Thank Larry. you,
future reduce As our free ton we Carlisle flow will at equipment parts at by structure, which for and reduce Oaktown. announced further the Mine, close in permanently Carlisle and cost months, utilizing press release, our margins, XX CapEx decided cash to after have our per experiencing current maximize past overall negative Carlisle
As inventory, we be to significant parts reduce for debt utilized coal we will and generate reduction. cash
three for we quarter, the assets. Carlisle the and non-cash $XX.X Sands impaired million reserve Bulldog impairment. The During total Mine, Hourglass in a of
its million represented Mine closure. $XX.X The as of of impairments Carlisle a result
Additionally, to softness market as by opportunities $X.X we our the has current Bulldog million it reserve prudent the reduced mine. impair thought open to
of Sands impairment due we determined that reduced frac necessary. Hourglass was our Lastly projects pricing, to an sand
sell of to continue through our inventory impairment but sand million. $X.X have We recorded an
answer same a is in producing essentially X.X of How XXXX, tons XXXX, tons. selling is the less is a XXXX, And produce at in will sold record million thing? million might we of less. In Carlisle be selling loss. Well, X.X X.X Oaktown product amount investors Some that tons are last have a tons. the year we concern a million good
As XXXX the in without having Carlisle to the losses support of Mine.
lower largely structure expected pressuring than attributed $X in season. $X $XX cash high Operating inventory we cost was million anticipation Carlisle's million of XXXX. to was margins, coal increased in winter flow shipping million by and
As tons to at we unwind do In XXXX, ton. look sold a $XX XXXX, X.X have either or itself. headwinds those not exist we million
no We the balance year. of sales coal for are additional assuming this
structure cost a run With the will We closure ton. $XX our million. believe Carlisle, to $XX we SG&A of estimate returns $XX our to
Our costs. million in will plus $X bank interest be $XX we will Carlisle, spend closure million,
further budget payment. expenditure capital That's our cash in use we and pay principle adjustments. other We capital coal in total million working reducing million generate in reduced another create should to million. and to which parts cash, will bank $XX have look XX we We $XX to utilized by $XX million inventory
XX.X million has shares outstanding. only Hallador
So is trading where share is a else can an debt, over in and investor $X at company, find paying $X a share. that down
value. represents this think extreme I
the that our I'll front, On refinanced XXXX. extended through of last and facility, financing September everyone our we credit September remind term
in plenty So time of left our we agreement. have
to do coal for XXX% are near-term when sold we feel we sales, XXXX. not looking as Additionally, sell pressure to
return are there but are to balance. dramatic that challenges energy the making Now see changes certainly environment, in we current markets to
was I'd the counts reported out XX like gas declined XX% from As natural lower U.S. these of month point Roughly had that Xth, for year-over-year. of February gas in targets that half a comes to targets. production ago. Baker Hughes rig had
as and oil associated XX% of rigs oil gas the of rigs other the coming JPMorgan half is oil - change. that oil oil smaller major Yesterday, from gas U.S. target. The from off line. This off-line of primarily such dramatic and production reported XXth, XX% WTI comes in come with to gas of basins Permian and will up are Ford Eagle or the basins pricing
permanently of has In no are seeing off-line announcement. is We coal closed, million response. million has XXXX, also of XX that we Basin, Illinois which of with coal closed. significant the XX or public another has come tons of estimate In supply announced production production tons idle January XX%
roughly In a production currently Illinois just totality, of XX% is not Basin the ago from coal year operating.
drilling, future competing mine the coal gas to and higher see closures. to in for reductions due dramatic in due supply competition we prices less So
certainly we strong the focuses We sales industry. unique again So, an this challenges year. year, Again is recognize Hallador investor position. sold sold XXX% on believe when our in the XX% next
and flow Our share. per strong low-cost structure our cash
With that said, phone I open for questions. up the
