thank and joining everyone, morning, for Good today. us you
volumes indicators royalty nearly produced remarkable of representing XX%, TPL and year three production quarter XX%, crude Fourth a water performance closed operating XX% set every records sales increased increased water driver and gas increased corporate as and with prices. royalty oil those gas across natural key volumes oil sideways despite volumes all records. Year-over-year XXXX
XX% water dividends and revenues paying and as surface in year-over-year. investments Our people, major technology are strategic were collectively up our infrastructure
successes a TPL It water assets, via acquired high-quality culminated dividends million great buybacks. XXXX we in of return levers. and capital these combined shareholder impact Permian in $XXX very million with providing mineral, growth was and royalty, of $XXX In additional cumulative simply all a returned The addition, record of last year, surface year. with over
during an I'd a my for efforts and update of reuse year; desalination XXXX opportunities; an beneficial this on comments topics: and lastly, latest the prepared focus description to endeavors. today our three water outlook and produced our First, next-generation towards a like Permian debrief on on second,
Permian. then rigs decline According in XXX. exited rigs XXX exited peaked XXXX the and last around a and first Permian at Baker highs. Despite declined gas with XXX at about oil Starting Hughes, half around XXXX, to entering steady year horizontal Permian throughout in XXXX, year record to which of the the production
such again, efficiencies industry continue the and demonstrated and find as has through to laterals operators multi-formation time development. However, innovations as coal longer
well year-over-year, quarter fourth to Based X% rig The Furthermore, approximately which on of count drilled from full a were from quarter exit production X%. into mid-single-digit fourth net to XXXX grow translated X% percentage XXXX. all having more Permian lateral XXXX, still exit wells preliminary being the approximately XXXX was feet Permian industry spudded longer about down to managed average the XXXX. only to basis, compared year down despite X% the of in on number approximately data laterals this,
content. splits NGLs differentials takeaway, can, wells of realizations. reduce where the ease for should improve which service The a a year-over-year XX% in XX% constructive has natural up were aggregate, basis on in meaningful over basin is and on and and Permian. This basis. a to count basin production help permits Delaware gas gas represent pipeline XXXX, up outlook total Matterhorn see new subregions certain coming Looking on wide helped the to a XX% ahead XXXX quarter approximately feet lateral we bottleneck simple the Basin, price energy Fourth for year-over-year especially into
rig current estimate otherwise with wells, basin from to and new see build roughly of spuds inventory. growth We to excess where healthy less be able a DUC be return assuming DUC used Current to X cadence counts than generate wide known equivalent Permian of of drilled count normal should XXXX. uncompleted not a but development as inventory levels and age we XXXX still sales years DUCs, to on
Of course, and XXXX course whether by development prices influenced will oil still down. of be activity Permian heavily likely path oil over slows and of dictate or the the the ultimate accelerates production of price crude will
like TPL's to efforts and oil discuss business. our Next, beyond I'd legacy gas
we've quarters, centers, generation towards interest few development last in the increase and the power of robust infrastructure. seen data Over grid a
attractive assets. and an As we've non-hydrocarbon discussed option energy-intensive in the Permian's make developing hydrocarbon resources vast it for the past,
renewable Our desalination years our water gas technology and attract leading other has oil to positioned sizable and TPL with of source position our combined efforts infrastructure, royalty to network, advantage emerging and produced take our emerging substations, long opportunities. projects, storage battery water
high-spec emerge to We sufficient not believe the of freshwater, and availability grid as that to elements just durable and renewable industries we in chain and major bringing other energy, itself grow owning these hydrocarbon create capture the commensurate as value as can rather is by land access and such value, next-gen participate mature. infrastructure also incremental value they
these is not unlike nearly new opportunities our business water to approach decade a Delaware ago. Basin approach to Our the
a business TPL's commit developers to experienced budding and as employed trust capital. Back executed century moved on away instead among exploit just We domains growth we from hired potential personnel advantages. in We're over to liquidation advantage. at for and new invested operators. today TPL opportunities, latent the then especially had with TPL, to these ultimately a landscape willing and proactively resources and has competitive saw where the model an opportunity fragmentation competitive We that strategy a a uncertain
make more front, share as reach to milestones. progress we this certain will we on continue and We
desalination beneficial water and endeavors. produced our to Turning reuse
and satisfies barrel will facility, tested commissioned Orla, Phase be Xb. facility, have sent once Texas it We is U.S. being of which the for desalination equipment located our And be per to final at Equipment there. we assembled it manufacturing begun our XX,XXX to construction installation. refer as is which test The in will currently day partners specifications,
We still this of of the expect middle this facility in completion year.
having expect XXXX, year. Xb of to approximately We $XX million cost with this approximately spent balance $X million, the be spent be remaining total in the Phase to
also approximately generation investment into option that an a million. would capital tied which $XX of gas-to-electric would require be additional nearby a We have behind-the-grid for pipeline,
In addition, process facilities. engineers our other are studying freeze potential generation co-located that's desalination and provides with power costs various opportunities our as synergies industrial or efficiency
produce the our both with completion Xb that multiple In brine of and beneficial advance we freshwater desalination are of solution, initiatives. facility concentrated a reuse will Phase advancing
freshwater Texas, plot from coil to land from a expect be receive we We area second desalination the an in Commission to Railroad produced project undertake where native plan to the brush our Orla, permit irrigated system. grasses, our application restore for restoration Texas will approximate to XXX-acre that with reintroduce
This able plot be facility. the itself accommodate entire to freshwater would desalination Xb from output Phase our
Quality, permit year, an River. its treated have on Texas of the and to the the hope upper is known water Environmental otherwise we submitted that year. responsive this TCEQ last to acronym been That we to technical discharge review We regulators. Pecos and requests region Commission from questions progressing, application early Additionally, by desalinated produced into to have
a highly looking leverage the industrial substantial various purified also critical uses. be ability to resource that of might are desalinated quantities for source freshwater ice We to
TPL, And their energy want can companies is talent Not was. best year dedication, I the employees but the was owed for ever, employees. thank claim Finally, of here XXXX that year it to all collegiality to our at many and that fiscal TPL.
With that, I'll hand Chris. the to over call
