management the efficiencies. Blake. last time has several time This months been to have has significant you, everyone team, of very the overall and industry, the highly of immediate support plan and and EQT. about of people shifted successfully in that morning, and across make these exceeding excited that on organization, Thank Good our we strategic This my from confident everyone. the future vision. new strategic We're The and I'm best have motion noticeable with period at exciting the our forth. progress separation, optimization Post direction to we've is in is a brightest in and real development, full of achieve the short set change expectations. ability focus resulted execute company in to empowering some minds and shift the set the has had on to impact. drive decisions company right an execution our framework
Now, reiterate I'd we made in some the of XXXX. like progress to late
X,XXX prior we On operational the approximately Bcfe, X% third the guidance XXXX of volumes side, over sales and XXX full of year and volumes Bcfe, fourth sales above quarter. with quarter completed
adjusted were demonstrate that sustainable to last expenditures plan guided on to flow, million importantly, we successfully flow. $XXX above enhance Most with in capital call cash quarter generated line deliver These $XXX million approximately our we free efficiencies the fourth Additionally, of guidance. month. our significant results executing free are increase we a cash that and
with begun pure base, chapter. upstream asset premiere EQT a company, world-class play a new As a has
to financial steps and action We strengthen meaningful and plan results. decisive have operational taking a and and EQT's clear compelling are
with a sense to entire committed are moving driving down and our urgency. operating costs is organization more We efficiently, and of forward
meaningful cash that more to flow EQT EQT's to look confident the assets. sustainable in I we potential tremendous of opportunities course XXXX, more ever and will free for of to to many the years continue shareholders for than path cash XX% come. production Over of even will our we single XXXX, to over unlock deliver $X.X from digit, with ongoing combined upside growth, month, year-over-year a five expected our outlined billion, flow mid free with Initiative. the in Target total next adjusted generate years, Last XXXX, and
into cash We flow generation are machine. EQT a free
driven differentiated confidence our is Our by built on key and pillars. unique three position
inventory. First, and the core the EQT the squarely XX asset of with base in to in of Basin XXX,XXX has XX built Marcellus acres positioned a world-class net core years Appalachian drilling
costs are million. we cash announced operate call efficiently January lower to we more approximately are reduce taking On Second, expected to our at actions $XXX cost that costs. steps the by immediate annual right saving
be We also savings beyond, XX% Initiative. Target further our cost and to discussed realized XXXX in
our line I'm have on of projected opportunities and These cost we billion. approximately report to been said, and have savings increases total year. identified the recently implement billion progress and $XX we'll these our That savings. sight have cost have begun $X.X five We on pleased five flow from free already million announce throughout adjusted to which year of to additional of that cash our incorporated year forecasts, many $X.X into XXXX
savings more further commitment management this plan. but both We this team's these later, of discuss to detail in and execute evidence will is our improve progress
two $X and approximately Midstream The strengthen balance flow optionality generation, our provides our debt strength. investment our third at the EQT to That at to cash with is worth the valuation, company's pillar has while same of to Equitrans grade the financial returning to gives time times adjusted-EBITDA, target stake billion combined sheet us sheet. stake, shareholders. further to the times current ability leverage an net to capital X.X free balance in reduce
five projected the our today's than market at of Initiative, XX% reminder, half of our billion, impact a cap Target full $X.X the represents year before of realizing greater flow valuation. cash adjusted free As
of for Officer XXXX. quarter list first of on we As to of candidates month, track appointment COO during announce identified. a been highly ongoing has We announced our search a last and short qualified is Operating the an the external Chief remain
efficient the briefly in discuss running on Brothers. Before that saying I this of manner public rigorous to that our by Rice year the deliver and will the most full the the improve plan and start by results, objectives We claims will this we that made and the working quarter details performance. expect detailed we on laid plan. possible, our I business management like provide is continuously focus on to fourth to evaluate we team recent most bottoms out, fully executing and would effectively the address necessary to up
are observations previously areas story. are an some make but I their few believe claims point flawed where a every claims based selective I assumptions, the to and point intend will out supported tell data by the here, misleading noted, incomplete address not As on and we Rice's and high facts. level don't
Rice X Rice EQT, have analysis that that omits those other analysis, wells generated information. or the the core, Southwest EQT wells overlay differences outperformed claim wells the sit There which data, and in of the the accurate wells an any would First, Rice by showed percentage across not in reservoir Washington of simply Tier quality the Greene EURs. Rice public is important consistently and higher be map counties. to heat examining and the wells a greater are expected By the
XX% offset region that and fall a by typically comparing is by heat EQT wells XX% to of wells relative those were the wells maps wells to Marcellus without co-development, drives difference in and Devonian within same XX% impacted EQT's approximately wells Rice ignoring addition, This wells. under-performance Upper offsets. dataset between impacted the there In co-development When wells. no
directly the performed fact, those In drilled comparable EQT better marginally than wells by Rice.
have Devonian we co-development. reminder, a Upper stopped As
well go-forward wells are representative results. not those of So,
demonstrates data our of support the testing talented analyzing One the those and XXXX, the We With did and this we observation some that thoughtful results the technical and as two taken things. since Rice. our tighter of design standard have a utilized cluster tighter acquired have additional a in frac XXXX wells about monitored wells the we design. measured cluster frac spacing from approach new Rice to implemented spacing. team, was closely testing This
one when open we've also final practices. sand, about make second, frac we design. best stage matter. talk I'll on design, point cluster First, spacing about that and understand minded water, we spacing frac been And adopting
That We foot with led returns us spacing frac extensive to lateral rigorous firmly X,XXX both modeling larger that of technology, production reservoir analysis Mcfe. We per reservoir well sophisticated and maximize repository have combined and conjunction our quality jobs. data, target is optimal this dollars to has believe data, performed on way in intelligence. minimize our results with the
times these fact assets to the is complexity extensive Second, times the the assets of the consider substantial leases claim with of ignores handling the Upper an producing wells, set producing disposal that reiterate, water the area. three counties development maintenance EQT's base with of perspective, Rice just this Energy logistics, synonymous water Rice operated of false. number same operating put position, that portfolio. be and from Marcellus, volumes. produced the asset must times cost Devonian and cannot not both is total wells, frac, and matters times operating with to Utica ignored. all be and either or produced active perspective. five and in To managing these producing is the complexity leasehold Remember assumption water eight To and associated a this assets this daily include, the today an That this logistical compared not five assets wells, cost To and of complexities legacy and inventory footprint same across moved of clarify, the the the
improve industry leadership be switch. this systems employing and and at continue data but were with and real technical in advocates Rice these such add team in of and and as could the Digital on continue tools as tools to processes, the transaction. value. using Rice are must integrated simple those of were top major flipping systems sit in increase not existing will this the resources retaining technology that role systems Third, is retained in run that to key tools a acquired day-to-day members senior own of and to differentiated they and We of EQT expand operations importance tools effectively XXXX. the and data Digital our
defining ground advantage alongside team systems the a Rice up, from choosing technology. building business had the process As of day-to-day the smaller the and the
use expanding the of Rice's larger established you the without This EQT other with would I The are support user robust been also cloud-based technology to with assure our more our sizable company, of our center, action during far only on regarding existing let the lies to our EQT is tools this and certain our was Rice address transformation most years, or of a and data legacy several services from data measured, systems integrating a Evidence with a Rice. ecosystem, but at prudent analytics, out over along and pursue relevant be well has of and takes I E&P digital technology major data-driven past the successful evolving in implementation. a before operational of to risks. process As me EQT. a introducing will point dormant phased centralized, focused technologies with to disruptions that like on integration digital costs. compelling both That most and build and resources, point franchises that time well integration out of real-time operation real-time is tools. last data. course
that As agree Rice appropriately EQT's in not operating environment. we stated achievable reflect or are cost our XXXX do well projections we January presentation, the
the operating is cost curve, well on presented to component offset the scheduling has We But several to over cost lows Rice cyclical and Basin. of smaller it based water area great operations, inflation a The increase plan. years made cost their of and streamline efficiency and Service don't early everyone promote results XX% geographically simply services the efforts will is materials, in EQT communication. XXXX this are in critical past power public to planning, simply efforts comparison concentrated leveraging in a as of and these our and to to believers relevant price going strides forward. the by and XX% produced portfolio, be in much technology and internal a increase a real improve pre-inflation felt not the from was XXXX in today. more EQT
the cost erosion their significant claim see XX% you you If per foot a for inflation, Rice's up $XXX adjust savings. by claimed of
as peers' Mcfe. significant impact operators water Tioga In Pennsylvania by costs, items two not cost addition, The in gas, money like base water per can cash Put greater County, land a Ritchie dollar cost the distance per our geographic from feet. why is the footprint. EQT's be County, water West running produced per EQT adjacent impaired producing asset Virginia. metric. covers produces unit, and footprint are consider LOE to that linear also six across Rice compared that Pennsylvania producing a higher and times larger of foot that to footprint travel resulting of we fracs, comparable accounting other up the on active counties. of unit leading are simply, drilling moving comparability we expense, water to fact covered to this foot EQT's more the not by cost peers. In returns in per per operators, increases, to just certain construction make are differences That matter In These mileage, lower must clear, presentation, by also certain widely treatment dollar trucking foot. of showed differences our costs per showed LOE site one we January water out view well that cost is the and have increases offset and lateral presentation, an showing peer And significantly among meaningfully foot cost metric. but for Accounting just foot lower imperfect our these I'll costs. selling and frac as dollar point a per flowback, enhanced scale. spacing Remember, design. does reason not selling that These the that varies our the real we use cost water than more impact January fracking. and in capitalizes per as we spacing increases have these
and reiterating out. returns period. per out the plan accounting rigorous Rice we to and the that be all line, the hard throughout Our And is conclude assets comparable will lower team will our welcome by our operating far this higher This laid will which on detailed washed regarding will continuing up and for bottoms with year. directly differences a to LOE, Huron forward even driven laser-focused the this diligent focused we and be that than and be less free was analysis. our cash executing XXXX and shareholders better thoughtful The $X.XX, with good to that for look bottom I'll we the adjusted of discussions cost in matter organization achieving during We be cash $X.XX unit leadership this flow. that working presentation on at we mindset. and the plan is make remain news continue costs
to This excited flow Sue now continuously compelling ramping free will place and performance. plan to call up, in beyond. financial is a a We have commitment turn and the I we're XXXX Smith our cash over improve. about machine and Jimmi to discuss
