CHK - Earnings call transcript Q2 2024 | Expand Energy Corporation

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Operator

Good morning, and welcome to the Chesapeake Energy Corporation Second Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference to Chris Ayres, VP of Investor Relations and Treasurer. Please go ahead.

Chris Ayres

Thank you. Good morning, everyone, and thank you for joining our call to discuss Chesapeake's Second Quarter 2024 financial and operating results. chance presentation our website we a the release yesterday. had investor updated posted you've to press review and Hopefully, to our

actual which that factors place and may in update existing Please including a information, to peers. During making from law, to identified and periods regarding such reliance undue our results refer discussed we as cannot we in statements. call, expectations, statements will recognize also applicable and our confirmed consist forecasts, statements. number our across the and goals, statements, non-GAAP underlying projections with be some to to duty this not press are that no any will performance release on materially such of forward-looking of note other statements, reference measures, yesterday will filings. Please except by and cause which there undertake beliefs, by statements, factors statements SEC as future and morning's We comparisons help differ required that should also forward-looking forward-looking be facilitate assumptions you

on any call Dell'Osso, measure Josh For teleconference of our Nick reconciliation we'll up which Q&A. me then can are open use to today be will the non-GAAP to found a a Mohit website. With our Singh GAAP brief overview nearest Nick on the we and give measure, Viets. the results, and

over to So with time that, thank now Nick. the you again turn and I'll

Domenic Dell'Osso

you Thank for today. morning. Good us joining

achieving is breakevens. X we working. provide focused reductions further be unpredictable in conditions to will greatest recover. Today, when we flexibility elements and that We First, are our level in capital manage with are business: on of our strategy we results, improving durable costs believe reducing pleased the are and costs, prices operating meaningful which designed to quarterly primarily demonstrate key our which market improvements And of efficiency

have Marcellus recognized XXXX. performance drilling in We improvement since a XX%

day drilling our quarter length lower with by in quarter. owned to operational as over drilled optimizing decrease steadily nearly is by disposal lateral by third feet the vendors increasing and value length sustainable the capital to respectively. of the in last million by decrease to partnerships Haynesville, us continue our remains improvement as over X since expense increase deflation, our team achieved saltwater the years year per to to assets, per years. of deflation. is approximately The XX% lower X%, all year. the strategic Lowering wells $XX feet approximately cost gas. affordable as recognize lateral with supplied the second well X and guidance Combined, natural In average well and have critical cost this full to breakeven market the X,XXX last a of utilization our We and increasing by due to shareholders barrel production and This allowed these costs the the drilling ensuring delivering production growing evidenced efforts last routes, in improvements combined dividends, in pay a by expense XX% XX% pace,

expect We positions. Haynesville continue Marcellus which durable will savings improve the to cycles, be strength our and competitiveness of recognized through majority of and will the only

of have available capacity DUCs. By the maintaining up XX we first built day to XX productive conditions. of flexibility to the have when meet warrant. demand to a Second, market Bcf production to Through deferred and X match half we TILs year-end, conditions year, expect

weaker volumes In as pricing during and the we are necessary completions, to spring the proactively fall. in to curtailed deferral and prepared of again addition do shoulder months TILs so the

pace with market and the conditions dictating our activating in of disciplined approach. be will timing capacity the We deferred

and inherent flexibility limited a gas capital market. demand the We to speed volumes recovers, needed provide when advantage provides, competitive are will the distinct bring confident this given natural and to strategy it

Finally, planned our growing. we deliver is confidence and our in pending only ability with the to focused are synergies on merger Southwestern, our

are has efforts the the close unlock extremely We the of than we creativity to We consumers time overall achieved either the on that of using focus deal assets synergies shareholders. the I establish business talent, to planning openness the and greater the the company. have to in strength X integration benefit as what organizations together extended our of as which at a announcement half identified the the once delivering merger, we between seeing both power our closing closes, with could expect seek for year. of organizations on of we can can look better a our fully signing have and to impressed forward back more been achieve and stand-alone and and we and

poised Operator, forward like Our I working efficient for update you'd are with we on the to our the at lower move assemble natural as affordable, to pleased reliable, the long-term look your needs continuing the price. to remains diligently answer energy the to to our demand consumer outlook is most meet questions. world if gas, progress now strong, and pro to forma company through we you carbon merged Southwestern year. We're queue. ensure

Operator

Truist. Our from Instructions] question Donnes first will [Operator Bert come with

Bertrand Donnes

Or at out we've let up assuming listen, I'm your of kind you'd and Is you to below market bring would the 'XX the it activity, it dynamics? about you to deferred coat point, that? price improving levels? that of the wanted go, one think tangible does you kind And our do move just clarify hang strategy qualify as the I part. on XQ Or guidance you then go done be how level need production when supply/demand? Does at? On production. rock-bottom maybe where

Domenic Dell'Osso

on the demand Price signal, Yes, -- do signal, pay underlying to price supply a attention both the prices see we questions. we is more and a Look, are but lot great a those nothing just we fact, than do and underbuying in signal. price.

the well. improve. terms as in want activity, But to of underlying bringing that to fundamentals deferred the attention pay will we on So see we

bottom great exact the see the guess overall production, positive. setting while day see we that it could or are to. I for quarter as we the predicting far we level pretty the at dynamics fall of will are up improving improve, market things As us aren't

period flexibility. because are it capital those So We're And we're continued our to and us we time. of TILs if now would program, some about are and to reducing that longer going that. a a to face much, slow at down don't worried the your happy how building it that just capital lot into and and you I too point, prudent think DUCs DUCs manage continue we'll volumes by operational decision. with gives be not details building we of our we be much

But That So we'll right monitor would continue that. where what now, to be we're with are think comfortable pretty we're doing. doing about how this. we we would

Bertrand Donnes

about cycle contract? meter you deals. LNG become for to Makes to Do lot a contract to way quarter where the thinking behind since here too your in sense. And one, to center and people about more you the talking you few transcript data I'm announced data think early a story just words this is or then try you get is developments that? guys with you it start of times. help a Or center some catalyst-driven for maybe out been announced going going last the the second an a and There's

Domenic Dell'Osso

to start of recognizing job market for is going talking tech that of from. doing it. borrow into you here an early barred all I this people that obvious some to fact to whether a you companies that talk of have electricity quite come an for utilities. economy out we ] There's it's if about consider choice. time. going and electricity we of underforecasted gas And growing. demand to growing, they been things together. us element imagine a you And underappreciated And -- excited when know the to it's the to we're start We're figure to how regular some where or a don't be is be thinking fuel think on will the to basis, really pretty And [ better to all about answer work is natural about demand the is that's would

back the the data generators, to the for generation. technology need then with electricity fuel You back of starting to providers, bring the together the to users

together. lot together ready all around accomplish, of because world a X there's have what of demand, going it's X And the be that those to Not clear. solutions thing are is environment we would through discussing are going all a so super easy and that to pieces And be work to challenges fulfill. come need those what We're challenges answers but of to therefore, All right all not X around have going perfectly elements elements to work are to actively now. are, one say, I every single regulatory geography, infrastructure. are to the going to -- to

a for yes, But think an little of trend supply important on point it's the it. I So or think in just of there's really fundamentals probably announcement, isn't business. opportunity focused term. opportunities, We're just catalyst I all think the a it's that the created a more and and be But we think potential nearer which LNG on are I we the as a as catalyst our exciting are company. for it overall means with what could that our singular contract demand

Operator

with Leggate will question come next Wolfe Our Doug Research. from

Douglas George Blyth Leggate

very observed many really to to at be still the your was the wondering times, know all opine stuff. $XXX risk able that on I Nick, extent it on if The point process, that have which terms rambling in But this Southwestern whether is that just you could running full high dig days deep I'm obviously the the What drill. million been drilling number? efficiency, of potential, on you've thinking fluid as FTC to on. is fact good loadings, you to

Domenic Dell'Osso

is a that well. uses, to the achieved, are feel fluid think, good confident longer follows, feel of I loading that processes achieving looking when There every helps the from And day. use trying we like systems -- of opportunities company things size. bring of in the of mentality we're integration, of each IT Well, that hard many on us we of philosophies the together that are to really of we've each everything the over number company at you We a integration. together we period do. reach. are that plan We're a last to that synergy believe really number forward. is that about companies lot both teams working going number. working there derisking the a -- time that this months by for our think, on that true integration, optimize what best the brings best really X of within organizations can both well And And this NewCo

to working deliver beyond And expect that point. sure. on We keep for to expect that we then

think We thereafter. announce obviously, represents. So that and close you'd love deal -- it to we're what immediately excited about all of the

so wouldn't wished we but the for delay, time. best And have making of this this absolutely we're

Douglas George Blyth Leggate

Okay.

on that, So maybe to an expect synergies part the quick on would a closing update give to or B no? you

Domenic Dell'Osso

think achieving sure. I on how think them we give about we'll an and for timing update

Douglas George Blyth Leggate

the and on going Okay. so try me know All last missed right. follow-up, earnings call, I one. My you this I'm to

dividend balance that the sheet variable was this quarter. first your in announced out you Your paid quarter

impact Can inheriting free curve closes. really with versus after where give the balance the cash context a your combined the deal You're in no plays of dealing prioritize to where that of cash lot transitory allocation I valuation. distribution whether as some going forward has your say, this us you're sheet thought of out assuming to on debt, flow assuming you

Domenic Dell'Osso

Yes.

a considering Doug, But to into company constructively and continue will are framework. incorporate our that to all that going that, pro debt. about return reduction We're think framework. absolutely like clearly, framework, forma return we in return We of

than day to going needs going close, about talk less we're work X we debt we that's have to And play But will we so to the close. when And once how can out. that. through more company it

we'll into Mohit, probably take things so add And has to that consideration. here. some

Mohit Singh

voice good Doug, to Yes, your it's again. hear

our components And will are to for back a it. is $X.X closes. Just of would obviously, the about shareholders of we done it, done the in to to since it, to of identified bit have that the more us addition plans base transaction be we you extremely we the dividend add too step what dividend variable leverage a you to take when We've once we XXXX. from Nick billion proud little that. do -- when It's recognize what talk one closing. said, as We've have early the post buybacks. We returned

details right But at will some some around the of shareholder details We that. around time, more our of And unwavering. from side share the returns all remains the share that. more we'll to commitment

Operator

Our next question will Goldman with Sachs. Neil Mehta come from

Neil Mehta

of seeing, has mid-cycle you about and past? Yes. XX% Maybe deflationary cost XXX talking think a that changed the the can time number. that as anything deflation called some -- lower trends you've out the gains in Nick you some you And think you you're view the spoken that efficiency about around spend to structure,

Josh Viets

Neil, that this of Josh. question. part is I'll the take first

If have pretty between largely fourth softening you into course, last of we've the just look driven significant reduction maybe And of of by service we gas around XX% a quarter that's back continual in Haynesville. a the seen year, seen rigs reduction Appalachia and pricing.

we we've advantage is in that. seen about single The that to the incredibly will safety high a be we've vendors probably cultures, focused of say type service say, I that I Marcellus going our thoughtful are so strong trying of how think in take been on performance. value really about the XX%. deflation. to And that, be going of above though, ticks driving digits to around We couple would partners. Haynesville, we're

this And going But little would always this of we services. year back that awful so about little expect sense. bit as makes we more of the look to moderate starts as into taking say think just half are think year We that long we a And would as exit get XXXX, I in to next I weakness then we specific some XXXX. we're pricing and lowest provider. I anticipating think ahead, on I an cost be don't term bit just the careful lot to a

Neil Mehta

And follow-up And out around Golden Freeport into the you the push things Pass, how ramp? call some just of fit depending XX, got clearly, Chesapeake multiyear it? how a then LNG big U.S. at love It's We've like we ramp LNG your Bcf it. it, the be on the perspective story. ahead, on does seen for volatility would outlook your just XX and on look perspective

Domenic Dell'Osso

be multiyear see us how still at important shortage positioned We're a gas. we time we're gas about remains LNG of demand domestic that for market, to increase of for gas The world ramp really big of the part a into the our value market growing we'll as a on same source Yes. and very result deliver into natural that recognizing and of energy deliver excited front the U.S. to supply LNG. be and that that of solving going in well short is

than So of United lot the own gas of of it company resource forma States. We will a lot own in a it today. The pro anyone. more

And so excited what significant. of all think about this represents. We are we're opportunities very the

are the near those by been years projects by moving some a moving, Tellurian LNG or in seen or investing of momentum But to coming of a of in we in Driftwood that project new Haynesville. giving not recently with constructively. decades. think, our the pretty in Woodside the asset just have headlines are and lot the buying here just on there, project, some of There little and is Tellurian moving term. delays You've projects south bit months, that

of And out very front a so we're us that. fine with This playing positioned in long-term we're that for. of all dynamic well extremely is that's

Operator

next from Zach with Our come question JPMorgan. will Parham

Zachary Parham

Haynesville? detail and you maybe start prepared XQ, curtailments some online. were in the pricing prepared have that to Can that fall. volumes some During curtailments both largely prices if in just you you you were back the again Nick, to to see weak what those brought Marcellus remarks the you've local been you had recently and in the mentioned price-related perspective a from indicated curtail curtailing need would

Domenic Dell'Osso

Good an exact away you We'll on price that. from giving Zach. stay Yes, question.

the they see and prices see that back look got and low. certainly spring pretty the in can You

season pattern pretty beyond reductions our a but significant in be historical a some And repeat so of very that, volumes. any there, that thing note that's like our important historical nothing if that's pattern. we there's low modest. for magnitude. projection shoulder in consider That don't One of our in we curtail reasons more curtailment projections We have sort of is would prices then price would in volumes of to

price do that the prepared us second showing there if we're So our in which and up year, and reduce would ready if to market the us, totally significant are the of to up it's ends half that production willing curtailments showing necessary.

Josh Viets

Josh. is add just the this that dynamic. on maybe Zach, I'll little to Yes. Obviously, bit. is incredibly a market

almost so operations teams. into decision market gas And is phenomenal really teams needed -- our these marketing between look and market. our on at a do or the monitoring whether and job of points conditions day-to-day We not

we're executing And course, thing very of volume other point on decline. year, of our Bcf coming our the a our look decline think I production. through this anticipating we're would from at X.X That a offline strategy. capacity the equates just deferred QX fourth of out, we day focused TIL over from as quarter, little a demand -- capacity XX% to I operated

we're so these committed market conditions absolutely productive when to capacity improve. restore helping And

Zachary Parham

your color. operational plans. just My that Appreciate on follow-up,

You're and of you running going ahead your CapEx by deferred you're a to bit $XX year, turn-in-lines down this took build that on schedule this million DUCs quarter.

enter If continue is there ahead deferrals few run CapEx lower? more room Or move than of planned? you'd you you for with to to originally incrementally XXXX a would just schedule,

Josh Viets

exited I At to Zach. time, we're activity that the quarter in this Yes, the at. think we've committed point second levels

rigs rigs so running Marcellus. now, And Haynesville the and in right X we're the around in X

activity us, monitoring the would for point, for it's at to think we decide just before about levels further. adjust this setup I XXXX really any

kind the time, to into happy X carry XXXX. DUCs as wells point this we're at of so X incremental to And in

Operator

with Charles question next from Rice. Our will come Meade Johnson

Charles Meade

an It's to curious what, learned from But observe something from decline. optimizing PDP at and PDP quarter-over-quarter. and interesting midstream you that looking the anything, your if guys your it as base, you -- of question of managing that on on a and to this we you're it sit decline up at the natural get the close this through where decline? about pick to least inside I'm we performance perhaps wanted experiment guys from going maybe I have asset you're

Domenic Dell'Osso

Yes, Charles, great question.

I think is the a to decline thing try PDP at look this to understand. interesting year and really

PDP we looked modeling slightly working market in assets, we've back on what steeper. look back more hard decline which that But our relative underlying everything seeing suggest. that summer, again own would curtailments this think the the flat then I is have decline our Then from a has brought how decline decline have given time we we that And our QX made to seen significant up see As PDP to at exactly QX. pick had curtailments you go those out. spring, or that which is and you as outperform

on that our presentation. that see can You slide in

data. So I There see a is as for the field, base in activity with as decline little your it we it's market better. reduce doubt when you see bit the that hard the own think able no to internal be our underlying to clearly performs may

offset have less downtime from activity. You

and with gathering have little systems a function better that flow hydraulics. You bit

do the around logistics field empty tanks to and uptime better. stay is maneuvering water keep a -- job just You of better the just everything

analysts, that, sure moving the at fully a relatively the fact from is this forecasts It's when are we And through what macro decline are there that different we're we look still it, of encouraging. that's efficient, that that, but lower. bunch underlying not it's out We is year. point. like in modest. see that we at the modest. interested So incorporated it's definitely relatively And That's

Charles Meade

Or recognize really going great like. And none And question bounds Got at look, that some 'XX in the possibility? be then in to day you basis, how in I try that know again, a look you're that is you Does Bcf as is is you're say basis, about even color, -- volumes want it at I'm 'XX? -- that And X.X to on day look as maybe XQ Bcf end, going is interested on high looking a X.X you're us upper capacity. might stand-alone a stand-alone be could a what it. but a as I on day of I to Bcf on your a a mean going XXXX. a and That to that Nick. at have that of

Josh Viets

of timing think depends we lot drive goal our that. a just of ultimately say the would to the I that activate is I on as I TILs to around get in is mean, to going Yes. which communicated TILs of day is X.X these a back what which we've production, the sustaining activate to company. our stand-alone level start as Bcf past a we

And to going pace ability have would and it's though potentially production day We quicker. little activate the a ultimate be that Bcf to that we to and thoughtful reintroduce achieve. we bit about a the those accelerate we TILs that that want is dictate how so -- the level ultimately markets,

Operator

with next Our Barclays. from question come will Jiang Betty

Wei Jiang

seen we see be year-to-date? to actually volumes decline continue ask from that the Haynesville, about improvement better in Would the back. more impacting also Haynesville in-basin ] Is are where think plateau given [ that we how love the whether I then I Clearly, -- improve? here? And and that Or seen that seeing you're could we of pricing as to to how question. macro recent production on pricing. could curtail year-to-date have that's then -- we see volumes production? you a decline some wanted coming get about guess your thoughts have bit some

Domenic Dell'Osso

a start, curtailed better add Pricing spring, Betty. than today on. in little come is those Josh have here. volumes I'll bit we saw the may something back

overall for asset. our seen that production And the Haynesville flatten so out you've

go look do slide see you as you that QX we to can expect QX. night, our to presentation If declines last come from we then the at you in posted that back

we also if So same think happening but first volumes time. here, reducing began curtail during you activity that what's about at then quarter, we the

decline slope we quite saw So the initial was of steep. that the

volumes back you to which QX. flattened brought over again, can of all see for plateaued that QX has is the curtailment Now time that effect it that again, decline on, and of out picks until up underlying brings and period we've or and on lower curtailment a takes back the

where continues look at second supply see current that, turning is, underlying where we at wells market in at material number half total anticipate in don't the demand point, at look the where decline consider the we when we We we is. So this in conditions any of total is, line year the Haynesville. of that do storage

So we curtail prices We've to materially, volumes would mentioned were weaken we already. do If again. that on expect that decline continue. the now call to

So just to the we this do of underlying year of not at QX, if that decline. the pretty and of but is from think of you QX but to that can The reiterate, do underlying is gets of with decline year, material the assume and going is there we're year. the see and the the note curtailment slope that that year important to end beginning would is projections prepared do real any of our change look that the adjusted I in curtailment, this of an effect shape amount of QX to through totally that, fall, to you what if But were decline it. to QX again

Wei Jiang

helping a there that's coming anything just the in lower slide, the lower expected. on Clearly, Haynesville. perhaps sustainable you disposal in side that that's has been savings be And is saltwater the Okay. follow-up going that and seeing than mentioned in else that you're drilling [indiscernible] on a of bit could where CapEx CapEx forward? the Outside your Haynesville completion operational efficiencies

Josh Viets

or which to chillers drill we've Haynesville ] practices little late. drive the help of a costs us to bit temperatures insulated the In benefits seen drilling here sizing mud, operational to using help Yes. reduce those look continue pipe temperatures we've in months whole and manage optimizing the a [ little implemented technologies X lower. better Betty, we some new so, to improving last at

find we starting opportunities to show see continue up. really to those operations, so new to our we're improve and And results

tailwinds. we provides So some really that think

at year. In the next will that, the Haynesville, into we head which looking 'XX provide way into we which think as we source we're change exiting as also addition at additional sand in tailwind an opportunities to to 'XX,

Operator

Silverstein from with come Our next UBS. question Josh will

Joshua Silverstein

Nick, in within have Marcellus Bcf you I'm back on if bring the remains can additional year, Haynesville? to first the just what's Appalachia have you the volumes. the capacity, the week and a then flexibility back bring you wondering basis day flexibility the between sit Appalachia and Haynesville volumes next

more a you bit If could detail provide that be there, little would great.

Josh Viets

I Yes, We flexible look of that decisions absolutely we really at independent choose say would bring one area we just would another. Josh. these back first. to which remain on

So about and then plan can to as to it's as efficiently gas these teams and we when conditions really local market is that operations just market monitoring the our together out TILs needed. engineering says the working activate

be be and well So flexible we going very to one yes, we're could -- ahead on bringing basin of another.

Joshua Silverstein

time then momentum as benefits the And updated and an kind could I investment if line just wanted get to we then the of see Great. update on project, anticipated when complete well.

Mohit Singh

Josh, this is Mohit.

settled. litigation Transfer and Energy that Momentum So we was been has the very pleased that between are

extremely outcome. towards expect track -- the track, we And now and with to that of go on is back end XXXX. service project happy that So in in

they view, of So we're had yards, the project gone good. it, have from a stored reengaged expecting that back of in are kind XXXX. -- -- integrity the being the the and QX checked the date of The they in-service which in materials delivery point all all looks contractors and

remaining So the project. million of plan calls here, capital $XXX calls, as we've capital million be in terms will the for $XX that rest on the we're made of saying this year guided to of

is everything track that view. of back point So on from

question The what us. this part your of second means for around

connect was into our to why emerging we the to demand thesis the production Gulf original this the project So Coast. source in got

and now to we optionality flows Perryville. allows production it take overall flexibility you redirect thesis to in Gulfrun we flow bring have Gillis, in increased the map, service, gives go us which optionality that see to as and we remains to on appropriate. when down from have future this And that [ capacity ], intact. day the [ So at ] down And Tiger can flexibility now look a that XXX have million Haynesville is east Gillis we gives because us due to which will project we'll us to if currently of this the

Operator

Our One. Phillips from next will with Johnston come Capital question

Phillips Johnston

for or Just a the you've X It on looks quarters turned one so. wells the XX me. quick in last Upper like Marcellus to over close

get to wells to wanted Lower a the relative Just sense Marcellus? how as to are those performing

Josh Viets

the in and developing pretty the in Yes, it we've to we've so core Marcellus past, Lower documented last Philip, I as really as shows the -- on going that that it itself Marcellus is been for productive so. public Upper data focused be think sources well decade the not the or

to our expect the we But we continue to that's improve of Marcellus. to find so focused teams the overall trend continue. returns. on generating is opportunities really what And that better And remain Upper economics

do in we the lateral which so our through And you deck lengths, that today. extending that see

able hybrid well. these going a more extend Just which being using and Upper the about XX% last up to And better past as to wellbore stand-alone designs, just really we've year. in laterals on year-over-year, Marcellus with end a length talked upper could be that's specifically to relative than result coming wells drilled about the we of lateral create we're higher and to being in returns

Operator

from Citi. next and with Our Diamond final Paul come question will

Paul Diamond

XX% about in barrel. a Just X, decrease talk on SWD one quick per cost Slide

annum we of, should per million think understanding trend to investment I guess, that wanted an that Just million is $XX get of how continues.

Josh Viets

Yes.

our And gathering we that we So systems. that have of to capacity the disposal for of invest XX around for miles Today, opportunities X a day includes look in also we XX,XXX operate. about barrels continue system. to sites disposal water

us do a we've year. one the expect about excited been over we're that's to better of about utilization and continue look because it XX% reasons that. around couple the Today, utilize to run opportunities would XX% so million some years, rate. transaction of -- these And that for in we We lines we'll run to investing the of last is allows system a the site. system. at So right Southwestern to the oftentimes, by Southwestern And gathering $XX

disposal to we've to system today. help that these for to going of to exploit So we're that you preserve look all and opportunities continue rates showed types

Paul Diamond

it. follow-up. Got just one And quick

kind run about Can more how full you about well we 'XX. XX% decrease a about Should how about rate costs the and talk the then for that Or kind of talked second down? cadence? trajectory in around the a out? think $XXX Marcellus, targeting You we but playing as up the think of year in $XXX going half or of should year see in you

Josh Viets

I the mean, from $XXX noted the under Paul. you foot. for there of you in average be quarter, around would of the the just the a length peak per XX,XXX number slide, have that corresponding feet Yes, cost so second foot that's see will that why $XXX and quarter, to and lateral

around what $XXX really length XX,XXX averaging tied lateral to is anticipate And is $XXX. we an foot around that So per do average feet.

drill it And the throughout of year. so upon quarter-to-quarter based course again, attempting fluctuate teams the how the to schedule optimize will are just the

Operator

back This turn would to like for concludes Nick the Dell'Osso I our remarks. conference over question-and-answer session. to closing any

Domenic Dell'Osso

merger, the point on our Thanks closing if market forward gas follow-up any the the time progress very second of have in second appreciate the much. you for and begins that, of through in of which questions natural as look well to us, well our to anticipate in forward There's you all much. of the improve. really We're the year obviously, time to Investor everybody's half the throughout as updating We're our group we we the move going year. which very Thanks be today. the Relations be to to forward I will year as available and we front we today. at look we all catalysts half looking really positioned

Operator

conference now for today's has presentation. attending you The concluded. Thank

disconnect. now may You

Expand Energy (EXE) 30 Jul 242024 Q2 Earnings call transcript