safe us I healthy and during challenging Jessica. staying for all all you, this time. this are your Welcome of you you thank families and your Thank and morning. friends hope everyone joining
protect the the I get our to service health business. steps and and of at taken of our touch response wanted in to quarterly on I safety to COVID-XX Before staff Gulfport the our results, providers into continuity pandemic have we the and
our to remote work being plan, and of office our from part as employees home business all continue As continuity business. remaining day-to-day committed work they engaged fully have in transitioned
job staff without have operations have significant importantly, done disruption most Our our a operations. maintaining terrific field ensuring while, that operations continued safe
an to We when have to and plan this a we how work has formed at set task will at date to return return offices. internal physical work force time. of our no develop specific been But detailed
our in for will responded Our this top to and which want of contractors extraordinary and safety perseverance how thank their all I tremendously I dedication we focused our health am teams is priority we communities and an always organization and operate. time. and employees, and of as through Overall, have be recognize the proud
natural oil domestic is to decline from weighted oil in in Oil capital all strip causing gas has look for heavily pandemic for and peers COVID-XX reduced This we weighted as months reduction led in in lows at associated expectations to in dramatic associated especially year recent the gas and and The a to expected a markets. gas global have XX U.S. increase decline both production the liquids weighted peers our which a prices, through fossil the fuels, has the in spending weighted severe economy, oil resulted spending XXXX in in natural for slowdown capital possibly at gas in declines has producers gas late from addition and XXXX. XXXX. traded coming prices resulted the in to demand
from we are a being well-positioned to rally. our of price production XX% With gas gas, benefit approximately natural
supply lead to term. state demand decline in and balance, returns believe the We if gas near domestic normalized this especially will several next tightening the production that could over the the more expect U.S. decline to quarters of economy gas a a
many short as the are domestic However, cautious there remain on still for term unknowns impacts and we demand gas. surrounding of long COVID-XX term
cognizant approach also supply $X. potential the of as prices response are We
Concerning factors, term and remain our per medium we natural $X.XX believe $X.XX MMBtu range-bound these to gas all of will projections. continue to previous with prices consistent
what we secured As will in targeting price. that our during in reach levels will the and to-date I for detail end recent the production forward by let of we provide strip, advantage more future range currently upper XXXX these hedging we on have take uptick Quentin the
we unprecedented strong remain costs times, liquidity these in cash and the laid of maximizing to flow to During continue February we generation, remainder our through budget committed out capital reducing ensuring XXXX on execute XXXX. and
first net million for an totaled $XX.X million the and of in million flow outspend adjusted roughly the Gulfport's in capitalized $XX.X program $XXX.X reported and working operating approximately of of of the million income cash before to and EBITDA. expenses, capital generated adjusted $XX we front-end quarter. quarter, inclusive weighted resulted For our changes capital due
generating the As XXXX planned budget, expect year flow reduce decline, year. throughout and we to in activity cash we during the free begin expenses second the as capital original our half of
as first declined average the daily production During XXXX, during activity expected, following quarter XXXX. fourth level of of our of a quarter muted
placing combination about to wells by These constraints, delays inclement because a midstream Our weather third-party shifting. our Utica primarily during of lower X%, of quarter. new online in and operational production several was than the schedule due were expected delays
Our across incurred same because below as and to expect or below XXXX operational efficiency well quarter in in come range. gains at invest the to during to our as currently this and the approximately low-end of for expectations, drilling our of reiterate and service well capital expenditures continued million We the original completion lower million $XXX came $XXX partially shifting base schedule asset first costs. budget
and per will continue daily, next term impact less pricing of cubic operated very shut-in to a of monitor months, near to the our in low day Due in shut-ins wells portion the of gas We scoop. a vertical to including our million we gas production large $XX potentially plan oil we production prices extending than forecast warrant. prices, few and by to natural number producing shut-ins should these equivalent feet
As mentioned and of There during gas overall times producers. not to our and the much of on assets our only non-operated we that might XXXX around evaluate volumes response is these and what other unprecedented see associated both shut-ins impact earlier, we but uncertainty operated those of are also our from parts. potentially continue
and one here exploring we this a COVID-XX impacts reshape for sit we year later the the are that gas with bring, production improvement returns early in take As ahead to marked in for XXXX, can maximize advantage able ramps to and being books prices and Notwithstanding opportunities value. of the our better natural in meaningful XXXX of quarter our pricing for towards business. uncertainties us add
these closely upon. XXXX. capital production that are of to no Considering production all both year spend the the guidance Gulfport's the looking at should previously We of means overall year provided in guidance for longer for be what the relied timing factors, and XXXX full
front, the and our efficiencies cost we increasing focus continue on to On improving structure. cost
our individual lower to the line the expected, due during of budgeted quarter. volumes our range high-end As at production settled the expense item
realize through expect economies our our XXXX as we cost unit We and increase decline to of per scale. volumes
his our structure place ongoing to In comments. the will in addition, reduce business we across a have initiatives cost number details Quentin provide and of in more
with environment. repurchases by pleased our Lastly, to-date sheet long through balance discounted during Quentin XXXX debt I total $XX.X am our our XX, reduced term to improve and March to million but bond repurchases the quarter very this approximately touch more as when year-end we in balance on we compared our XXXX. improved of will bond sheet efforts
our in an Turning operations. the exceptional quarter to We on the efficiency had field. front
quarter as of very respect spud drilling achieving both in of active of to over SCOOP. Utica entering our Utica were had rig schedule XX lowest activity and release SCOOP. average We our planned both March in frac of the XXXX completed front our planned since and operating quarter-to-date on XX% XXXX completion areas First the the Shale the we the best in marked also with the days frac all the metrics to core and
and are a Donnie during to operational this making XXXX all his in effectively these during muted happen. important of is to equipment the and level results and Great restarting safely the with note, our teams crews quarter. It late majority credit of following activity both
we the play. to year spud results. in wells drilling during wells feet XX.X% had the of and The an release we days, rig seven down Utica, a gross XXXX quarter In full the spud average ahead averaged rig one drill and to just when an X,XXX have of lateral, released XX,XXX over currently foot XX.X normalizing length lateral
bit. the Our to the I deliver focused on this am record us drill at lengths lateral to XXXX program with and less more quarter of maximizing team for is proud allow
The three a costs XXXX, activities Utica lateral an per the the includes length lateral, XX the that foot and began of during and and completed drilling foot wells Gulfport improvement ranging $XXX significant when progress $X,XXX wells cost structure additional our development of in of future This foot of to-date XX,XXX by play laterals D&C the in completions average completion to in which approximately quarter to below drive per completed during basin. average the stimulated lateral both to of cost Turning Gulfport's well We leading of deliver is active at nearly the in the in $XXX our XX% of wells only. XX,XXX four year with per Utica feet. including the budget for from feet, the March. quarter completed our Shale. of Incorporating our and XX,XXX highlights longest end we well first estimate
Switching over to the SCOOP.
when XX% our XXXX the spud days gross the with mentioned, an wells rig quarter, the quarter, During normalized and the of and we drilling comparing first averaged XXXX. XXXX the best a one to spud release entering average feet program released decrease rig well first Gulfport quarter XX have past X,XXX a in length to lateral, activity, and rig compared in When wells the lateral I wells average a zero to The had one XX.X of since quarter-to-date during play. first days delivered spud currently results foot XXXX and of as a of and release less play. X,XXX to during the when to than five
depths drilled rig, increasing three lengths. wells days. four been measured we and of a lateral achieved adding while were new increasing improvements have date, sub-XX were the To These
first performance XX.X this quarter. days, improvements the just momentum well the exemplifies Our records of of record during year. the a days quarter two both to of forward in XX.X release carry subsequently same breaking rig with our new established and and Gulfport on a We identifying spud to focus we first look with releasing this a quarter throughout areas occurring
length lateral of forecasted front, four we feet. and efficiencies XXXX gross first completion pad during with the this below service Due average completion in the to quarter, X,XXX sales the current roughly On XX% basin, came to SCOOP the turned budget. cost swells activity stimulated our on environment and the an in completed
the activity SCOOP during planned program Our first for the in completes quarter turn-in-lines frac our and XXXX.
that activities lateral, estimate D&C both approximately cost Incorporating approximately drilling of quarter of the Gulfport's foot below first per $X,XXX we completion of SCOOP of during foot per lateral, well and $X,XXX foot only. XX% our when XXXX, including the budget and $X,XXX per averaged
to are We and realizing results on and play. highlights this SCOOP first consistent progress in determined emphasis quarter our repeatable efficiencies identifying, our in deliver implementing continued the
first macro the the and quarter reducing our progress and continued In volatile led to solid extremely increasing focus efficiencies summary, XXXX. of while costs on during uncertain, environment was
highly manage free cash talented enhance continue at and a increase margins have Gulfport We to flow. aggressively team to costs who
enhance to liquidity We our to in provided stakeholders. for maintaining budget February value and evaluating committed remain discipline, on strong capital execute all our exercising capital to opportunities XXXX continue and
will call that, comments. With for I turn Quentin to his over the
