hope manage joining safe impacts for this through everyone is we crisis. well you, Thank and Thank Paige. all COVID-XX us of the as today. you I
unprecedented for to want and thanks Energy extend safe to Southwestern healthy and every employee ongoing I efforts stay my amid times. heartfelt your these First, to profound
nation. to the essential be critical of our industry, providing to proud energy an We’re part infrastructure
employees field frontlines to to And I out who everyday. the are want our shout on
dedication on an have hard exceptional and work impact Your made our company.
responsible first about today. for to kept running You’ve the largely results we’re going quarter and solid us talk
you. you thank have and that So team, you much do. all never I’ve more thankful and more to we appreciate on proud very the been
our and and culture extraordinary charitable of where up to to to to Along company’s support organizations want in appreciation and financial with It’s to stepping we’ve support the examples employees times. time responders further part communities Southwestern extend we at of Energy live. for of support, it when first seen countless work our our extend communities most. all our these a generosity my in kind hearts employees need your the I
few quarter, to a once dynamic company. the and first where the I’d a delivered in of in expand again, expectations, release on last on will headed developing focus were this we’re as team more night. results discussion my Clay that, shown Julian and as In ahead like the our minutes. market
liquidity, and the of for ensure ample value may Southwestern has maturities. give our that discipline, management, a points ahead we hurdles looming while navigate diverse a and assets with rigorous provide flexibility proactive solid leading operational risk capital Tier set resiliency Energy X through foundation execution, be debt no confidence and shareholders. These equipped that well proof me deliver are challenging, the to road
uncertain navigating We’re volatile and times.
providing Often, prices. in scaled result, activity gas, to back support industry-wide forward for we materially, been have reduction programs natural forecast supply and by doing. learn of a As leading capital a
its resilience last in prices all The taught components. critical of have the gas importance low several of years us
dynamics market, opportunities industry. the risk With ourselves including by our these learnings supplemented current facing positioning philosophy practice, capture in company, we and management have the better rigorous the rebuilt any to
our economic commitment substantial real value we of And diversity improving For a of gas premier our we in our Though development super fuel portfolio. condensate the this sustainable leading nation. rightly as natural championed can because and for of has our to changing rich emphasized decades add approaching for markets. two also economics tout now, acreage, SWN optionality investments, have the our
is of and gas. approximately comprising fundamental fact, the with capture or XX% it value production, wells, commodity improving wells. us natural our from condensate high-yield, high-rate, the current in of operations, the our high-volume of to fundamentals from from gas rich for natural our Natural super gas portfolio, whether our allows along be agility This flexibility
recent protection prices volumes opportunity the proactive capture flow, to Our cash of shields protected retaining oil while in us for It provides the also to the company’s XXX% that oil with market suggests. risk strategy the expected this decline upside from management the our year.
value allocation capital projects. highest investment focuses disciplined strategy the on Our
the operations and much the flexibility wells in natural our we natural target prices, have With high-rate capital our pivoted the our program our across demonstrating of to improvement gas our agility assets, gas-producing of portfolio. of
natural of sales day quarter. example, in way initial cubic a four-well recently a Wells area of in record from West million rich we produced place equivalent area, this rate gas. a company for Virginia an pad the per in feet production high set XXX By the rate at of to
to to period towards The the a company. swift our in pivot natural capital gas short of time action without additional and done was cost
natural will company’s than heavily guidance. As more gas the production of be a result towards weighted the shift, profile original
total keep be detail production more to quarter to minimum, while. COVID-related the about quarter second Clay have discuss expected unaffected. a able largely our in in a and been second is teams production will Our to impacts
expected million. reaffirm we for any circumstances, in time, investment a included to let earmarked As will proceeds around And under that not, million. clear, compared $XXX our in is At reduction capital $XXX this February me released guidance year. be capital of our use be exceed capital, XX% to capital full-year last
our a stringent Let’s talk about cost for moment. focus
are and to gains enhancing greater that year, cost, operational we down it our and return year, driving than cost efficiency leading even performance continuous well XX%. XX%. and This Our more we – on are investments. gains be execution energy improving our the down driving Last reduced expect
further extend February, has efforts I G&A reduction well. as permanent In total taken, this cost of with that can actions And already relentless announced expenses to to million. million we say $XX in $XX Our a now grown savings.
strength our liquidity. Our highlighted financial by and runway ample debt is maturity
borrowing able during discount. we quarter, have $X.X our repurchase After $XX million And to a were base we April senior the at liquidity. in redetermination, over billion of notes
social advantaged has don’t Our at our COVID-XX governance have markets nor commitment we time. to means, diminished current access profile maturity Neither the capital environmental, to principles. pricing this and SWN’s
emissions lowest in have the As our before, we is reported rate methane industry. among the
our freshwater methods. our development for are We we neutrality and are transparency, fifth-year in of recognized commitment, our well the as as responsible
tier. men. to Directors pay women These SWN, we principles support are from for are strongly come our I are diverse earlier, we are as who that regardless situation features of where the work. live backgrounds. the And top Half is who it we’re governance the facing. at communities mentioned for And women of same core and is Our the average we
So before I to I the some priorities. reiterate turn over and to it – call Clay want over Julian,
We and to shareholder free return have very clear goals neutral our made to to sustainable cash value. grow flow
So why in invest SWN?
and track and stringent liquids transportation and our resource trillion commitments with cubic through strategic managing disciplined control, premier management, excellence mindset flexible well-positioned the proven agile operational a potential, investment of assets allocation, leading of on business, and capital record compelling strong right-size ample logistics We gas cost XX delivering And feet our have rigorous debt maturity portfolio, country and approach, shareholder-friendly, liquidity culture, providing the opportunity. ESG with deliver team across run of we’re a runway, and management the that results along this recognized the quarter-after-quarter. kind a can of business risk people and consistently
Clay to discuss the turn our now over call operational highlights. to I’ll
