us Thanks everybody. joining morning, today. good and for Paige, you, Thank
environment, teams with focus their quartile laser-sharp all demonstrated care challenges Inspired menace. surrounding First, their the for as health, the of dealing quarter opportunity the including commitment to world and through I values, a our safety job from uncertainty health thank by while to our performance, want this the top take done our the COVID-XX. during this and unprecedented well core the to unwavering employees country our faces
assets The may diverse people everyone on foundation, thank for to Appalachia me continue capital confidence quarter road of sustainable path that top and to discipline, year, all the proactive flexibility to set of which a doing. this gas build no this ensure to our is by senior achieved for which reiterate industry, our of transition value for we while liquidity to our of in enabling cash beginning what of on flow Tier liquids Southwestern creation company operational the fundamental provide I'm our results to we team, and resiliency X producer, on challenging complete ahead our are priorities you looming invest is a the major and The of give so that within you, note and you're risk strategy. XXXX, Energy And leading ample be maturities. I'd as our execution, solid for long-term extremely like the proud milestone management, supported one through shareholders. deliberate a rigorous in
by reported the market above unaffected power demonstrated As that results total challenging today the company's destruction, demand step conditions. energy the I'm to began and you our telling We quarter by remains confidently we this operationing production, of equivalent with take on agility We track. ahead which expectations activities environment, drilling to risks through second Southwestern with largely significant uncertainties and shifting hold completion resilience associated and stay the across X country.
company-owned our location one gas a of took our to in teams to quarter, rigs Specifically, action Pennsylvania. dry in the relocate
the during the of increasing rig high-volume ready drill in type agility rigs of gas operators make well. in natural up began our As this in This and high-rate, in costs. X differentiator moved approximately can drilling the a is few operations, agility to locations and as of the to additional move rigged without quarter a industry location decision. X week was testament the flexibility inherent their following drilling type as
was top among the in all performance peers, Our drive strategy with expense million. our adds business totaling by major plank million savings permanent our $XX This categories, last our a highlighted full now $XXX we broad-based to again across year reduced quartile cost to cost elimination year.
capital we the including additional announced well-cost well single On reductions, cost cost per foot. a of $XXX side, record
Of to course, at new now going have target aim beat forward. given this a record, we take and
moment. and average to original well will guidance, that well in expect We more Clay our cost a below about talk XXXX
in For as changes total we the line production in volumes equivalent second due higher company had gas expected, with guidance. liquids offset by reported quarter, And activity. lower to the volumes
full on Moving year guidance. to
in yesterday's the guidance mentioned reflecting shift components issued of part the in the with associated a rebalance release, cost revised cost we will production which earlier and activity, and improvement As metrics I with activity. an of reductions
As cost. have a result, annual will higher we production and equivalent lower
we flow cash range, will than We funds guidance supplemented more be not capital invest million, in also earmarked million top lowered $XXX the the is the this generated company of this which year, Fayetteville. and to from our end by now clear, announced to very by previously $XXX
the our cost priority. remains efforts, our broad-based protecting to key balance results addition a In liquidity of sheet and
was June position XX. liquidity billion $X.XX on Our
runway, and the senior quarter, notes further only of credit a maturity with coupled This senior reducing differentiator well. remains strong our amount at of sheet During with position, notes with a XXXX. second market deep we open balance as outstanding our strengthened critical leading due before small purchases our liquidity discount letters of
to the risk has a through address Hedging to our and steps an hedging part management environment. operating strategy volatile dynamic risk like of we've program. proactive in XXXX a taken core our since commodity been important I'd mitigant Now is
within environment, instruments for about year XXX% year pre-agreed example, place rolling higher still on the market an are year, expect hedge across constructive, to our We this throughout and a a natural collars benefit from year. for production gas various the downside depending layered on have we've conditions production. providing upside oil price more as while production natural hedge for so several allow gas commodities. hedged The utilizes swaps will those hedges This approximately protection. our which program our in XX% in fundamentals more ranges on natural gas, we of entered next to Our X-year for
from operating to our While future with financial delivering of production part and from energy natural are also climate doing XX% clean coming mitigate and our perspective, a promote change gas. we
Southwestern performance GHG Energy quartile a in to greenhouse remains XXXX, peer overall with an intensity leader achieving companies. in gas reducing our compared emissions, industry XX% top reduction among emissions
emissions reducing several emissions we methane We reduction are effort consistent to our equipment every particularly detection -- methane ago. on well with and have leak lowest on emissions, among due voluntary the began years that and focused
finalizing responsibility and quarter. report, be will our issued corporate of in the We annual it the third update are
and discipline Southwestern through flexibility operating Energy management company and rigorous a with substantial flexibility as operational a our resilience around capital disciplined maturity components. program, We're has has our profile, leading key hedging financial managed through with a a transportation a lot mix, sheet and with risk portfolio, execution, of protection strength commodity balance of adversity along operational rightsized and leading structure. built low-cost
from turn consistent to through leading and the and Our concentrated is Clay to some strategy details outperformance I'll and grow provide assets. to value large-scale high-quality, differentiated call quarter. operational over the now sustainable returns-driven our from shareholder investment
