healthy the cash of working John, commodity seen company Despite XXXX. and and operational before free carried reduced you, the by good in driven momentum capital shareholders, Net debt the total Thank provided the everyone. returned changes operating all morning, value cash our into flow, in prices we significant year, early to by activities more driven generated low adjusted funding flow, quarter, top-tier our capital performance. operating price hedge by million weighted for realizations, and the book adjusted $XXX that first cash XX% expenditures expectations half our roughly We analyst and approximately cost despite than is to strong XXXX. the capital the totaled during free program EBITDA first beat
by the and XXXX. late XXXX futures we Given gas first cash the curve, second driven in exists the cubic unit the optimizing company's expected of is for natural per line the improve million equivalent, and and Production quarter LOE field. spending of rising primarily quarterly of feet expectations below declined first to free currently costs flow XXXX as into result totaled half that in prices are consensus X% and in with per analyst contango focus continued lower in midstream quarter reducing anticipate results through XXXX. and The costs expenses capital significantly improvement the a on $X.XX the
For per on $X.XX XXXX, cost due liquids-rich during of LOE, full in operating Mcfe, XXXX, unit the and we trend other $X.XX to to which XXXX. higher and our the second more activity slightly year includes unit midstream cost guidance, half income per than reaffirm anticipate of to focus taxes development per
for and highlighting the uplift of our $X.XX for of of is all-in cash cash-settled of hedge natural first approximately from the cash pricing asset diverse NYMEX Henry pricing $X.XX million flows. $XX including the This price demonstrating areas. marketing realized Our a of hedging hedge value differentiated our per book realized above and quarter gas realized Mcfe, to gain price, quarter, both in We was portfolio unit index our for portfolio position, liquids our impact its the the impact derivatives. the benefit Gulfport's Hub
daily before to analyst by during to guidance expectations increasing natural we per the seasonality price differentials our price Driven NYMEX low average expectations strip Mcf our better Mcf than below we pricing Our and full consensus below for was the average full year, and per natural for year $X.XX price gas hedges reaffirm to year. range. the differential compared settle negative progress NYMEX before gas end $X.XX as the the $X.XX quarter, through of hedges
front, capital $XXX.X activity to the maintenance, incurred million to land expenditures investment. completion related related totaled $XX million leasehold drilling On and and capital and
as demonstrated to industry As in toggle significant activity the later second XXXX capital spend to quarter shift program levels our capital we year, the flexibility our conditions in of certain change. by from maintained in
last position, production price With in Mcf. per play our gas approximately XX% floor to Gulfport we ability at protection our value remaining $X.XX to to believe have of day hedge base delivering natural of We since sheets price per offense our at quality pleased XXXX added natural or protecting swap both totaling update defense covering per fortifying collar position scale natural its our an currently have to an balance shareholders and contracts during in pressured XXX our are and slightly average their played near-term and gas Mcf. hedge differentiates feet We've million XXXX to while floor for of of current book hedge their downside respect average $X.XX gas others approximately the dividends. XXXX cubic
ahead and we natural days fixed for cost allows commodity gas our and hedge brighter are based trend. believe to prices as to low our into XXXX, further flex where We are us expected XXXX move position upon structure
our As allow Mcf. have in upside gas hedges above utilized half to per well prices that XXXX of for participate and to maintain us collar such, XXXX we currently structures and in significant prices natural $X nearly XXXX downside
and XXXX risk at we points addition natural providing at our locked XX% our our similar remaining FT a mitigation, security the nice portfolio offers. exposure levels, diverse of have basis front, the base locked in to XXXX On exposure in in have gas of pricing our sales basis over anticipated largest of
in in hedge we uncertain. positive will in confident share free improvement in substantial gas is a for the not derivative the I our Due at February, testament acquisitions project position, that generate our Henry mentioned will also free is cash below flow natural as per XXXX premium while more MMBtu weakness are call to company capital XXXX. And far costs in or before position, than the cash to operating adjusted efficiencies repurchases, $X generate only This and the we others that in Gulfport today. markets well on are gas adjusted that lowering natural the focus but prices more our offsetting Hub advantage flow
balance Turning sheet. to our
reduce of $X.X leverage financial Our net of remains $XXX XX-month of cash cash reaffirmed million recently and March billion, -- borrowing $XX exiting commitments borrowing borrowing lender and trailing base $XX totaling a of very we utilized We X.Xx completed liquidity flow borrowings availability lenders unanimously March facility and million XXXX. spring and comprised our by remaining to debt quarter the of our absolute credit position elected as XX, million outstanding with of base as of million. under the quarter $XXX our with our had $X.X base XXXX. of redetermination, during strong our We currently first revolving the our million, million XX, $XXX.X at
than tremendous perspective allow as is the needs stakeholders. financial to flexibility for Our more might give value liquidity prices low to our provides have development sufficient should any positioned to forward dislocations today for opportunistic and going be foreseeable capture we future a we are from that fund us to rise
repurchase XX,XXX during a common quarter, common the at slight repurchased continue opportunity. to us totaling block stock allocation discount We without repurchases and allowed shares which a price unrecognized approximately market of as million, direct shares public share one approximately stock the which first And for $XX.X a view float. our compelling our of large capital of equity our we XXX,XXX from value largest capture negatively impacting to of to shareholders, a includes
have currently of continue plan to and shareholders excluding million of X.X flow future. average common the lowering availability $XXX acquisitions $XX.XX, our of share price million program foreseeable approximately share million our of more of by share XX, all through had repurchases, share XX% stock approximately a repurchased at below share average $XXX As substantially than at to our an return common current XX% price We the weighted cash price. shares under free our for April count adjusted to repurchase approximately we
we strong business significant is hedge a balance provides to solid In summary, program significant continued robust our results we value highlight margins healthy and continue a as operational to off position, first in start, quarter and strength of XXXX. volatile commodity flexibility the navigate shareholders deliver improvements, This our our sheet our as to year's cash environment.
turn the up call that, the for With to the over I back will questions. call open to operator
