and our I'd you you to like quarter call. to second all Thank welcome
Some We housekeeping for deck measures. do have slide a this.
should second quarter want our landing you log presentation. It be you page. say, if front on just So, will the to website, into
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presentation will So to and the the you with prepared allow that along remarks. follow
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that, of ahead with – me the go really I I or Safe through guidance to the second be the direction I to or leading our to I is policy are get at do to through slide, presentation statements got the first the this to least quickly. was and room thing forward said the let call well, Harbor lawyers which that to these is out saying and and is get go our need But, here statement going not investors. intended start
update had. by the am an you segment X to activity giving I kind Development of of all roll, down an that and Slide our Land with you really going scroll we’ve to into give that, start guys update you and So,
of here a very phase As you community on which Corridor over located XXX metropolitan master large in includes the lots. know, our little Denver area. first I-XX embarked that a the we’ve We’ve in planned all got
of all all lots contract national are our three that homebuilders our We on homes that. under for have or
very We building have out And KB. are there. active in Morrison of them Taylor Richmond homes America, and all three
of the delivered think we’ve XXX XXX have, We I of XXX lots. the lots, about
just So, there two is more takedowns. really
think more going takedown of all will lots. or down down to lots. lots one plus one be lots I think, are requirement, a bit little taken than XX of And Taylor Morrison be take more about KB which has XX I has Richmond and has another lots. then maybe minus, they more XX their
maybe they’ve down two I take think schedules. more got,
thing of our market, We’ve and had. real mostly point. due great is, take accelerated The nice this that our original because entry into price schedules a contract had three about the downs project our from to, has builders have their our project mostly all here success of really the and
price Our an point. price is entry-level point
kind the, of sort in XXX XXX, start homes range. Our the of
may and we a home that there. status, mix of starter real Denver sound that’s a have out the in the That’s market. But homeowners
of had We a sort got to homeowner and meeting folks. meet community have first with number a of our those chance
was meeting than – and community little XX more out people houses the huge a We there have occupying first success. about
gave families homes homes model we of think the throw XX KB homes there. place represented. I for on to than meeting will one their gave had to represented and ashout-outthere more us some who XX from they things snack I us
project XXX, the occupied say, I’d and we probably the addition shout-out a them give homes, would thank homes is under to for in going I actual great them construction. So that. XXX But got,
under either homes a right built So, got I’d XXX let pull say, XXX close issued. building to or me We’ve – about we that back construction. are – permits
building you have permit. a actually got on started get can’t you until a So, home
fees. We have paid tap
track of addition we a we well. are to know, water keep metric lots, utility you and of in selling that So as many as that
and the water for water XXX first how the XXX We’ll our waste of rest lots this deliver roll to purchased this about out phase. and remaining taps from was got homebuilders through likely then, We’ve year-end. calendar
So those throughout staggered three year. there rest of the – four or are the is more of closings those
see they’ll likely we close, as how send each release know get let those progressing announcements press So, you to out those will are those through. everybody announcements for a of
Move to as a since you of X, slide, the a Slide progress kind representation next that visual the QX. both numerical as give of will well
just building we having see a are season. we getting can start really you the then tremendous and So are into
homes builder. homebuilders got six residents of a the we homes. new averaging month and would number we’ve XX are think per I say, So, describing I per about as were
over So, that very has been exciting absorption the winter.
that We environment little and progress presentation. this later a that I will bit about more will we to continues in talk the in that new how in see are
Move about will it’s – to of really kind give view total. a the acres Slide of XXX project. X. you X of rest the The thousand Slide in
as And than want So, see, phase is is component next entry XXX I residential the that. just there the this just highlight really you XXX first of The first a next more that. to much incorporates acres component. residential and can into acres really
is We be a interstate. going have large along the commercial to up component, which
about residential at property. product the mix residential we in are have that we going we So next we interstate mile the half a very exit of of to of existing have component. and and next on have the the our along interchange focus right component own a in our of that’s But frontage kind to broad
are kind the land two product that flip really a mix But and standalone of XX more And of mix, house. give be to kind variety the foot to detached be of you a of homogenous. next phase, to take sites. typical Those a the family kind wide was a is in It had we builders going first just able to If pretty on single foot you the plan we lot. did layout. page, homes than those have XX still the pretty allow it
smaller little single we foot duplexes and density will have town We’ll clusters. have family, will products where out a phase. more We’ll product on bit will then on home have lots, the have have XX acre per XXs the phase, we some first we XXs there means some In the paired which – next like and some some that.
really of so, the speak it product offering that to amongst we are customer builders number diversified A much at. a more base. larger does much And looking
can We’ll costs. set to likely is our able phase we’ve will But our second so allows each this phase. somewhere up have to phases it be we’ll micro of in where be us can and the kind as so phase deliveries XXX four this you construction see probably lot and you manage XXX see that to here
over we too for we absorbing and make all increment. to fees on sure the next don’t developing our cost that builders get far full want those we are to before move those So of lots out and paying
stay did we we’ve phase very to don’t first for want very job from and because not our far think I was that of good efficiently good a in that builders. model, I so our the away lots delivering XXX too only first think
they didn’t well the as have that much, inventory too to So as company.
of inventory So we to terms didn’t much the development costs. have too in
the carved four phases, land of but a work, we carve utilities roads, we into up like and we phases. gutters maybe So earth do and up two the curves that the those into lot can can
So delivering much real-time more in that those. were
make So, that, sure that’s our want to shareholders, wisely. we know important capital are I our they to using because
that having our into much on too putting with not without are a whip builders they progresses. kind work in are or us progress our payment We of
of utilities final we property finish get deliver going look payment I then where to contracts final the and lots. portion paid in to in or then we we a or lot lot as progress a are as phase plat a think we get second our phase going the are we what cost and payment where third, third final as third, progress maybe – deliver schedule will first very as the similar the to looked lot, cost delivery finished they a the
Pricing is able pricing stronger. be little bit disclose to that to to to would probably you. I be going like a
get am good keep becomes our our going until about contracts us. that and know finalized pit guidance you in or giving to that. had available as to with that idea defer we think pretty of to But I I we’ll builders, each we plat our that
XX. to move Page Let’s on
to water oil. have have also Page the the the water waste So, and gas oil biggest know, industry. the we of gas we just oil taken water this to as one water in mostly of activities a and the that they’ve When and services price supply seem and XX, due segment existed, to hiatus you year, is supplying industry have
We did the the of field. have some assets in repositioning
their called largest group Crestone field private sold our in – Resources. Peak operator position had to company a a So, called this ConocoPhillips
pension Canadian about more are find by a they can You fund. a owned bit them and almost out Google them. exclusively But little
a So than they company. maybe differently public operate E&P bit a little
take market a was X in is of look been a handled They it long-term current now, impressed significant or with transition. with in ago. oil mid-XXs management days their look very and then than to with going in at communication they have really their do on the point The the how How also, and them what’s this this a maybe have which transition. channels we have about they’ve I field the improvement focus. leadership X
right at the oil to in now. ability looking puts companies’ field really certainly of invest a it E&P But on lot a XXs, pressure low into
hold for activity XXXX And so, I exploration. in think terms their most new on of of is
as have from did hadn’t a wells have side, ConocoPhillips that the drilled they is, but carryover those they XX drilling and that things the of on completed wells. Conoco One they had fracked
timing based we’ll month-to-month make they price on some we completing So, look as at the if and to hanging the you look wells. the those is up of of – say, low pick a on to and want how fruit this assessment at based sort to oil of of a
modest those So bring wells at or those really can get complete very hold a leases in production. on and they least by to investment and production production that those
don’t a to activity for have yet. don’t on So, is that, lot guidance some of have lot little I just a on guidance they opportunity But a of bit us because that. of have there
financial some let the Slide to next metrics. slide, Moving XX, of give me you the
going so, are to year from assets cash and our as up last up Our do continue well our and year-end water of as go assets, investments.
always well position usually that they means if want cash own as money. as companies assets have that increasing making are So, increasing you to that
position liquidity unique in very areas where strong much company. asset not lot where very of this And and but highly very one there of a making very a is very strong ourselves a the base is and find money, within we and a appreciating those
sorry, I am that let that – could be misinterpreted. me take
money. We lot a of are making
Our now. a lot making not cash, money it’s of right
metrics number, month $XX kind six that’s roll million slide, that on me a what the next P&L. last of the you XX, Slide over to year. Let gives Operating revenues, was the
time this the month, a little growth so, year are continuing last of where we we this $X.XX operations So, ahead share from share. on income and bit basis, then, were in a
tax, tax And take used income have we if – all then, a you at credits. look net we profitability, are up after our the
now send that dollars now are So, up end very, having out. happy sent good some that be a to help after $X we those support tax Washington margin trillion to reporting has benefit very But package to profit. of
Page XX you breakdown kind that is on a will money of where give from. coming
the Development look lot over So Tap $XX.X a at Land sales. if million. million $X.X on fee little segment, revenue, you
of system. fracking we fallen What the is have are value our equity monetization we water obviously revenue. off good So, in that getting water has
fiscal very year. we really had a year revenue fracking fiscal for this revenue this frack and single So, haven’t the in nominal
is what be then, construction activity like revenue you of pad on our pad was there, of another And of would we or see and our substantial for water side a pad have of in kind land. side incidental compaction and site the oil well some That because and minerals Conoco things drilled that. you $XX,XXX that gas number four and in to in oil that tick that had water also is see royalties going up a and sort gas that completed some
if is of And net smaller in sections two This interest portion you remember, mineral on the forward that. where we carry that. we have
and pooling are in interest, pooling that. We where wells we then eighth have of have the these one three-eighths in other four
the even this well in smaller is So pooling.
but you for gives being that, very on XXs, fact it So oil be of price oil it pretty basis an a this aggressive is and of – developed being impact rich in kind would the the on a field the
water our the for oil queue And terms the that have fracking we in as This sell that. of and able will to pricing so, will cycles estate be we well end terms monetize share there in and that in of be the revenue. to to order water assets our in as currently mineral will opportunity sector continue
Next slide, balance sheet impacts.
think, period-over-period then, one So our of. sort you to the the the that kind I of sheet EBITDA, These XX, measures there. of good EBITDA and Slide gives balance there of non-GAAP sort are of P&L, that our a track impact on keep it’s non-GAAP
$X.X you six the months ending. got So for million
So, you trending provide investments your look those when assets, its to that. is really really assets of our value how your on over with benefit many years at sort to is and into doing company starting shareholders these really
about essential that, water talking a about bit and if to are of – that spend are to time our of impacts. you want with our the response virus some today So sort little of in world of waste and talk unique we the sort services. Water
our employees are are we exempt. those So industries one exempt of and
operations day-to-day much, our are pretty So, normal. pretty
standard. I’d �� I our would say, pretty crews are field say,
in and of a have folks be season. that out We typical flu to going are the
about sick, generous them as company, we very we want employee-centric give somebody stay them are policy. company to have very particular is the We an We home. PTO
sure So their then they care all to house our of sure that care they make want of as we but make take well. one that we take health co-workers’ also of
sure to have to do on We have the and waste water make keeps we water keeps flowing site. the be processed. that said, that being But do
healthy stick each have probably personnel maintain of have practices office that other to make try commuting here. the have We where the Our just to still our XX-XX to best we mix from office. distances and and sure offices our XX% to continued we professionals people
accounting and do job some some the folks a they responsibility able type being job very, from do do to some they and where commute our of of can of have the efficient and stuff have that very staff home that, are we do productive very remotely. can But engineers
Our sort sort like primarily the stay activities, throughs, have U.S. of period are builders have houses really are walk activity. that because, home at down continue think said that that Colorado, substantially They that’s under where essential a their onsite they contract. on most traffic is discouraging to complete and than I essential in the other states the they of
said, That construction essential. as itself industry is the classified
site. lot the they do a there not of a to there lot contracts be lot while a and construction, may of a lot is in activity have and that continues have of they pipeline – homes So, are on of
continue they new that have specific start contracts that they have for homes, So and on those to because construction had those complete started or delivery timelines they homes to to have that as continue starts, they we support that.
have crews lines are we sending sure on there So sewer our out that field meters, making all and that and water inspections activity.
to capitalize existing and things on our bring invest how What mentioned of sort those to That looks wells new partner oil XXXX. being activities see deferred sorry, we’ll new activity. those and market. for there those that XX frac am I think are on I gas fruit again, to and those or wells able in But I been else? and to – the So, low are did that hanging has
of our we a are seven Phase put with product of and want in each the it balance trying homebuilders specialties we individual and national out in to their builder If seven have builders. with different as at have two, conversation for as don’t are we room all seven we look in think front We are. seven all sort project what many to you builders. take But be
count products, product builder on is some on builders some specialized builders don’t. have paired alloy some products, have builders and load So some
that have and those the they looking types really well, be each within And figure some get of we doing them of site have the segment find so next players of builders proposition segmentation to agreements to we and able a on the market to out do XX really different finalize the want what out value to for days.
the would I maybe out December to looking current with timeframe. this But to be in keep are November, September, sometime would year, be construction am opportunity our be able we conditions, say, under for Our be of because late I where and market ground I saying, October.
XXXX that some model continues be in see for can and a sometime being by will on their homes opportunistic selling some this on. of lots then, we But what is. their of can we So in – deliver timeframe and then how product start where still constructing position they really
that of in have in as phase our have being second as builders So, first a some new the some phase interest we our strong well builders.
build So, looking well, going to through on at that. winter of how that is through can continue traffic seasons go to as the they so XXXX, the
about lot handling like a on know I and what activity probably I’d turn is it that, might current are sort with open to what do of all to conditions impact this it back of up moderator, questions of have So you to how the the maybe questions. some the all company. over we market
turn So, with I that, back over. it will
