morning. good and you, Thank
With me our John and are from management team. Lonestar entire Chairman Pinkerton today
Before started safe cautionary deck. my note on I opening to X Please regarding you get Slide Slide forward-looking I now want remarks. turn statements X the and of harbor to disclaimer direct and conference to for the
Let by saying the results efforts the reflect member me I'm of these open of team. Lonestar which extremely proud every of
the Let's review messages for day. our key
which the featured NGLs exceeded and XX% XX,XXX up again also result, high-end XX% which guidance. the on a Lonestar increase increase XX,XXX company's equivalent and was oil barrels record First, Production logged the reported guidance. EBITDAX also exceeded basis. and net a gas Boe in another in volumes was of Lonestar sequentially and and XX% sequentially. XX% we're adjusted a third an day That an to high-end significantly production day in XX% oil crude quarter,
only the our also to improving make debt ratio to Lastly, we another dropped but in in quarter that's on a and sometime you is we to continue production year. reserves not ratio EBITDAX the objective remind next our key metrics. progress ultimate EBITDAX, And debt goal to our grow achieve X.Xx to X.X
is Our are call. exceptional into translating internal performance we'll and in rates this the completions XXXX return how substantially outperforming curves our review of later type
XQ issued quarter as XXXX the the Boe in of Accounting remain outlook, of represents completions of is a the range at fourth two from barrels the represents which pair from in day $XXX increase a the capital very hedge to the to the is quarter day, fourth sees previously improvement of and last wells the oil essentially benefited and $XX a production quarter, the with The the with of XX,XXX of fourth well increasing midpoint We're We in in results confident a the year-over-year. the to It's completions XX,XXX in of Boe in the losses as net over XX,XXX those for while increases spending out new would midpoint also our of million. I million, $XX weeks impact issuing year. combined embedded flow million that river, on day issued to $XXX year. net EBITDAX to has of results. in of increasing note million guidance grows, guidance quarter and high of our is million, leader note a quarter. associated third a mix temporary slow for during two forecast another two flooding Frio the slowdown back the third XX,XXX coming production [indiscernible], will also the Our addition eight important Lonestar production X.X completions to shut-ins wells with sequential some quarter barrels XX% in XX% XX% to million a to as guidance 'XX based felt million adjusted financials. numbers in EBITDAX on completions to our oil $XX $XXX from of $XXX of for about increase XX% XXX% which that
generated rig 'XX with funded and program can single a internally be cash flow. executed this Importantly, be can by
specifics regarding spread, equipment to dedicated level a and with a be negotiations As of you frac back precision we'll come the new much of we XXXX. around complete drilling our higher able to
bigger acquire strategically into was net XX delivered a step of by significant agreements in our acres term said, at 'XX I'd cost total of value. XXX% of we of an we both little to third rendered of on combination XX%. through Our our we more leasehold I acreage estimate of up. strategy of acquired Counties replacing accelerated is bear X,XXX Year-to-date moment production. acquiring try primary annual at Lonestar's which XQ over we acreage that length acres XXXX in our bring contiguous reserves quarter the million another average and picture existing the positioned a leasehold and to core a locations about estimated just and our With are net this and swaps where Gonzales how the to Karnes set locations back leasing which on organically that increased areas in core in $X This In PV-XX, and like X,XXX $XX company Lonestar of to areas acquired drilling at some in million and of to talk million. thoughts think X.X Boe than
First, management on that value per asset as let me view I say a job as basis our net a growing every year. team share
are combination year-to-date I made strong that with share the lease we that think year. the we've in drilling NAV acquisitions indeed have date increased reviewed we that indications very returns per to this
three our that really you Second, all do lot and we're way to a we way than towards I spending in better there's clumpiness we I'd goals. accomplished this keep information we business making extent so expected always urge progress conduct can, pretty of think in that to important a quarterly the as reflects can and still a financial we deliver our financial this in to results. And small need we're quarters and you'll the growth that in through we've mind cannot agree to well. reflect whenever
year in the based year-to-date in anticipation on depend of operating areas total. additional and with $X backbones in costs success and our Karnes spent Frog, and Let's a and Hawkeye Horned $XXX about We at infrastructure pipeline that later gas, in talk oil, handle beyond. salt dispose includes water. This areas capital drilling money this associated these spending. capital long-term million cutting of spend in we on these focus XXXX with about To-date million in
essentially million we deployed equipment of so that our investment dollars a about largely recyclable. about the this is some also Additionally, spent it's older. getting of learn artificial of jet wells around as we move We've age -- this work-overs part year, can and more we just on we million new in pumps which lift, made $X couple wells equipment
million acquisitions Lastly, about $X I to-date, for we on hope which our have yield spent returns bolt-on you fantastic have I convince shareholders. don't to
and we only wells So if out, of really costs you left couple to back bit drill to a these and spend. with the two million about drill spent complete have wells $XXX
with the northwest wells. associated as costs well So please Horned that costs third bear quarter those in much the completions, Frog X with as the completions completion associated and mind new saw of
our ratio intensive was two of was the it year. to capital on X.Xx with back third quarter. big quarter debt-to-EBITDAX of a very the So portion the this even running a rigs spend, in reduced for And
Lastly, a I'd be year like up to state checks to I every box. that we're setting that think XXXX
in market will achieving grow costs XXXX, to XXXX production stage XXXX, doing terms spread of negotiations, I'm Lonestar the dedicated the XXXX ability the cash while benefit confident year as should budget in strategically locked capital in any prices beginning well significantly improving or certainty. important didn't our in certainty in see to was half as of pumping of costs were lower result part so our still second execution and to following really While stage that softer thereby our at lower XXXX of we're as us compared pressure XX% while agreement benefit which in profit capital we costs more from a within And Lonestar's in flow. frac
to address I'd like in bit every liquidity. around business how important as Lastly, managing our we're
facility and grid for that the of our to we can our specifics is get we liquidity I think once ability really confident While choppy these of history. I'm priced believe also capital and amended that Friday, cutting of in of interest maturity close to where say that out to goal deliver our borrowing reduce prevented in XXXX. But the Lonestar very I in liquidity rate ensuring equity that terrific should and appropriately. And to our grow up growth is terms the most will company's this; critical significantly and into going the very fall closed say I a very that do level All facility developments credit set importantly markets, our in the equity the can dicey, next achieved internal extending we've highest expense. I interest Lonestar our until XXXX base
Slide dig X review. I quickly to our into are to this what the highlights. to like core of Before well really I'd commence results, we're turn Please our financial which review doing,
Frog northwest that In terms June. during net on like X.X wells. which to by on third the production came materially brought we these those the impacted flush of daily of in just XX add quarter Horned were Of our gross from got X I'd was in quarter. wells, production,
combination it pricing. volumes a of of XX% increase via commodity terms rose our In revenue, wellhead improvement in and in XXX% XX%
in to continues be business. pricing Our best the the
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the Lastly, $XX of would best and margins our as total cash I our XX% barrel $XX.XX some barrel rank in to will industry. cash expenses guess below the were a rose per which
from basis. coupled that to believe of Now we EBITDAX, with this for the increasing production improvement material EBITDAX clear, make in to rapid to generating figure to need annualized ratios it please IRRs EBITDAX. into positive development year is enough which the quarter into shares reflects XQ rapid The taking our of into to that same stick and progress. drop One turn in reduced facts shows on production that Lonestar areas drill that. expect ratio a we're leverage excellence bit we've risk. our have low translate run-rate time slide graph for this EBITDAX on growth a improved our I last devaluation in places is XQ top Xs from to cannot high But quarters XXXX. rapidly program should results. doing EBITDAX Slide on $XXX drilling very ramping debt-to-EBITDAX the we impact hedging $XX by The basis by come, shares. to it it, will And the particularly point to We 'XX. period valuation deliver gives year be This X that our increasing dedicated a of ratio our demonstrating X. that and to debt-to-EBITDAX continue the as X.X X over we financial represent improve really and that graph 'XX to prices that in this X.X to predictable believe million calculating the with the we to transitory. core would equity, we over current while million of snapshot we're in valuation disregard believe you reduce should with We and perceived is have now very To our this also are emphasize increased EBITDAX if which will to our multiplying in driving maximize annualized bottom we're We're be our
quite you began We've ask review to with Slide wells X In these is the outperforming XX,XXX program. program in let's with to County. exceptional by of the to wells interest. XXXX projections That XX,XXX came third-party Now our in through with are acres. extended position now productivity third turn deliver area. this I review These on with production that January, to Gonzales continued months quarter Lonestar cams We Cyclone/Hawkeye reach into now an to program wells and have grown which over off commence the acres kicked of two the the XX%. exceptional. XX.X% Hawkeye X oil
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allows can can situation considerably we'll through swap show and a acreage exhibited dashed remaining a little acreage While us us we lengthened I'm which lot. a that locations term to are and -- added XX lines in the increase of leased by amazing a by XX contiguous combination existing map. announce blue. of of our locations X,XXX to can gives improved acres lease our a of as you. XX% -- that by pleased is be These XXX for the we've right extent lot to feet. shown that lease acreage -- do acquisition exceed and place It's an what which lease in acquisitions That now have in them length our the XX% the to primary this are laterals This
familiar laterals how part You're other with Slide to extended should the graph tack-on return the longer like and now An to focus on returns connect is XX. impact value been Lonestar's of be for laterals. our years. all the you should high sorry, able on that you focus executing on the that now acquisition the acreage these program have important baseline strategy very I'd dots from the we've -- creation I'd like underlying to be
acquired and replace have be term actually one to block our return And as do basis acreage every areas high mechanism, acquisitions of in through strategy inventory very we've capital the sum these mass page surgically production shows the tack-on with of communities almost collective negligible building of our tack-on we as these requiring is centered amounts the individual so. through acres we the of scale calls, just year about but a a year-to-date active about a growth drill around at using which grow bit. primary cost I shows low very of impacts these and we've In $X.X that in trades. the And we've add been transactions first the to bottom million. on the come actively you XX state year-to-date, very and only to reputations Slide cost, drilling in leasehold the where The each acquired the fundamental total able not to rates acquisitions. while generate these of areas X,XXX have drilling table at goal and this of And asset at we're it.
million is our Importantly production clearly acquisitions approved which enhance estimated estimated twice lease and additions we reserves of X inventory. these add that PV-XX. over XXXX moreover because $XX estimate Boe this And an our acreage length, oil they lateral drilling at million flat add $XX of most these added reserve the IRRs of
just Lastly wrap done XXXX. turn to tack-ons I'd XX add like I planned think with calendar remarks. I'd you my to to in we're don't Slide up
record Our ratio ratios, our the production exceeded now leverage X.X% third barrels -- reduced debt XX,XXX made of in EBITDAX considerable quarter of a having and a Eagle X.Xx. improving day progress to We nearly set our guidance terms company. Ford to for
day, $XXX remind also we'd only are to oil is XXXX that very XXXX X,XXX expect results a Burns guidance. quarter on EBITDAX outlook I Our payout. I'd the activity we million more and increasing dictates $XXX dynamic fees a that core expect XX,XXX end We're means a of XXXX that X as in drilling a return for grow day a long-term barrels a expectations, to XX,XXX areas After would programmatically again of day to of fourth production you adjusted a generating online at as to program range the year-over-year. that based about our to XX-month the note XX,XXX we a increasing growth remainder quarter. million these day $XXX barrels much of previously day probably to third Frio crude at in to flooding This spending XX% sharp that as production river some in impact of fourth issued a high production million. we will wells our barrels Ranch the barrels lingering and to $XXX effects rates as as slow we capital and our which meaningfully confident in really well bring our discipline capital to of and XX,XXX barrels is feverish quarter, view plans. exceeding to high that development rise
with program cash can by generated be Importantly executed this is essentially flow. and internally single a funded rig
in around we to deliverables frac higher level drilling a XXXX. dedicated come precision back here As with spread about a our agreement, and complete of negotiations be equipment we'll able much the
turn with prepared a Pinkerton this and to I'll that, Chairman concludes remarks. over set it for brief our remarks Now my of concluding John
