call thank the for joining Good morning and you today.
public are and XXXX. to We and close a out ahead our progress look our pleased first performance as year as you to full with share we company
over milestones last While proven to pursued XX execute we decade. have acquire that over the and a we the number months, reached successfully of have same last the we continue exploit strategy
the have management deliver this through private significant Over we risk on flow, public cycles managed cash prudent returns and investment. business a and time, as volatility free both market company, attractive significant to and
and business three under I operational scale. financial, highlights will summarize today XXXX themes, our key
we these building of will continue this Our team on is delivering all important momentum. areas across and
recent with start financial our Let’s performance.
free of Crescent. flow. an We cash million outstanding adjusted levered of year billion First, XXXX and nearly was $XXX EBITDA $X.X generated for
shareholders million commitment X% and total priorities, we or shares repurchase outstanding balance September, share reduced $XXX a X%. returning demonstrated an and shareholders roughly returned We quarterly to yield to dividends by In through maintaining XA opportunistic strength. capital to allocation in XB, cash we and sheet XXXX, where our
balance the acquisition million leverage subsequent of of flow free the in cash highly Uinta today, XXXX, line target. Basin allowed first our times reduce long-term at debt Looking substantial and to quarter ratio is us sheet, closing approximately accretive to in our the $XXX net generation X with our
longer repayment and $XXX In used and offering successful to the liquidity strength January today RBL year, capital to our sheet for $X commitment additional a million have reduce RBL institutional this and pro than we completed post-acquisition we balance proceeds term debt. This notes forma demonstrates preference a significant billion. greater
upgrade structure a increased an Our business $X bond Moody’s consistent with aggregate to by business the execution the over S&P markets this recognized positive rating with complex coupled agencies capital billion, outlook from equity of and been access scale, with has and earlier an from year.
progress debt balance strategy our to market raise to accessed going capital markets $XXX capital and since continued sheet our We’ve strengthen to times public shareholder and have equity approximately of our expand X and base. million public, the
our in offering base. also our increased last September equity follow-on by of while XX%, institutional inaugural Our expanding year float shareholder
Going forward, a on prominent we public presence. remain focused establishing
maintenance chain asset when price challenges, big including as and beginning and within is investments to production our for team year base backdrop and of XXXX, operational integration Uinta both the on industry inflation. accomplishment create a industry-wide of and innovative the volatility non-core on the This continue from In original our infrastructure constraints, our Despite sales. Now and plan. ways we large continues our let’s during to Contango business to adjusted move value remained to our of capital supply our our resource inflation find guidance performance. combat commodity acquisitions, deliver
of barrels acquisitions equivalent the XXX,XXX more the For oil both Basin by of the attractive resource XX% driven Uinta day. Contango from production This our and of proven further Ford. per and the in levels, Uinta than inventory assets, production-based Eagle XXXX a is production the our from development and increase averaged year, incremental
well returns. where from optimizing reducing benefited productivity We in well gains efforts and operational inflation and These we drilling and offset are designs. our areas times drive cycle both laterals, longer spacing completion help investment
high $XXX Our XX% CapEx More spend was in of our allocated at of end plays guidance. to the the Ford. development Uinta in than and XXXX our million totaled return approximately oil the Eagle low
our and and anticipate We paybacks capital, to trends. program one-year pricing X assuming capital times invested current our generate over production to to two-year continue on average
increased barrels million Our nearly equivalent. oil XXX proved reserves of XX% year-over-year to
reserves provides risk reinvestment oil $X.X are inventory XX% our proved and about our with developed. percentage reflects approximately flexibility total of of of and business development of and increased low a more deep reserves up the maintained of value value Importantly, increased proved our industry-leading were locations less PV-XX our at peers. The oil than relative SEC billion decline reserves rate XX% pricing at year-end. which our XX%, to proven We
X to asset across continue XX% to committing OGMP to equivalent our including Last Additionally, levels. set business. integrate our reduce initiative, year, emissions sustainability XXXX better emissions methane by ambitious initiatives X.X targets, we XXXX the our by absolute from measurement and COX important we joined Scope we
proven our differentiated into the and to significantly performance benefiting shareholders. that operators, While recognized financially over time, stronger be business market sector and the confident am by our will I consolidate execution operational continues remain
Lastly, the our continue let accomplishments opportunity our XXXX and we as business set. me to cover scale
for approach to Our acquire value exploit our remains strategy and a unchanged is and shareholders. proven creating
free generating invest. on to focused returns choose are we attractive capital cash on making the and risks flow, managing We
year Uinta transformative. Contango ago were Basin acquisitions over Our and from a
approximately $XXX of Additionally, the was Basin million XXXX, Midland graded position. the over of portfolio, operated selling high of subscale our our we course assets which largest
to foundation scale. we we our well our We have production, a that metrics. scale enhance continue positioned and increased and credit cash and while to will maintaining sheet operating prudently strong reserves in remain grade flow, and accretively financial balance investment And so
we a core our active know, the of most areas we Texas XXX A&D in the are the market. in Rockies. you XXXX, one In focus participants in and transactions the evaluated over As with
number of and screen of cost a in a the asset broader dynamics. broader factors availability understanding of decision-making, the look including and and year, Given confluence we market of acquisition fundamentals. each unique supply, for dynamics, our we valuable and oil We have competitive asset macro capital gas opportunities
the and market example, quite prices, oil to we the in XXXX. were run-up in For M&A occurred gas which during active prior
patient. quality last production to the not sellers, inventory and over buyers. deep of been months, declines, base XX However, our have can afford high be development low we Because we
the will year bolster inflation we’ve an as oil our be and be us prices continue to this access will disciplined and stabilize. The We active sheet moderates the A&D active progress and to markets allow balance market successfully capital expect made to acquirer.
to on will and in We enhance opportunities capture can where and to transactions comes transform disciplined accretive operations focus our continue it we synergies as to when acquisitions and scale business. selective remain and continue we
call that, to financial results and Brandi turn fourth With the quarter outlook. our to full and Brandi? cover over I’ll XXXX year XXXX
