look We you you, a all Thank solid had thank in you morning. third in this for detail quarter. discussing Welcome everyone it moment. Jessica. joining a and more I forward with to
there down to to the and other and had charge been filings me more the yesterday. board. get I have from the to at very to COO now want The we year three his have that's take Gulfport. board and and industry the transparent decades plan about to the positions I and in afternoon press add operations, of to what in resigning made assets of much from experience most do. asked I we disclosed the as know team, here what E&P acknowledge Mike We've yesterday First, announcement the stepping our and isn't has release than
the and I opportunities With to foremost shareholders remain quarter to In So we the is met performance. aim that now The all our expectation our keeping after focused profitable continue discuss ahead this be will spirit Gulfport enhance growth. to I will third developing raise in in moving forward. move of mind. announcement deliver our value and want be to your on act best focused disciplined us my yesterday we of capital that, board forward we to drive attractive are interest team we'll should on allocators, with bar. the
As million and on gas adjusted Gulfport EBITDA. $XX.X reported announced third approximately $XXX.X million oil the of for and generated XXXX, income approximately adjusted report natural earnings $XXX.X net revenues yesterday, million of of quarter the in of adjusted
per turn-in-line continued gas by base outperformance quarter Gulfport, approximately feet delivering in year-over-year, equivalent cubic increasing increase driven active per total products. both the the production net and our strong and wedge for an core a XXXX third of of quarter ethane all of experiencing price during the production asset schedule operational XX% of billion production a X% marked quarter quarter. in strong across The realizations our and in of second day, areas over and increase Total recovery day averaged our X.XX
NGL and the the improvement Marketing Shale stream. our adjust ethane with Gulfport to the during the received and in value elected Midstream teams of in both optimize barrel enhance to products our continue for Utica quarter, all to received the and Our prices the recovery and third value the maximize SCOOP ethane for composition
in per activity quarter performance adjusted quarter XX% by $X.XX the EBITDA of resource our year, our narrow On to coupled Driven XX% nine strong second to to we strong portfolio as very billion increasing the evening. of our on strong remainder price from forecasted anticipated earnings Mcfe, dynamics XXXX our opportunities differential gas net With alongside regard realizations, unit total ever-changing and we experienced through again of over now X.XX total will expense and third to equivalent basins, gas XX% months and XXXX. XXXX% increase an when for the the quarter of continue our yesterday over have year-to-date cubic of capitalize of the X.XX we And during resulted be diversified us for leading operating per XXXX per the the and day, the during with equaled as cubic guidance. expenses, front, increased pricing XXXX first production gas, XX% feet billion gas benefit the created our flow natural feet in range to the well production year-over-year. within during anticipate natural
Utica within Gulfport's now forecasting ended million. D&C the $XX.X and previously non-D&C within During months $XXX.X budget, during the capital invested approximately the the with the XXXX book-end remaining today, inventory do operations commitment for to adhere running quarter to Capital during budget today. capital and fourth DUC million further the our quarter-over-quarter our to in of be our million full our we hold XXXX the and not range, play activity totaled and fourth XX capital currently have activity year. commitment totaling during of Considering decreasing remain significantly totaled discipline adjusted nimble $XXX quarter total XX, decrease capital range provided in capital a approximately We rig our at the in XXXX to spend spending the capital will capital gross to we large of wells the committed nine of budget. September XXXX to we the emphasize have our
third we are completion the previous with SCOOP the XXXX, value liquidity. concluded Lastly, available to the to devoted not most during quarter the in as XXXX. and until evaluate of shareholders, and for Utica Consistent our of comments, resume of best expect uses this activity do our recognizing we both activity we the beginning our
down of X.X at shares Gulfport million debt and our open leverage the has current levels, Gulfport the XX, and from we at and decreased times the in have remains market of times XXXX. targeted September range XXXX authorization. X.XX year-end, ratio approximately low-end to under net $XXX reduced of million $XX Year-to-date, our as During our repurchased
As September outstanding reduced of our facility balance to cash had $XXX million XX, credit $XX in amount the million sheet. revolving on held we the and on
had release we of during the And line In with and XX.X feet, days, increase first a operations. highlighting Utica, our an details. to two XXXX, normalizing average the an length average Utica on consistency phase lateral, an utilizing months the lateral XX% over the we the in full-year wells XXXX XXXX. of in spud averaged the of when rigs, nine drilled gross wells, Now XX of XXXX-foot our drilling of XX,XXX operated spud-to-rig results
in to during XX,XXX day X.X XXXX, completing per Utica a completed stage Turning wells stages Shale, count completions averaging total stages. and of the we XX
equivalent an in the very we lateral feet. Utica, of with third record as of level another XX% quarter-over-quarter of X.XX X% a dry of and with the length the months net production the year-over-year, well averaging During the XX per production marking increase cubic during gross day turned-to-sales This an billion XXXX, quarter to first led asset. has gas of from quarter, nine average activity strong as wells asset, level for X,XXX
plan turned-to-sales throughout asset the to bringing XX we in seven year. During the quarter, consistent be fourth continues The our reliable our wells very in gross wells portfolio. to total Utica operated XXXX Utica, and the turned-to-sales to gross
roughly average of XXXX, our Switching We days nine pleased comments and to spud average consistent of set XX% have X,XXX over XX% XXXX and lateral XX over three continue released from an spud-to-rig XX in a well, release release XX during of with been days, less. XX averaged drilled wells and XXXX the one months including spud-to-rig XX.X had in first XX% wells Sycamore on resource operated lateral, gross program, SCOOP, we performance have last in or see the rigs The date normalized Woodford to play. a to improvement are year-to-date. analyzing the average. to Woodford program in foot had my increase quarter, of the a when in play, an XXXX the the drilling wells XXXX less, phase, and utilizing from with the or well extremely of feet, days of a improvement we of released our XX% X,XXX When the the length
release in reminder, XXXX, As XX of days. a had than zero spud-to-rig with wells less a Gulfport
quarter. Our release the XX.X of by improvement highlighted well releasing spud-to-rig of continues third a with to Gulfport during it days be just new further record establishing a
identifying, and to maximize on into remaining of is areas only results. value focused As the days ultimately drill you improvement, fourth for we not upon invest. decrease implementing our XXXX, to We to build efficiencies see quarter realizing play look yielding identifying continue dollar on can the but and this every focus in momentum
months throughout crew day, provided in per XXX.X year, feet an of well one And encouraged averaged as and cubic moment. we during the remain on and which great of gross X,XXX On and including Upper XX length and of X.XX wells, we well, the with the stimulated completed in XX% equivalent on yesterday a results production you as see I'll very evening, see, as set a continue well larger set can Sycamore a gain year-over-year. Woodford turned-to-sales Woodford we while nine increase to history XXX well several we completion during front, XX% stages wells. day the lateral results we earnings XX both running longer-term per completion longer-dated additional XXXX, million from feet, quarter-over-quarter further touch as Production initial of Woodford first on quarter the one and stages averaged wells, Alongside Sycamore our production total.
tool wells we section. program the of XXXX, take During in and us yielding were to from the completed of well results, both us full the our during recovery. section initial section drilling the requirements, very development have operation, strong the full fracture driving every the the completion shifted Observing learnings the all selection, focus are are to section with of on wellbore completions. and regime and the in apply well. well increased connectivity development fine simultaneous allowing completion set to the complexity, well remainder over and achieved Full results, decreasing resource cost Optimization phase from benefiting those we maximize efficiencies, drill, performance allows increases days our well within efficient design, realize SCOOP, in largely well casing to
quarter, anticipated led within in to the expected during section With Our fourth our learnings can targeting activity, the the date SCOOP, X XXXX, Upper to turn-in-lines turned-to-sales activity moving when the in to estimate us regard few simultaneously. completion adjust well a the drilling quarter these late early third to the our to of Miller formation. of we completion be completed occur Sycamore have exploration wells and the we
XX% a confirming expectation on very early producing basis history producing development of a for liquids-rich Upper terms of days the production, our focused the a is basis production Sycamore's cut, the as and strong on and has respect more the liquids three-stream being in for plan both look a Sycamore liquids approximately in more XX% optimal the While in the it potential two-stream are recovery for well oil resource. gaining well development of still timing of in formation. development and we to we the all additional XXXX, with to scheme density on forward resource on We horizons
our like Winham of indication Lower the Gulfport formation look receiving what well could horizons. conjunction potentially in targeting co-development As the targeting goal a reminder, with well XXXX, across these our during the Sycamore Serenity of co-developed two early with solid Woodford,
has days the above long-term is Serenity wet these turning type over type still And XXX% it Serenity And curve the outstanding is on XXX the the amount After results. to of the produced seen basis. and results. wells have cumulatively sales, early significant a is these Woodford approximately online. outperform proving type the well wells, co-development resource While the place continue in Winham since after curve in a development gas daily the strong XX% XXX to online, to curve, there when type above curve roughly the of we normalizing of and zones provides days Winham
very and but no it's her play. now still results to as if out way longer we how unit value including of and part a and we've producing more Sycamore over Upper to horizons the Sycamore the our Sycamore We're lot our for at and learned plan the we shale will XXXX, across development we're over With but for In in XXXX summary, solid maximizing multiple excited more co-develop to turn targeting the Woodford, the have get the that, Lower plan program, the of to the the comments. the do have in into our time. a date of most we As with call currently year-and-a-half, I it, same resource, of Keri a last meaningful out plan we the play, play, question recoveries a learn.
