high additional operating and and our the the on before by first and financial turning including our the from I'll our results. our the financial diluted free corporate to is Steve, quarter. share, Thanks, most were per quarter on also and first found tax providing and website. $X.XX year provide for year's hedges I results flow cash for quarter total Slide by X, production, Using Class for B product moderate Class our over generated Beginning second These operating building including an the first realizations, A plan Magnolia guidance EBIT quarter of model, product metrics our everyone. of continued absence or on rate remainder income, questions. supported of XX%. first established strong for quarter our good both and which our our net price on which of some during and some for We shows at around our production quarter. morning, of containment summary strong quarter, accomplishments to to of the presentation margins shares as slides continued end it effective share and with $XXX was key due per the notably, outstanding guidance the the the net to million, XXXX income We and review income growth. cost to diluted records efforts prices. of stronger X%, business referring diluted last execute of total calculated items first common stock demonstrated including very many earnings
quarter. $XXX equivalent Overall, year-over-year X.X% was the lower to than of in D&C XX,XXX of million EBITDAX. EBITDAX oil just per volumes first sequentially guidance, of production capital Total quarter. our our first and grew $XX XX% representing company XX% adjusted in Our the earlier barrels day million was
capital Cash working We waterfall during chart changes by changes with with cash flow items in Looking operations working $XXX small year and at the the was before X. $XX on of quarterly from $XXX period other impacting Slide the million. million flow cash. cash capital started million
including spending, capital million. D&C $XX Our was land acquisitions,
million Most we first to repurchases As drilling shares quarter. shareholders cash million capital and than where spent completing free Steve wells. of more buying during this first shares. the Cash the in $XXX for in share was XX% flow majority returned allocated during our to quarter repurchasing X the form outlays mentioned, was we the than of our greater cash return our our of
have shares under in million X.X authorization, current quarter. began of weighted diluted average X. Looking specifically share XX.X we count sequentially, at XX%. million diluted Since remaining repurchasing shares progress or open time, the reduction This shares Slide fully Magnolia's XX shares by which reduced averaging share the shares that repurchasing our towards nearly late have total declined our XXXX. approximately We market. share during XXX.X directed we million shares count currently in illustrates the is by our since million repurchase
cash our full with total Slide of also oil As $XX we $X.XX on share with associated the in used associated results of dividend was using year, XXXX Inclusive prices recast share. X, the a $X.XX last to dividend of results, or paid our interim million the shown year quarter final semiannual per our $XX. third XXXX dividend of pay
our least execution to dividend our on successful expect continued We grow strategy. XX% the annually of based at
sheet. leverage philosophy a is continue maintain balance Our low and to to strong
significant amount year. free -- have net approximately debt expect flow and to a to through continue X we We generate cash have the of
mature senior is first revolving of Our notes, approximately and XXXX. later $XXX year which are do balance our million credit $XXX debt callable million cash million. $XXX liquidity not Including our quarter our this until facility, million of ending is $XXX gross total undrawn our in reflected and
of X and balance be Slides condensed as X. sheet liquidity on Our can XX March found
Turning our the increase prices Despite and the in total small a margins. product we've operating looking in and unit substantial income to at increase past over Slide XX year, our per only seen costs costs. cash
revenue compared period. an generally income revenue BOE total were to BOE per of per $X.XX per ago put, the income same the in $X.XX F&D the operating and line in Including in our rate the $XX.XX XX% DD&A costs, on for increase of XX% by over of our margin first year-over-year revenue. G&A, BOE, per $XX which than per we was a captured our with BOE adjusted more our per basis. our margin rose XXXX, cash operating our costs, including BOE quarter first quarter $XX.XX levels, year of or Our of total operating increase Simply is barrel
and have already can items, gas period our expenses higher a few activity, production. operating of year, lease cost vary to some and compared materials NGL higher activity increase influence overall prices. Looking our to workover-related and in largely at from prior has labor natural mainly The positive GT&T The a workover a the specific which general is due to result on period inflation. to much started expense increased
As prices vice GT&T move also move and would the versa. higher, higher expense
partly basis services costs by expenses additional year-over-year of a a and termination offset associated declined EnerVest some last the personnel year's of growth. operating with agreement realized as G&A result from on Finally, our savings
total at be cost year a on the quarter expect of would basis. first BOE similar levels per structure, to Looking remainder the to our we
to and for quarter Turning remainder the guidance the XXXX. some for of second our view
drilling rigs on our pads and operating Giddings will of end of continue We continue the One this year. multi-well plan to asset. the currently development through rig are level activity drill X at to
wells appraisal rig Giddings. both the in some will The and second of drill areas, in wells Giddings mix a Karnes including
in offset We efficiencies continue some should the net which will wells also oil of to additional year. field to improve help our and to Giddings the this some lead inflation Field, cost
million Our this from is be estimated for our which to represents million total now of approximately $XX capital an $XXX expectations. increase earlier year,
faster As drilling half to laterals is year. a Steve about for and increase of net of drilling direct wells the longer discussed, result this more leading
when The cost for other field still than to inflation and during when when due we under the materials for levels was we're capital XX% both our also be expect were the in modest service was $XX oil when less rigs of was production and spending natural than portion it operating increase Despite production XXXX. is was period oil to this year, around labor. current increase $X. and more -- prices a than This gas X lower during our
Our level be the half compared is and to drilling to when lateral completing expected year this for cost foot about per XXXX. wells
expect should XX%. earlier around growth exceed net now additional we this the growth with year As Giddings production guidance to of of single-digit a compared at growth. year efficiency-driven our our high result XXXX wells, full XX% Production be
to in on of year. at the second between turned total of to the we quarter line production during part production of to wells benefit be the BOE expect XX,XXX per second latter the quarter, back half in expected XXXX, -- day. is the growth and turned XX,XXX be which of the Looking Most scheduled are
capital range for between second the be quarter is D&C of in the $XXX Our this estimated $XXX remainder million the and to is year, and expected effective million current quarter to levels, product and XX%. for million be consistent the with Should would at our X% we $XX their second remain be described earlier. I elevated expect rate between prices tax increase to
in As line barrel product $X unhedged anticipated oil remain fully and I per MEH gas price allowing us to completely a approximately and with we mentioned to discount production, prices. capture to earlier, be both for differentials Oil recent higher are quarters.
your year Our is which is share below quarter shares, to million take ago for count now fully be the levels. ready X% We're to XXX second diluted estimated approximately questions.
