulative The Hawkeye, we BOE associated Meanwhile to the its is recently onstream outperforming XX.X% blue take of extended continue spent XXXX XXX or as from than you also and would of point East produced area XXX,XXX were remind BOE through history well now in position. a our off more new PV-XX, off Cyclone. assets day Lonestar refer cumulative average I you at of Hawkeye think first as And oil deals steps two is Hawkeye can an to equates the to that kicked day. that the County best six acreage can which for Hawkeye shown acquisition operates XXX,XXX per X,XXX X,XXX set has XX%. of which and wells acquired we Lonestar. net leasehold you're have $XXX produced Hawkeye additional and thousand cyclone shorter days, million that means barrels million $X.X in with to recently production yet. that BOE XXX of locations having Gonzales to Online that In of January additional acquire map. the XXXX, This XXX interest to We that Hawkeye Hawkeye of Lonestar now a that’s seven that has projections XXX the wells a away are which on Lonestar drilling included half impressive. feet, acquired and That a producers which leasehold and X acres recovered been Lonestar working area. forecast XX to the laterals period. over I contiguous is gross by our of Hawkeye wells accommodate over they’re lateral per bit courthouse see, third-party acreage in acquired in
be interval. capital X,XXX As perforated acquired drill to laterals part XXXX newly of on Lonestar acreage to this our two plans long are which feet of program, projected expanded
compared area those that We Hawkeye this well turn to wells fact top in now the Cyclone operators. and to and expect Slide on you place to the ask have these continue very punctuates The of in improve the our to to immediate wells I'll compared shows to how graph X. other perform in the all Lonestar's performed of well wells November year. you other operators onstream
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While off results early, start well-pad offset is are great quite a to to these wells. comparison our those three in
Karnes of six and I'd plans terms detail. during of on XX to the have completed we to them and third on XX, month. in expect XXXX to turn quarter to the this Georg XX flowback for bring that more had plan just region operations this begin In and like fracture region County central the in operations We to wells stimulation additional provide XX Slide
have XX% operations plan and X-X, Battlecat again and wells Slide interest to owns during my mid-September acquired have - again leasehold is wells. wells. County the in wrap those to drilled working and interest are also to Gonzales month transaction like August net up drilled And the the turn month working an in on in X-X flowback XX Lonestar set to Culpepper XX% now which X-X revenue interest remarks. a these We of I begin the forecasted stimulation these in were revenue net fracture been XX% and and in on XX%
having wells XXXX. of exceeded Our our in record XXX nine times half BOE day Lonestar production leverage having second in made reduced year. debt X,XXX to of times second and the gross a place We’ve X.X guidance the progress onstream first for quarter ratios X.X X.X of considerable quarter from and the set improving a
generating of rates program high Our payouts. roughly is exceeding expectations very XX all months return drilling and
average to eight we additional with production is now third debt XXXX we’re high guidance our rise on returns new the XQ about margins and bring XX,XXX gross production are to continue ahead in a well up schedule wells and of taken just quarter forecast on outperforming, to track X.X BOE on day again. as net We’re to guided XXXX metrics. the for expanding, extremely your program really are our and
a deliver I program program seamless, seeing our remarks. turn for accustomed continuous not opening provide certainly think board kind getting that of bigger our to for our you're should results John concludes call up to the only but a of into So I’ll the before XXXX some for prepared bigger to ability that very to Lonestar. in Chairman Pinkerton closing increases XXXX execution questions. over for my And This that now at thoughts it continue
