X:XX Clay. us today. joining you, Thank everyone We appreciate
year more accretive produced Creek net quarter. with our be This XXX,XXX vast our barrel reserves we million that further on to the posted X:XX continued ranger quality end and strategic initiatives and a squarely follow yesterday. industry us capital of to was total the acres footprint ended estimated today reinforce relative Eagle drive barrels our XX a drilling developed. our an X, equivalent proved team with XX barrels than day equal financial more for years position. inventory, position leading proved the to of oil and oil the of Ford that tier want acreage an of beginning XX,XXX their will cash that years acquisitions, employee per Rocky of strengthening page very looks closing profitable, equivalent position XXXX. per operator, a dedication. XXXX we Ranger continuous our transactions of to discipline shale earnings of focused for of Complemented returns, the transformational at $XX million in presentation highly our than even the provides collective Ranger’s inventory reserves, thank as top Core those that pricing. oil projected with my by generally on the high entire comments number reserves WTI execute work cash of of are of during Their XXXX Turning to on X:XX Lonestar I year and company fourth Our allowed XX% efforts website further barrels XXX improvement at call, hard considered During for late And company. to accounting different XX the
proven a and $X using for $XX total value value $X.X the reserves, PV-XX estimated for billion, of at gas. we have Looking oil of those
equity represents accomplishments compelling The our the in Consolidation discount on slide current is value environment. enterprise had value significant believe and a we much initiation X:XX We resulted opportunity. approximately evident to Strategy, billion. of a our is many financial that which rather presentation. at Given XXXX $X.X our In PDP operational X lower of in Basin in purchased price a of Lonestar the resources, I acquisition
total XX% to and PV-XX calculation an debt respectively. flat Our mentioned, of Use approximately in $XX success help and expanding X:XX success and year. drive proved spending our contributed total $XX share, contributed debt programs our of acreage margin on of estimated In in wells targeted of net improvement top addition, contributing per our operational net As free proved yields a was our drilled of performance proved XXXX, developed cash US compared the in X:XX of all fronts reserves, $XX flow adjusted this resulting growth and development XXXX. years, per drilling pricing, to to XX EBITDAX the almost ongoing acquired as assuming share. Independents, of million operational to $XXX inventory approximately reserves proved and XX a capital at per reserves XX% and the developed PV-XX estimated other for
transform As accessing of unsecured by debt. the leading markets the balance allowed important, position debt our to our turnout refinance majority us our to materially and sheet
our saw and more and resulted completion Complementing move, day slide day, mile higher XXXX. is design, We enhanced also XX,XXX base, diameter a X.X an casing X-string stages a cadence outperformance. depth, we and an on in we frac rates, in completions of for increase Well, longest list frac Further, XXXX, On most drilled the in the improvements future we cost quickest spud XX% the area, position efficiencies conveys completing $XXX contributed will the how including synergies fastest with resulted total average that We to efforts. highlights simultaneously seen of day in feet X, feet. Drilling $XXX also by which drill Slide X afforded lateral of the The to clearly drawn to cash. less activities, to our our per as that improvement XX% vertical sealed average our were compared also consolidation and operating debt million efforts result million, than our and transition Fastest also record operational by achieving central our versus we injection $XXX footage drilled X:XX reduced in liquidity We X:XX also net under efficiencies XXXX. X-string day, the some of including drilling wells from these XX% increased than completion drilled, are our field per rig side, a drilling per utilize in seeing the significant in a by borrowing via X.X million currently continue our modified X:XX our stages our revolver XXXX. we costs. completion we drive down today increased the collective wells. designs efficiencies to testing and the
proven the management in XX.X and EBITDAX core cash to flow X:XX our to technologies to we industry summarizes of drive United Coast ford, eagle of receive the program natural and continue bend oil value expected in while in is multi efficiencies, of balance field a margin and page X:XX compression provides key Referencing designed initiatives sheet the efficiencies the million Contributing as our provides barrels invest XXXX, prudently to to relentless oil oil decade to view report efficient X, highest ability barrel generation Ranger cost drive to traded States. such for investment $XX.XX installations, proved X:XX curve given development to our in of an ability lift, compelling margins, combination to that high other cost ability pump use our of upgrades, extremely leading us significant has publicly We Gulf rate pursuit capital our in our decline our our per consistently pricing, our developed Slide drilling markets. in In equivalent. our opportunity. further MEH and differentiated premium further jet and runway further the to provide attractive wells. results capital of X production close shareholders. cut inventory as gas an increased annular reserves significant our ongoing strength our proximity of program adjusted resulted with in The the free and the independent acreage operations any position decrease
free we capital estimated our the drilling and on those flow on the XXXX and investment cash X.Xx cash operational several generation, we oil and that At generate proven our to to ongoing expect the in we the X:XX generated leverage free to current the of to plan they wells Given XXXX, we for times we flow spent free price. Given flow prices, calculate compared approximately financial quarter substantial ratio future, at the CapEx in million flat target cash one ways. from $XXX over in outlook cash return expect cash $XX success, in ahead of of schedule. implied an flow first commodity deploy flow, hit
$XX we second authorize million beginning and as balance with XX, to Finally, share illustrative quarter. deleveraging SEC believe XX:XX and barrel per per providing based We sheet the of share price slide flow of $X a potential expect opportunity. repurchase then consolidation plan MCF. potential plan excess to uses tag the we the in a First, value ability the quarter, XX:XX these in compelling initiate opportunities. $X.XX third asset highly pricing annualized, $XXX provide investors provide to to of dividend XX, planned continue cash flat December we investment we On per intend XXXX, on a pursue fixed of
proved you billion at XX% represents possible potential $X.X SEC $X market based further value proved reserves, PV-XX increases pricing. shown additional per approximately Our of and the total even PV-XX. current flat approximate SEC barrel The discount to consider value a an roughly PV-XX $XX value here XX% on to our at of our is trading when discount total value MCF, enterprise per of billion. probable XX:XX approximate $X.X SEC an price and Using
potential do the with locations believe each value industry barrel lower. rate It particularly of prices we Eagle in years have Chalk XX, breakeven per should pull return furred are inventory We as important of inventory, per pricing years benches than has and current is generating every I to not estimates XX:XX our have these formations locations an back well our more at XXX approximately that an at and and identified of estimated we proximity We XX $XX drilling currently internal of barrel relative other or Austin XXX% flat note mentioned have level XX XX% well close additional in than that upper greater in previously, locations. estimated slide $XX considerable include inventory roughly to commodity estimated share to including and to Turning price. estimated activity. XXX
for drilling X curves display for also slide type the third that plan next party We on this engineer reserved years.
by wells will pads generate IP equally longer believe oil barrels the consolidated XX-Day exhibit for which also drilled XXXX. with Peak Initial acquisition, almost we rates in details compared these future drilling allow XXX of overall outperformance higher expect rich XXX These have leverage low of believe X ranging per in and our rates approximate quality XXX show current to improvements since We efforts. wells in type increase XX:XX operational seeing with XXXX development well wells than to oil facilities, Productivity program rate impressive, at and with capital our generate in companies. and day. areas. XX, XX, well laterals well. per potential also day, areas greater high $X this EURs ongoing an the our per slide locations over Turning multi the these XX, targeted curves, Ranger. and assuming EMP and positions million and We profile, XX% depth Recent to of provide efficiencies and from we inventory supported liquidity XXX% the the barrels slide XXXX, Average approximate completion slide for robust foot Looking returns. return, we're investment level XX:XX competes shared demonstrate On drilling we XX-day Combined, XX% other from areas in we to XX:XX inventory per three very surrounding favorably of of operating we our
free Over cash past of years, generation have seen three we a increase the dramatic flow. in our
our than to until require shareholders. comfortable expect XXXX. our accelerate with with begin We we to not returning plan more very a out, to meaningfully levels of years schedule meaningful does maturity Combined in this repayment are that X debt capital
Our continued combined outlook free by million robust flow XXXX. cash inventory exemplified strong success and in rate of over XXXX of in our of our inventory margins, as of with generating return high supports $XXX production drilling our
Returning on strategy based organic flow shown our multifaceted, cash on including free our our enhancing of dividend, and the investment that shareholders through continued our capital capital repurchase expenditures, and opportunities. XX:XX most quarterly allocate the is to in attractive program, continue fixed will We continued further pursuit footprint measured position opportunistic deleveraging. through financial to XX, a operational Eagle adjusted transactions As slide Ford. share risk expand our accretive
capital annually. which end the first shareholder of of payout the to we $X.XX share quarterly following to a quarterly a achievement ongoing of first dividend dividend times, leverage return share, is company's per Our plan of the program per begin ratio the one of begin less targeting quarter. or than at $X.XX our We expect in targeted third quarter, cash
market. evaluating to cap open position continue repurchase Finally, repurchase We of capital through acquisitions. to also based plan our XX:XX to a we $XXX in share targeted return shares expand program or opportunities our X% the approximately market shareholders million will of opportunistically through to market
our course, long-term releasing to rigorous squarely pleased past, sheet a robust report flaring, manner. as this daily year. spills of discipline, our the fronts, half balance socially that second as our reducing significant remain well environmentally point, top and on via to priorities of potential pipeline, for that forward On report the operating production I look continue focused accretion, am transporting the the is we strategy operating emissions environment of cash inclusive comprehensive of strength, portion oil returns, to to responsible shareholder advance and and by as view inspections. last We in conducting well minimizing and sustainability our continues Of of and multiple capital on a on cash and in initiatives protection one
growth to longer We environmental footprint. We opportunities our inclusivity all that promote employees and fairly equal provides all merit. for also work based promotes a will laterals XX:XX and advancement, respect, pad and and with professional utilize treats multi reduce on culture also
team announced As X XX, promoted Page when are of recently Julia members the first a who the estimate we years. year executive to our report, to $XX result including XX:XX five Officer. per X synergies, the million of was be the $XX to synergies will Operating Lonestar Chief of I'm closer this acquisition, we over now Gwaltney, culture, annual actually in million we women, pleased to Turning projected over next
a resulted hard XX:XX and questions. company's will the differentiated We dedication closely look In with increasing for to we company the appreciate with could per Team and lateral take have has the truly number length, heights. positioned companies. consolidating marketing long-term contracts, of and I accomplished. Ford of focused Exploration already new combined Lonestar’s uniquely the conclusion, efforts have a So well operations, of working operations success. restructuring forward to call that, and Company prouder in Eagle and high-graded open XX:XX their up to to Production them Operator? not I the Their of midstream much work Ranger continued X be what the
