again have across solid everyone. commitments specific made strong you, Foundational reporting for once and the Southwestern operational we you to at quarter, We call performance business the results who Good Thank delivered to Paige. all honoring morning we that Energy today. appreciate for really joining us the we investors. the are
strong cash and focused flow our free deliberate to to balance committed We responsible clear returns allocation, sheet. remain and preserving our path capital
manage and to the way commodity and of clearly markets backdrop organic challenged, to and prudently we equity along will have lower is long-term build opportunities strategic capture While value. costs, inorganic and continue risks, the
nothing new balance industry capital is this here in years. doing We across and we've commodity to take steps improve efforts a note SWN and sheets. to been discipline volatile exercise the for to This the business at
have As taken, fully program management resilience of ratio, clearly XXXX approach. a strong our prior altogether revolver, that bedrock the we funded we of maturities mean our when evidenced part material billion $X no is sheet discipline leverage actions strong undrawn this by balance and to market. which in our already our have this current capital strategic It's underpins
focused on sharply remain cash our neutrality and We leverage flow both ratio.
monetize prudent We costs cycle drilling Lowering, year, and down our we assets. performance announced this times reducing in are path Appalachia sacrificing last the rich well are and completion Fayetteville development plan. to without through key our sale replace EBITDA of our liquids to all well
setting for is field is integrated There one company known development high-quality our By acreage and new combining legacy large-scale outperformance. on building its position, records thing is a strong the leading capabilities, out performance. SWN our and of fully operational
Our spans yield agility our subsurface NGL super high are technical condensate to continuing rate yield wells. with the basin in new high and acreage, demonstrated along expertise we and high Appalachian and combined all the innovation, live. work where learning gas apply gaining with us When rich protecting and while we and with those of benefits pace, accelerated of environment an lower performance work And who costs. of all at learnings do improved we rich the the and safety realizing assuring this
in most I you. our a few want Julian more and but moment, highlight in technical, describe to recent achievements will and Clay operational a detail cost reduction for
for lateral in for on reduction to are we on $XXX of XXXX. sales average wells track all foot, First, targets well cost our per
predominantly high-end of came quarter. Appalachian in guidance result rich Bcfe southwest increased or a Year-over-year as super on of numerous across our XXX production the condensate the performance XX%. efforts was from equivalent acreage company Second, production of for the
X% for are My make proud the of as previously that day year dedicated thanks resourceful full we our every incredibly to the and For the make we efforts you and to sure possible. production company. growth of achievements guided, you modest teams, expect these
Third, we reduced compared structure $XXX of cost to total being company, to first XXXX. the have cost paramount over by our importance our management with half million a
careful dollar it and are expense. capital is We or prudent every with whether
the billion. by improvements for our with capital Fourth, for high-end Total to capital production exceed while efficiency investment year-to-date, and we affirming this able will capital operational not are regional achieved million, the guidance. of $X.XX XXXX lower year $XX
and third begun in rigs half quarter, rigs To the end this activity our already of plans. half the average frac all the X in frac of of and operating emphasize year, an of planned reduction first expect crews the within go from this point, second X crew four and six we've to to by
the the on to Looking high intent and liquids. intend quality, in differentiated emphasis margin sustainable large with grow focus shareholder remains leading and through ahead, same. strategic value consistent performance assets high scale and company's We low-cost an investment operational returns concentrated
XXXX with to in detailed expect process, getting planning in just disciplined as past. we're our us the approach can as been While underway we've remain our you
clear. financial our discipline in are priorities Our
we strip capital using As of at generated by pricing flow capital the economics and say hedging of strip our company unhedged. benefits the before our And we pricing based cash you've establish adjust available calculated heard me on program. including allocate off budget project based
flow Fayetteville with and capital supplemented XXXX and by funded programs from the earmarked fully monetization. cash cash by company last As previously generated XXXX are announced year's
end cash our believe We neutral can returning achieve by even free of we the at flow position to XXXX. that goal prices, of strip
investment line However, flow declines cash management. rigorous our will in prices, due discipline capital our impacts to if cash and lower with reduce we it flow, accordingly,
of current company. the we've our our from fact in protecting is the is sustainability our operations, of of efforts delivery that invested value infrastructure. the operations in highlighted water environment the core a The beginning in regarding finally, Appalachian, And
lowering live, we costs that X.X from reducing work have while our the of Today, operate. we more than roads, all we in thereby industrial truckloads estimate where the water million removed to traffic communities and
performance of stewardship. leading Another culture, our environmental and of point proof core safety, supporting value-based
the further to turn Clay to to like now our over call operational discuss quarter's achievements. I'd
