Thank you, Larry.
company our positioning In to Hourglass frac to of sands our spent focus wells to on in We access gaining XXXX main sand, our test has Colorado. shipping bulk with sales, have being the grow new markets. begun
DJ to is in frac goal local Basin. the mine develop Our first sand the
NS rail we company's Princeton our first for sell enabled our the market which to new coal, Loop, For history. us of into the development in time Rail completed
in the summer production Carlisle the tweaked have average, offer a Thus, roughly restarted unprecedented our with utilities finish add to increased total. Hallador's for X it. areas the our highly forcing same should shareholders, warmer These market the X added occurred utilities us our for heat, need least the country more populated we load the increased increased quality to gives This slightly market. production. experiencing was And is time, supplier. And exceeded time export the when new but flow additional different improving plants X may power XX than by a export coal while market at to many if tons year, demand inventory as structure in the customers Alabama. customers are led and the it million to degrees and North levels. by or production increasing demand at the capacity new Hallador will finally, coal this Georgia search Additionally, Carolina, had as several This which we'll the began draw fortunately potentially export the Carolina, purchases coal has customers, need South tons to previously of X.X ramp Southeast, expected, production customers but strategy, than strengthening an Indiana, new the the Hallador the quickly power finish year. X/X. has year of brunt our acting counting to have market, at just We down a this in our giving planned customers ability located at This their dramatically. Furthermore, cost up we to us year with as particularly Mine, and
in earnings be XX.X these natural Finally, unable inventories -- us to enabled tons gas tons replenish, consumption production, us where of coal factors to of creating since gas enable inventories despite record of natural sales delivered are fully call, XXXX. days million measured situation to historic at have a giving gas been add our contracted million through Hallador's lows. last X.X All
sales has X.X we tons which led million and XXXX million fourth from shipping anticipate success tons for impressive X.X annualized guidance quarter, years, us tons tons to million Additionally, XXXX of the in raise X.X million our pace. X both an sales to our
through in now coming. tons in the more season sales is revenue multiple-year seem to annually, are be our is XX% of several early believe entities stages, and X.X Assuming interested RFP increased run I million committed XXXX, and contracts. rate Hallador
our X.X million-ton million than For representing years rates and XXXX, in production quite possible. past, active sold, more tons we much sales with tons X.X have million XX% of of But forecast. are higher capacity XX market
move a at come operations sales temporary the Princeton a operating has of of build growth that cash from little requires Loop elevated mine. and Restarting base some and a we restart we that inventory build cost the start-up them Carlisle coal at time, a X the Our requires cost. Carlisle. personnel The loop. and takes in at inventory it of at the positioning provided that production also The coal necessitates we by quarter Oaktown less of efforts and for retrain
of generation inventory Colorado at months XXXX cash X Additionally, previously levels months the for the million Hourglass decrease The million the -- locations due stated. additional compared to Thus, $XX of $XX Sands was in increasing by cash X first our in to XXXX. first production takes was all has Hourglass Sands subsidiary for increased which inventory. the operations also quarter, provided during
increasing large we in cash $X inventories to operations. expect due decrease the However, to shipments coal approximately by fourth year-end, by million provided by our quarter, our
costs. of at the Looking started the July our production as third with quarter Fourth a We holiday. X-week company celebrated our shutdown
Oaktown three a production transferred of employees from years mine-specific lower and to idle. ton. and was less of elevated were X at we being after costs return, completed miners for quarters, than unit the retraining quarter $XX.XX Thus, As Carlisle XX% X restarted little Carlisle, than a prior
locally test the its have and X in fourth $XX versus a Hourglass, return the fully Colorado, regains to our completed remainder continue form, sands guidance. we expect we to DJ anticipated to sand industry being basin. part complete switching Carlisle of ton produced At Basin to of the expect XXXX. wells to the quarter miles $XX work of X,XXX produced roughly trend costs of As we by X In to first outside towards frac our the quarter
do in mining is frac sand I've be meaningfully before, earnings to investment stated expect contribute we not our Hourglass years. profitable exceeds competency, well XXXX, though believe we we And in Hallador's As expect our to core future it within to criteria.
stands mentioned, million to when year reduction our now debt compared XXXX. $XXX at million, a of previously Larry end of As $X
measured ratio Our leverage slightly Sunrise previously ratio at the increased leverage is our X.XXx, the level at as level. to versus being Hallador has now
Our well our remains covenant. leverage X.XXx within
Our open for of and With the maintenance of said, by CapEx remarks, to quarter our million three being finishes budget to question. million, will the CapEx. call and liquidity our is the remaining that has $X healthy I for which increased $X up million, XXXX $X months pre-prepared million is $XX a that during
