thanks this Chief making who overview Thank Scott will you be followed you, a of the and Schroeder. conference Officer, I Coterra our by for to XXXX remarks morning Caterina, call. all us Financial few joining are QX
full XXXX will which afternoon we quarter. quarter Q&A. turn was the Yesterday things We our All fourth our nicely call to reported in Coterra. during the then over quarter first all, up as results, lined
an quarterly was came in This production oil average of Cimarex a of of midpoint per QX XX.XXXX the including day. legacy production Our of guidance, right on the XX% top our XXXX. barrels oil over of increase
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plan in our capital and relatively simple, efficiency production maximize goal XXXX flow, cash the hold capital flat. formulating Our was to
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the To lengths striving average Permian also longer costs, including well project XX inflation prudent is a XX% ongoing the justify a impact is lateral we against XX,XXX are year-over-year. efficiencies. project and inflationary authentic are we completion of lateral with and justify Basin. authentic inflation Permian X% XX-well will XXXX wherever of we in are Culberson three-mile facilities when longer where feet, per pushbacks to length prudent project the our illustrated capitalize and our are up seeing our these average on in number welding projected deliver operational to Overall, of project well possible, County, factor $XXX XX,XXX an net the by wells Both drilling total or over be We in knowledge, foot. The foot, this the lowest approximately of counter of largest drilling, of program. our project
already are work at We on our plans. XXXX hard
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liquids these contribution to by balancing our impact upwards. and However, oil were plans we able
We will continue the optimize to consistent work cycles. deliver our portfolio and through to results
rates. is Marcellus XX asset As investment our have Permian, Anadarko current inventory a by The blessed top-tier at we our look years Coterra all inventory greater deep into future, base. the and throughout than of
generate which we prices as price, of an mid-cycle index greater purposes, as $X.XX gas. $XX consider X.X and of X.X oil top-tier to generally define these XX a that equates or we XX of For at those depending PVI rate XX% of locations inventory we We of PVI inventory on lower gets of returns, one Coterra, a XX% at our return decline profile. things worry inventory conditions. at current look about not is to at of If lot even longer the after-tax them.
the integration Finally, a to Thus the few of gone make progress companies. well. on allow me comments the two far, of remarkably legacy our has integration
in place functioning is team. one as organization Our and
our databases, collaboration teams. between accounting, importantly, Most asset making in broad and We of midst resources. tremendous team are seeing are our technical The progress. software the is various integrating human engineering, geoscience, systems land, we
ideas, colleagues organization. bar raising exchanging new from new are the gaining insights We performance and across our
am team as an and we great have and We together talented work across platform. our dedicated come humility review as incredibly professionals, are experiencing the they and I, of
experience We and envisioned. are exchanging drilling ideas, spacing EHS is efficiency ideas, completion
one trust. in another are We developing challenging
once our workforce. testament commitment perseverance. through make express winter my steadfastness exemplary exceedingly events is who united want that, these I also call the again, production like integration best, severe field most in to involved resilient sector. are through making are process. of our our our conditions. The gratitude to through storm We staff, This and the organization creative all, to employees. of would a the tasked will has with the for company over to quality progress operated challenging I acknowledge it our to our in personal want online working long enduring have this Coterra safely and to turn workarounds to we been With kept winter, and Scott. occasional acknowledge I hours, I
