morning in participating Thank everyone you, our Andrew. conference Good you and thank for to call.
COO. Clanton, me CFO; and Joining Henry Williamson, our are today our Andrew
We will to later answer questions be the available call. in
record and that foundation report to a sits moving forward. in solid the profitability we pleased very on company I’m delivered XXXX
Our largely to work due the their to team for I our want of are and thank contributions. positive them hard results all
X% key income per MMcfe Net was XXXX. highlights per Adjusted some EBITDA generated share. of diluted to We revenue production million. day, year-over-year interest are Here $XX.X $XX.X from million, $X.XX down year-over-year. net XX.X representing XXX% grew
year capital quarterly by representing balance shareholders year-over-year and share. XXX% cash, through the increased working returned diluted to We in including changes repurchases. XX% by dividend million year-over-year cash We before to increased per our to share million. flow our cash $XX.X during Free $X.XX $XX.X restricted $XX million,
undrawn $XX cash comprised this availability sheet we under revolving February balance free of available facility in year-end million as Currently, credit our debt position. of of cash approximately of of $XX have $XX and a with as a year. borrowing liquidity have growing million, million We
during to In commodity capitalize as XXXX, able were result, a prices on the and we year. unhedged, higher we were largely
Our with prices $X.XX the including year-over-year year, was average for gas hedges, Mcfe. nearly natural per doubling. realized higher Realized significantly realizations price were
of sustained for flow. generated million XXXX This over in pricing full incremental resulted compares $XX combined. and free changes million record year flow in and before combination $XX The increased XXXX capital of of over year. $XX adjusted production adjusted free to EBITDA the and in working EBITDA cash year’s last a million cash We
Koromlan online to the completed gross our four on were has gross in X.XX In X.X net wells, most were over just with Moving assets. year. XXXX. five drilled during in Pennsylvania, August The four in strongly came Bcf wells, XXXX. XXXHC, X.XX which production was the well The months net notable and of cumulative produced
interest the have well. in XX% We a net revenue
of Auburn. The demonstrates Marcellus potential $X our related in XX,XXX Marcellus to in upstream Koromlan incurred lateral, the Lower the feet remaining is inventory in primarily and million the We Koromlan drilling attributable a to completed well. long nearly our expenditures assets, capital
to remaining not do the inventory. the to we continue develop operator with operate, While will substantial work we
year last to X.X total a Oklahoma, net day, X.XX drilling cost two wells, a X.X in of In $X gross capital completion MMcfe three the million of gross up for over and increase we as was per to of production participated net wells, XX% the net Epsilon.
One of half is the year. the XXXX this of drilled first wells in completion awaiting in
solid natural upstream revenues and oil a during Our of assets natural Oklahoma year. with assets liquids. accounted for contributors remain the mix XX% These of our gas gas,
X% flow. midstream revenue Our revenues, year, the and was Gathering steady up which a compared Throughput cash stream higher contributed Gas of System year-over-year. with X% provides prior Auburn to up in system us the to
incremental is area. highly potential development earnings midstream in Auburn Our leveraged growth to the
a not operators have estimates view returns. result, operate I information year-end on the do future from and as on out that results. our based on our upstream we we would to use limited for development We development reserve plans. plan and often the team’s best point to like visibility assets, Turning our optimized
estimated our a report, portion based In five-year operators. capital on we resulted the prior outside discussions in SEC with required change near-term for reduced This of shifting expenditures PUDs window proved latest classification. reserve the our
total did the downward development our However, resource the years. in any not likely change. pace similar believe We assumed will adjustments eliminate for future estimates of current need
XXXX will believe our partners acreage to that is work our continue constructively our demonstrated best results continue assets. highest our to realize to we as the quality, value We of by with and the
of XX.X X.X reserves Bcfe Bcfe, For of offset were increase we Bcfe improved new of an Bcfe due SEC completed. positive XXXX, production. performance developed comprised of and of an which the Bcfe additions to X.X partially These included reported wells X.X increase XX of by year-end proved revisions reserves, producing
to assumptions. timing in the timing. our saw sight rule prove in previous aforementioned booking change Bcfe reserves of of had We the XX.X development impact PUD we reclassifying We these five-year back our to development reduction from on SEC the once reserves. due line a estimates anticipate have We
PUD we overall reserves by pricing. XX% The at SEC driven significant our XX% classified proved X% Despite higher undeveloped. XX% developed year-end year-end proved PVXX reserves The SEC oil. value of a as these Approximately value, the gas, million. saw and PVXX $XXX proved to XXXX crude XXXX increased and natural producing reserves, reclassification NGLs of proved of our were increase million X% by were reserves $XX in SEC
that cash solid asset many meaningful to shareholders our base continue We for years. have a provide to flow will
strong that environments. In production for in success results. As we continued well over MMcf. Bcf X of is XXXX to to of we a net April period price look for positioned variety of commodity are October in price believe a ahead late XXXX, hedged December, we continuing realized $X.XX the at Epsilon focused on We deliver
will buyback for on returning shareholders buyback a to which run end, We months. our announced through and program, share that programs. focused our we dividend remain capital To XX yesterday, new
million cap regulatory limit. or We shares to our shares, increased the have XX% X.X outstanding of
sheet accretive balance to actively pursue opportunities. strong our positions development us business Finally,
initial other companies. Appalachia, small from where our basin Our midsize distinguish been has focus us long knowledge and to history the in deep in
However, we if strategy. basins, will with and attractive also opportunities our consistent in other consider
believe that could We of recent help an us counterparty. the in ability A&D and markets. number the our believe prices augment and opportunities the farm-out opportunities attractive We makes to that commodity volatility on in quickly execute evaluate attractive
our to investment future working community. efforts ongoing are about and includes attractive focused for and assets, operators value BD shares of our better existing This value highlighting the We the with excited on creating remain closely on our our the shareholders. proposition
for the now we open Operator, can lines questions.
