share everyone. quarter morning good earnings and fourth of Fuel National reported John per $X.XX. night, Last Thanks
was our earnings this than While in quarters, last right lower projections. fourth in share were per $X.XX the the year's line with
For subsidiaries segment were share storage the the an year note which results fiscal $X.X only were $X.XX regulated million expense X%. at forward. and of the The increase the over was full The up O&M for the pipeline item last earnings operating pretty was per of year. in quarter straight
quarter During incurred in overhaul compressor we units. major the $X.X cost to about million to
Our unusual. on two overhaul have quarter. We themselves aren't typically don't one
increase development project. the to related project in mostly We also Empire cost saw North an
Spot There quarter below and curtail midpoint to infrastructure cold development. you added we stages At respect have to production in we As recall expense year October. production as quarter follow-on recover. basin, gathering a the in the on quarter little at with from us Bcf reduced-price is year. expect unusual and a were of as these only impacting business. Seneca remained Appalachia our approach expect items don't prices prices effect of let spot weather we for that we throughout costs the to production of the depressed to forecast, Seneca in to at in new them early conservative X.X relative earlier couple realization the Seneca's addition saw take But a expense was during returns, our repeat. the guidance. pricing also which levels to in part during the of will the the of significant but it this In dropped later Not
the into line per in in came than LOE which meaningfully higher $X.XX First quarters. which And our Mcfe was generally prior projections. with
this to largely workover back earlier, California the and increase timing mentioned quarters. weighted to fourth third of was in which John due As activity was
range. LOE the to Mcfe next Looking to expect the year, we return $X $X.XX to to per
to hold of operating the develop Seneca the payment operator happens, the payment. development on the capacity $X.X downstream to pipeline with Northern Second, pending the new That capacity million cost quarter essentially our that puts the recommence, will of for expense is capacity payment to Canadian reflects development related and that other Canadian the $X.X will million reimburse Access. Northern of the Access. recoup Once approval project
factors. Lastly, our rate prior tax quarters. was lower effective two was This than significantly consolidated by driven main
tax Atlantic on an to related Pennsylvania Seneca's is a liability. to adjustment income is It First capacity deferred Sunrise.
project of more be Appalachia Seneca's to a production As a out to capacity. benefited deferred to less back We had of a income few us therefore the tax PA reduce transported allows XXXX is our result of similar expected quarter. Access that taxed effective which and its Seneca's Seneca's for be related liability, tax will in adjustment years Northern Pennsylvania. This rate
apply on California related in if Second, oil phase again advantage rise with available year-to-year it a recovery levels historical prices will we're prices are oil oil depending take the future able but credit prices. at credits will oil to tax at basis of to out. activities our current in This These enhanced on credits operations. XXXX,
guidance the XXXX assumes rate range an XX% fiscal to tax XX.X%. in Our of effective
Committee reform code. and many House On includes tax XXX-page to the substantial This as XX% in XX% Chairman a the yesterday, the Ways released front tax changes jobs as tax the well rate of to act. from the reduction other ex-cuts bill Means
other as obviously a long quarter. is occurred before on are as initial of becoming the positive that proposal Our during items take go law. There the two note waited
on XXXX do market of $XXX received or well notes that our interest will XX-year executed whole X.XX% First, XXXX. make this savings. in transaction to of refinanced and million in carry we been a to have we and April interest was maturity. rate the option in rate million This the $XXX X.X% the translate issued scheduled mature notes To new meaningful
of bond safety of years However, cash at recently related two components billion. XXth debt to The the and the by emissions of back sheet surcharge million. the greenhouse because the regulations. pipeline long-term the inflated are in storage call and balance on $X.X so approved FERC fiscal new XXXX startled middle In refinancing both as the in $XXX September settled pipeline today long-term October a to is debt segment our temporarily
any surcharge about supply reached guidance to as at regulation cost agreed to initial forecast certain our threshold $X to revenue shippers which a taking add approval remains that when isn't we corporations account and therefore result parties this the million. related in pipeline will there next into became far $XXX recovery storage As threshold. our that available and mechanism establish million and additional year. our We're received with of new change XXXX exceeded as revenue a that settlement We filed for
Turning increase changed guidance we this fiscal XXXX $X.XX I touched to on since items refinancing. a is Relations as the our of well Investor the range largely expense interest tightening Appendix to a in the earnings page last earnings projections seven our provided $X.XX the quarter. as as results has Detailed to from night's much modestly last aside earlier are share release guidance included of lower of on assumptions not We're the initial per result expected of deck. of bond
to hedges hedge policy assumptions NYMEX construction into continue and flow $XX for gas. XXX XX% that XXX $X guidance clarity year and has for our are assumes layer and price project A as that of have than The production on prices This look we get seen capacity, months. line day the the we'll the our XX in-service opportunities for we'll un-hedged Bcf we additional for to few past in look exact our with amount range Appalachia new as Atlantic $X.XX We're This will more to of volumes layer or begun natural fair shoulder in is in midpoint Our year oil oil of trade. unchanged. additional of is spot over the our right progresses. to in per Bcf Sunrise volumes we starting of the MMBtu. sell an for average and production of about higher fiscal XX% gas
prices will we the weather mentioned As additional capacity colder benefit in I pipeline expect earlier basin. and the
for price per lower you share every with impact assumptions, the be to $X.XX give differs we potential to change prices. on our pricing would from earnings spot in a So, going assumption sense spot same. spot the per now, $X.XXX we're earnings of about keep MMBtu actual expect by that for To average
spending, is $XXX $XXX of Looking million unchanged. on our million capital to guidance
we a For our spending operations midpoint from of at in the all capital grow program, upstream least our Fuel's to $XX the very gathering or positioned, the cash cash National living exceed are by expect two-rig consistent about conclusion, XX% This three In within million year, to with year good years. expect at and five goals within and by the flows. three businesses to the is we next for next flows cash years, our guidance. a
to long-term base. On development the and system the with rate growth five-point opportunities will our side the business contribute of regulated combined modernize to ongoing need
sheet that, to providing continue additional balance flexibility turn I'll questions. is opportunities to operator open as strong With Our to they pursue the arise. line to and for strengthen the should it over