your thanks Panhandle's We continued first appreciate your on for ever to and Thank a the time sincerely company. the you, everyone line call. conference Stephen special interest and in participating in
We calls call. more first hosting to expand a ever host to to opportunity these quarter are provide each forward and to access be for in earnings excited management. to awareness effort our moving investor We plan concerted
Given our company The I quick would XXXX was in Panhandle as founded and a business of overview to is unique like give that our XXXX. first became company in and cooperative a call, public a this model. in Oklahoma, royalty
in mineral are plays. primarily ownership. of owns states XX,XXX we open. Today, yet play the net acres, most producing history, Panhandle XXX,XXX with and eight resource company's were through producing, acres royalty In horizontal with XX,XXX advent XXX,XXX the acres the leased out mineral company. acres but resource not are started mineral For drilling, we the in our way early a of and XXX,XXX material working interest participating acres a XX are non-operated XXXXs Off different
those Our to our understand and strategy our generate levers is primary we There have with portfolio it strategy drivers to revenue is important to fully company and for manage our to are to and manage our multiple the assets. value optimize In order understand assets as shareholders. our assets a to of portfolio. both create manage portfolio five
least from acreage. generating mineral mineral First second, producing from our royalty bonus revenue unreleased our generating acres, revenue
risk we working four participating non-operated a five below selling above by value, Third, bringing mineral the present believe additional risk priced cash owner. present buying believe forward mineral and are value we is that priced its acreage interest rights as
maximize we will interest working shifting a to related we As those pure roots the participation non-mineral working rights, are we participation process to portfolio and time of our working some back away strategically take moving assets. currently as the This look forward, and maximize material of moving the original as we company. towards play intend and from own interest value interest value royalty the and of mineral production company
it lease extracting those return moving revenue, are forward areas optimizing to that generating will I the the provide bonuses four through holdings like acquisitions, our believe focus our drive value this royalty create is However, our for shareholders. and greatest divestitures we to thoughtful At mineral and an would maximum we the because will operational through quarter not point, over is our overview I a quarter to timing business drilling Robb to to are on the is do of and that understand financials. then call control model our the and important turn It on over discuss to non-operator a basis. properties, difficult since
participation, part transitioning away naturally working will business experience strategically our from declining that production. are we of as interest Additionally,
the of principally plan XX% production quarter we of first decreased four discussed. using daily the I that This However, second to when for Average quarter was due higher production the XXXX to quarter normal mitigate decline decline compared to impact of events. three XXXX. levers than unusual quarter previously the to
gas play natural to elected the due First, from NGL less operators working stack interest the the lower NGLs remove wells have stream prices. to high in
the Lea of and New loss $X.X associated of County, and Second, Eddy the minerals quarter the production. in sale for million first our Mexico
prior Third, a actual adjustment operators of after production quarters from months an production. to two of we month receive data the estimated being non-operator three production in
production larger wells This working estimate result accurate Woodford however, experienced quarters. interest Arkoma are second lower adjustment the quarter. the projected a in was is in As quarter than we very a up typical process required. required Therefore than production quarter first and each subsequent it normally in high multiple to true
the expectations the to day XX at day wells with boe XXX was right on adjustments pre-drilling our gross should end interest from began XX in-line As production or these day of Panhandle. our be per declines, Eagle production these new wells per the average high working quarter, Seven producing minimized. wells second boe with at Ford net
revenue progress sales royalty Two others our of year currently This to period during mineral of from XXXX. are elected the to working is royalty production that with production percentage We two for remarks increased first There half wells rigs not Panhandle and have the any I'll of to that, outlook. as one the royalty in turn before wells on since the compared to note XX% that over in now in our in XXXX. participate highest a Permian, other the our I'll over in ago is call STACK, compared close Bakken. and period. two in XX% is royalty have the go With revenue as then with items drilling net interest prepared Robb Oklahoma, in XX.X% strategy, XXXX we XX and the comments financials SCOOP and X% in to acreage of interest seven and on interest these significant an XX average drilling wells. our with
