Ray N. Walker, Jr.
Jeff. year-over-year Bcf Houston some day, quarter the in great fourth at Starting X.XX expect at with Thanks, off come per equivalent which it to and growth. first of a the downtime January complex, equivalent per happened in Bcf during day, quarter is MarkWest which is that to X.XX the And planned inclusive XX% an start involving we in resulted Range. our day production, all for was forecast, at residue job This upgrades add for in feet XXXX the new equivalent that's cubic and planned. I'll as soon. maintenance million commissioned getting compression XA of this into XX This and the quarter team a MarkWest done the per that impact Houston plant great built had work for being about did came
and the For XX% reduced reserve in assets capital increase our annual and at total corporate using mentioned, in budget set Jeff $XXX reserves planned resulting this the of facilities year-end XX% and year-end is Tcf XX% a in Pennsylvania. at pipeline currently budget year, of current recent is from XXXX to completion, XX% production contracts. XX.X proved our million, pricing year Around reported approximately for and XXXX allocated from Marcellus Like southwest drilling, release, guidance is $X.X towards value reserves billion directed a PV-XX sales in equivalent, we our to infrastructure. is strip
lateral feet. our remains X,XXX were The of existing reserve Our being years to and added by for approximately XX% undeveloped X,XXX drill-bit XX% proved developed finding Marcellus average proved proved averaging Mcfe XX life SEC undeveloped peers. increased reserves proved per in length with newly developed, costs over with feet, $X.XX wells compared our our exceptionally of wells the strong to
I undeveloped continued currently Over that expect would to these be lengths, of the they're locations longer, on proved drilled, booked. past when several lengths years, will progress the than longer and lateral average our have lateral
improvements the previously than revisions we We underperformance positive also for performance had the in well offset Marcellus Louisiana performance XXXX, more in that North discussed. in as
on provides years, and and the equivalent, doubled X inventory. last essentially five acquisitions our adjusting reserves increased detail Over website X our Marcellus the of Page depth on of additional presentation for approximately our have quality Tcf divestitures. the or
The development the excited our that consistent at west has about the of north, of quality Pennsylvania some southwest our continued on improvement the success us As the Marcellus high on future scope short-term Range confirm acreage. of years, quality rates core last southeast in our of Range we've over longer-term here and further excellent acreage recoveries position has both all previous and discussed and calls, wells potential. and several drilled portions
some let of run through me highlights Pennsylvania. in So Southwest going on represent some great the to things
rate XX in the conditions, per wells feet And, sales, rates these well. we and produced remembering per basis wells rates the million over Marcellus average quarter, IPs. to wells pads. look average are or again, constrained XX-day line different sales all you these When day each XX facility again, peak on at were to constrained XX-day laterals XX XX cubic During from equivalent just these an not fourth averaging turned under XX,XXX-foot
for mark had sales. pads periods each over to day pads counting. a During per four equivalent each XX XXX days feet from the for million to cubic XXX pad were flowing XX days pad up million four fourth day we quarter, at over These that and ranging
One of constrained produced our wells over five those a area sales XX days pads million gas conditions for to under dry from that's XX,XXX-foot in averaging laterals. XXX day at
Our approximately corporate quarter-four decline to is PDP for XXXX quarter-four XX%. expected to be base
be into will us with XX%, capital. hold As decline corporate our less decreasing PDP XXXX, to much we approximately flat progress base production allowing to
Our XX% Marcellus PDP rate XX% XXXX decline for for and approximately XXXX. is
high-quality Marcellus dominated of be million our per our left we about equivalent have we outlook, XXXX, with on continue Southeast apart to slide expect billion and At free production maintenance of as the annual per presentation day, range yielding the As this by in the believe producing illustrated end Bcf more. rate ability end if X.X our to on the sets of in production the the to flat will $XXX decline flow, our of Marcellus And flatten to still at choose the hold importantly, will more Pennsylvania, XX to $X.X we'll corporate becomes year cash capital, X,XXX in more wells even from only and five-year we We in drill. have peers. website. Range
drilled lateral the a our On laterals the top in in footage for feet over lengths a several is with X.X per XX we XX,XXX The in in XX% year. lateral longest in record feet Pennsylvania, XX,XXX the XXXX, Marcellus drilled Southwest prior drilling XXXX, drilled new and side, team to XXXX. rig over planned increase represents million which
pipe pad. the lateral on Marcellus In is fact, just lateral, XX,XXX-foot same set XX,XXX-foot this and the drilling planned the past team currently a on a rig weekend,
on Our lateral shows now the that record. internal research Marcellus industry we've longest drilled
basis decreased improvement in the that by in XXXX XXXX. show well importantly, drilling increased cost drilling normalized While efficiencies offset by This some we've foot cost in XX%, increased drilled service of on a lateral These length the costs served economics to is per average the reflected XX%. seen. our have
which On length The line a wells stages XXXX. expected record lateral a be length Southwest XXXX. in XXXX X,XXX over feet feet, the XX% Pennsylvania, completions and increased turned operations average side wells XXXX. or to we over of turned increase line frac of of to The lateral completed is in an increase X,XXX in average XX,XXX in XX% is
For And per by about LOE on wells for and are average the updated as XXXX. Southwest with in during million which X% increases of impact XXXX, recent benefited on Southwest per in capital Pennsylvania, of modest On And our company we the five-year we $X.XX to expect significantly just we've water less wells be average, we reducing economics in expect lowest XX% taking much website, in area, to of of money in on cost the expect those servicing to of costs water also our from our operators well XXXX, we and again, efforts turn Mcfe XXXX, which net to further. curves not we only the the existing approximately well, priced X% also other the last XXXX the mentioned. water the outlook peers. I some our releases, type decreased cost area, from as have is than increases are our a side, in we're to drill saving in efficiently own representing presentation the our cost Concurrent in on wells half $X.X teams' up year. in some have we The third while recycling mostly service our completions minimal reserves, Pennsylvania. of the with by line pads,
to going its continued team with and to and analytics work laterals, from is pads existing a analysis, better utilization back cost talk work. lower see contribute I'm companies expanding Longer only each incident proud all for that their optimization to zero Our Range while year away-from-work and in a across We had employees, and and every all of sending goal taking comes and with in we really will closer of days safety technical And it, for and our us closer of home about incidents of to one resulting when no data existing and families lot employees our teams also our also safety to years. great predictive and environmental finally, infrastructure, in not unit recordable coming contractors and efficiencies day. safely XXXX it to compliance. economics the the company of expect
each environmentally day environmental the focus an manner. On we on operating safe front, in
minimizing am Louisiana, in not website. example, to focused shared results we've years. designed and standards. our its the Jeff a North made like to the From recognized the was For it thus state several on were as field now a protocols, we've You report to with Sow found testing up which to federal have the can priority we've be and in on facilities methane far I our in our seen pleased over performer last emissions top As regulators. that emissions recently annual area Shifting by Range of report, efforts said,
to new and current and take have XPress remainder we're PA out target, received fourth quarter, results key the we and we've seen and of XXXX forward. dedicated of XXXX, which drivers, from is run adjustments marketing, attribute quarter Southwest significantly have capacity technical over quarter as team learned Shifting of differential one as will which takeaway operations, of going Southwest earth what one improve shoots commenced has more be during stringent year-end both XXXX We'll the corporate directed the layers and projects We'll Bottom modeling. for this and line, focused Our dictates. frac as data Rover by spacing These that Range's on placement, capital of our throughout in on the markets. improving results monitor plan the Tetco We're necessary. Enbridge's timing which incremental Leach the year went Adair pipeline fourth and and to continue XXXX firm intensity, Lower rig include should went off we a and job second continue price-advantaged January to-date. online, in into X year. Rayne end to the to near TransCanada's during and developed full going when into And service is expected integrate Cotton to crew XX% reservoir make the slower incorporating in we late service such towards Project, be projects, Valley. landing and stage production various in the early proppant seismic the with
Importantly, weak differential should to October reduce basis going volatility, months portfolio transportation natural corporate forward. gas the and of increase predictability seasonally these Range's the Range's to especially additions during of July
Cove incentivized, at look demand, likely takeaway line broadly, October. storage that season simply gas come X.X X.X being bring projects half storage our that work is Appalachia service end a gas with closer the winter require providing are new Looking levels at More half to coal-to-gas only to of other quarter with displaced. X.X time shows and from end near-term period. forward end to natural you with At five-year Southwest demand grow X.X power pricing volume third that about the XX of over Tcf, day supply the season of which local prices Bcf significant the into at levels additional internal levels, approximately takeaway gas XXXX, the gas, growth third of through was that and since have of and by additional a expect high current average between And, Consensus will when not new being period in and demand that over the quarter with Mcf is $X.XX XXXX switching injection the the term, is plant that Bcf Bcf Point Southwest day of same by growth per might Longer (XX:XX) an the day a of the from time barrel. the production current Appalachia upside. XXXX, to producers we same ranging level at per of Appalachian estimates support points per for from $X.XX of growth. $XX WTI to strip course, not
for increased transportation All supply to prices. the global to the the Shifting and in XX% potential demand produced local well growth. record this well-positioned inventory net NGL the believe U.S. producers year's portfolio of And largest seeing of XXXX one we demand of demand. for specifically fourth liquids, us LNG with strong our the improving is high-quality that and supports total NGLs positions production We're we access believe Range this barrels U.S. also to compared Range, in prior to volumes quarter fourth per day, NGL Range of quarter, making the XXX,XXX independent of up future
from comes one-third expected almost fact, leverage liquids, providing liquids XXXX five-year revenue In evidenced in as pricing, of gas us natural Range's our to in sensitivities. improving outlook
in before to shown access an via and to strip of would Range's XX% and being quarter NGL Propane, from the of is fundamentals, XX% versus premium year. delivered XXX% gross over advantaged CX local years. natural gross the $XX period cash with five-year in barrel hedging. prices same prices propane particular, Range $XX, prior closer representing million add markets Fourth company over if Appalachian in WTI up average in period and additional or As before the Range's $X.XX a per plus domestic pricing, hedging, international a were realized next portion A gas premium five $XXX prices are volumes up were gallon, international Range's to the improving benefited $XX about significant WTI ethane to presentation, segments destinations. over to market were ethane which the flow
us to this Our throughout top-tier and supply the international assets decade inventory have of and coming liquids-rich next. both domestic projects well-positioned stream on
Roger I'd financials. like Now, to to over the the turn to call discuss
