higher up Slide to volumes, realized February higher certainly several related had start production the prices, I’ll quarter settlements. and on shows moving This Herb. X. Yes, pre-hedge you, first the hedge Thank storm. pieces in
in provide Starting as problems largely detailed to try these of included production, with shut-in I is repercussions well reporting some our self-explanatory, supply the as storm the While chain. areas. production I’ll with think color
quarter, some wells in in were and not that completions until were impacted As were stimulated and completions in and slightly the the about originally the on turn wells to We guidance, came late for there the completions in a flowing than second more planned. fracture all flowing the lead quarter. new March net no quarter in volumes January There result, anticipate lower now than in turned-in-line second completions. XX This quarter leading delays February, in production will April. to were
we happened Therefore, to for did at in not volumes have substantial spiked. revenue quite hedge this our the up volumes gas our Regarding I which was realized reflects price don’t NGLs too This pricing, as average what elevated positions. increasing want was hedge prices paid spikes and excessive gas exceeded the by days. February. actual prices, those as $XX.XX XX% price differences, commodity which And here, generally when the the was hedge of in was the out benefits Boe in per for large the Due included the pre-hedge to prices actually month, well from but get prices unusual. production in sales offset partially XXX%. shut-in, sequentially, weeds about spot volumes deep February and
of income/expense storm. recorded operating led contracts this our was a loss is in to Other operating by items. during income to However, Other offset and unusual gain hedge line of power The other place. through income than the more structure relating this expense hedges power Texas comes the net in Again,
the drawn spring for end, liquidity. banks completed with $X.X balance at minute, and a we Turning had line base million our the million redetermination reaffirmed on we billion. $XXX X, $XXX quarter at Slide to in sheet, the Therefore, the borrowing
and S&P, that also agency, reflecting each second for lien upgraded Moody’s metrics to credit Fitch, seek generating by positive capacity. I that rating should point out note also debt were extend cash You outlook we our and secured will not ratings our did flow. improving the
Slide to X, Turning hedging.
have XX-XX% XXXX, in for of by natural of the We the production quarter hedged XX% oil hedged remainder about details gas and appendix. production of
As for we have outlook previously stated, our methodology for with aligned hedging leverage. is our
lower XXXX debt expect to to as less. So be of a forecasting percentage times down net in are hedged directionally we production EBITDAX X to you can or coming
Turning Slide guidance, X. to
first keeping As there we’ve resilient guidance. to and operations team very delays our seen before, the in reiterate, on production to completion change XXXX no impact is is track despite us to and the quarter,
have is cash contracted activity slightly of to take activity. with year this to for of objective modified Our timing free and flow, capital the advantage rates we maximize that best place in
the the crossing in over we two-thirds result, of a we in quarter turn into capital line spending in may completions scheduled first XXXX half the and XXXX. to first As year of of nearly the certain see
includes Second and quarter expenditures completions, between and the million capital will XX million $XXX XXX,XXX to Midland expected mentioned day. I earlier of Boe XXX,XXX include guidance roughly per to production in Basin, as $XXX net XX% expected about
not Eastern working Herb do March, and ahead we’ve which much wells, Chalk plots the continue to brought of and two testing in in in as on brought are our these area, Austin interest on Chalk The are great. Galvan information wells three Skipping a Galvan located zones. which XX, on high where have we wells wells new as Austin sometimes three look month. in is production, have on additional In Austin of NGL-rich. these are last which are we pads landing wells. track refer with three the partner, operations, area, different to to six the Slide are we we gas mid-April Chalk area, since we Turning indicated, and updated a terms In to XX% report to
wrap premier remain up. South the and I talk days strong early nine you results excited as it data, know data and wait too XX back about to Chalk to these looks any for of wells we very With Austin generally about preliminary report operations that, it and it’s all will new Herb excited overall. very say are I’ll from Texas wells While we Herb? very turn to about
