Steve, you, today. you us for and and ladies good joining gentlemen, Thank and thank morning,
March I'm the Page deck, to you'll in If going where turn slide presentation that's to the begin X presentation. of investor the
implementing in -- or year XXXX vision, mentioned our As 'XX transformational corporate HighPeak. was absolutely for a
We in of accomplished 'XX. We production discipline a from reached our what billion free where on for HighPeak, debt $X cash focus revenue. year capital milestone on and behind we pulled XX,XXX 'XX us, being generated a we We annual rig values cash over major 'XX at debt X. value. strengthened average count we down realization a our balance now We positive our refinancing and reached grew year pay core liquidity turning day. by 'XX. focus production barrels With to sheet milestones generation, transformational exercised to value additional over with look over our a free commodity in going a how we rate Just We to when flow position prices of XX% create our shareholder and of shareholders. Now going by became and X flow back. our returning We're we're reducing outline Slide as in to 'XX. our additional
exercise We continue will to disciplined operations.
X-rig laser-focused on our capital program team driving be and our Our costs to allow our will expenses. operating to operations down continue optimizing
organically a our areas focused provide have nice increase the We forward. for which down position financial our be From liquidity in earmarked free us with we game will cash ground we primary where zones. will perspective, to will of flow, and going cushion debt delineation pay the also continue generating remain through acreage a expanded on
dividend rate recent shareholder will In XX% addition, maximize our of through look we per to $X.XX value an annual share. over to increase
Our an ultimately, the acquisitions alternative acreage recently we're strategic going and talk of opportunistic announced share process. Now and additional company to through repurchase X, turning program some highlights. to Page about and our
BOE XX,XXX a over levels sales day. production a moment in quarter, fourth volume for our on the Focusing averaged
and maintenance Our were fourth a total midstream weather interruptions volumes by quarter production day. issues impacted negatively which X,XXX barrels over unforeseen
frac a frac as on just basis In happen that additional or day-to-day to monthly -- monthly hits addition normally we our wells.
a top where lower very during recent still now acres with of X to X zones EBITDAX our reasonable moving to as success continued take during able rigs our now. XX,XXX of in XXXX the slightly development of impacts point this to to consistent of $X quarterly third reduced plan out attention year, quality base from and which performance have This evidenced XXX,XXX budget. ratio in with volumes commodity sales fourth weather-related XX,XXX with acquired flat operations our approximates line year this XXX production We quarter acres zones. middle leverage prices in to a located acreage far, highlights, The we operating hit Flat area, which after to our the annual compared although our the Even annual rates of Top, to results on our quarter, run fourth rate. to considering net in XXXX ended annualized day. been the additional the the also like in of is to in north. team. I'd like We approximately EBITDA. our guidance remain red our generated smoothly Northern still free flow during We've our in impacts financial and excited that we the flow which million. have majority during million, rigs fourth capital about core about the in caliber over newly $XXX Almost annual the reduced and quarter XXX,XXX our brings to quarter opportunity second roughly and debt We So approximately of total asset net factoring were primary our a our Northern both operations Xx acreage first our half and highlights we our the is dedication cash area, quarter the production the this area. that running primary been moving map, production to increased barrels additional the our -- current have from well quarter, $XX have by I'd are under of over draw very by minimal cash position and your fairly Flat Top. testament billion locations
our over through to reported, that a shows Slide position we authorized to buyback. Now established XX% $XX started $X.XX as while established quickly Howard ever minimum also establishing quarterly core way during Basin. my I the of area history and We XXXX production with gives we dividend producing we few XXXX. in Basin as as This a in turning production oil Midland all production now of to and the Midland combination our a a have the as past opportunistic history million the have now organically the by business our share Eastern grow of witnessed increased in player business, a consummated also We share, years is X. this over HighPeak XXXX. and previously anyone County I've from XX proven As increased up years,
Historically, in on XXXX, will return investment. Looking Lower we depending to have focus continue capital on forward into Wolfcamp and our reserves maintain our and down our efficiency development up A primary the prices improve plan Spraberry. primary flexed and as or we codeveloping commodity on zones
slow quick production on the we gas adapt and the and in that We easy on the count will you we we pricing wonderful as make be as sure environments, the demonstrate inventory is place. to brakes, how our with have to increase can increase rig we various will it
As grow I in to always our ultimate the Slide the year-end this is area a our I'm talk say, our bit this going rock to ability with about proved about little to this X. business proof turning is trajectory is location, location business location, and that excellent. Now reserves.
can significantly the compared As see to we XX% to and year-over-year over XXXX 'XX year with growing XX%. increase you noted, prior continue 'XX from to that
consistent almost X growth for years. XX% had we've last the So
This HighPeak gas prices. which low stock, reserve peers. especially proved absolutely this operating margins, public period of higher differentiates all with natural liquids XX% over during have provides us our from We relatively
achieved entirely growth past XX% a Over X we company, years almost rate, compounded the unprecedented. drill public a the have reserves proved annual through as bit,
we will XXXX I XXX% price grew to remind to total reserves year-over-year. million we conservative close book XX% everyone spite was of our replacement SEC ratio we PUDs. Our barrels very reserve almost our dropping crude that are way and the in XXX in the
our XXX booked of primary locations fact, In less locations, total than as are PUDs.
Hollis, we additional in in that presentation. turn will inventory have value reserve additional operations significant cover the is So and and numbers efficiency. to now have not discuss And we the going presentation who is Mike? substantial later President, to corporate captured over our I'm we to that Mike these
