Thank you, Good morning Kevin. everyone.
with day performance delivered on to start reduction. thrilled today in great this the us I are improved will by we're highlighted strong XXXX. exciting very and another highlights but to cycle cover off Permian have continued We my later quarter in times a debt We Callon. quarter you first for remarks, of
and value high assets integrated development compete we complements more time Permian my us within spend will existing the most focus of model per accretive net for put, seamlessly transaction Delaware day and as and these transformative the into in broader position discussing Boe I'll portfolio. of a where quality XXX,XXX operator with adding Delaware deal proven of a positions today It acres great our and us. solidifies production. our Permian is have in our be leading this Callon's our Simply immediately Basin. It's than with and contiguous fit capital will for history XXX,XXX and
$XXX credit million of be our funded of transactions The Eagle in be for will the leverage with approximately upfront $XXX accretive transaction our metrics. The and Ford cash sale a position cash. portion totaling to million will absolute
sheet balance program milestone, and closing. to reduction strength our buyback share launch achieves debt upon initial us Our allowing a
through per of deal production assets to more of and adding from We're barrels equivalent that acreage. oil about acres of our some Let's XX,XXX day sit tick oil highlights. Delaware XX,XXX core the contiguous net
We locations. are gaining operations. footprint our Permian decade-long opportunities high critical This for This of our extends the of a further scale. will create larger improvements efficiency increasing and Permian in capital economies inventory oil-weighted drilling mass of deal return, and the
locations, a adding operated, $XX of lateral have We at which positive are XX% long XX PV-XX oil.
sustained model. Field" These position acreage A the locations by Horizons well-established deeper B Midland Bone Delaware proven, driven our both Wolfcamp productivity application "Life up with perfectly Wolfcamp zones. model. benefits Stack our This Third co-development of potential are the earnings of intervals the and this with base in Basins are asset Pay across in additional sets Shale, well shallower deck and highlights and Today's contiguous in both that
lower and margins These a similar transactions due our oil-weighting forma per Loe will to operating improve Boe. pro
full also prices. in the year way at synergies, and annual and the of also a flow Eagle XXXX, flow the key adjusted and have metrics, integration to This to recent we strip and per savings free share other is improves million in of XX% efficient in including is after commodity are XX% uplift We asset. It an find increase financial and XX% XXXX. by XX% cash free XXXX at XXXX us than deal that for in through integration to saving identified highly and a accretive Ford in cash priced a will more opportunities times cost $XX G&A right EBITDA provides confident X.X exit
even improve Callon's further $XX.XX to of opportunity the VWAP to closing. XX-day has extent issued repurchases, at decreases the is before accretion since parties the the shares that selling number share metric above to share Per
significant And and This in importantly, will the scheduling cost conversion times. hundred capital will yield gains we'll company. a investment economics, our focus Permian. will free of increase with more line, generate cash reduce on bottom percent cycle flexibility project rates dollars and enhanced EBITDAX free focused flow. well the and Permian a stronger as savings improve and teams The of we our Together, flow and our cash operational this reinvestment efficiency through capital the
you'll production are will despite we the From see we relatively spend, more the capital buying. that XXXX production our are forecast, current that selling lower that fact be unchanged with
grow Looking increase. to assets the rate into year-over-year acquired single-digit low XXXX, production from we a newly contributions at expect as
I'll point final on that of I this most perhaps covered culmination make and call have everything is The the important. the
our than know more a objectives our counts. XXXX. top to debt approximately there reduced be conversations, return you from $X.X initial our As us recent debt for and transactions milestone. closing, $X $XXX reducing debt billion, on both initiating by are will program, shareholder get below million Upon These billion
and in focus $X.X of We XXXX and below leverage billion will our optimal progress than continue de-leveraging see less times. one on substantial target towards to debt
Subject significantly is approved a million transactions, that which the these public We proposition, repurchase that in improved reflected market value program period. a valuation, to case for a be not Callon's by closing, will accretive forward. we buyback board over plan very has compelling two-year a moving to intrinsic creating $XXX share our believe execute
quickly from questions, let takeaways the quarter. me you Before taking your main first the give
we well. are extremely executing First,
us on in metrics. Our first operating in XXXX gives our to across were financial line key deliver quarter business and confidence results ability our plan. or better high all This
our our discipline cash generate debt adjusted We flow us on million maintaining the capital to sheet are $X strength. and in reduction. free allowing focus XXth also of balance quarter We quarter, straight for realize
of the consistently value months. over discussions is last implemented on of the model deal few and underpins our you many proposition. years, this this from and We term road quarter differentiating a five model pack. with great over into the Second, of "Life last We've Callon longer provided Field" plus co-development the it insight model had our last asset
These improvements. larger operational are owed knowledge gains and significant teams. scale, seeing sizes to are our within we deep and Third, experience project
in wells with We efficiencies, rigs per day, cycle reducing and strong are capital drilling focus single and D&C multiple on these increasing our our assume All months transactions. combined production six completion for and contribute from momentum projects. also X% are be per XXXX to forecast using Increased completion to factors up that and pumping provided We've guidance rapidly on outlook. faster, updated stages more operations materials. quarter impact And day. that XXX,XXX our crews the to simultaneous We completion second have XQ drilling times efficiency. of XXX,XXX for will updated today's guidance our over Boe production
are our results top of strong with investing and in that reducing priorities In debt. line premier assets, in and our flow closing, note cash generating year-to-date free
and structure we past new value and highly us Field" to to on and on capital solidifies allows Operationally, Similar milestone outlook. that it us operationally. a us our Permian co-development the program our launch Today's this cost and both add transaction the financially our year. are in allow acquisitions, term confident Financially, our model Permian near enhance to our acreage fits of will achieve efficiency debt focus Basin. it perfectly, share buyback significant "Life
and like operating made and an They safely Callon. exceptional And our to hard consistently have work. thank valid have job Ford their to talented finally, I'd efficiently and commitment personally done for Eagle contributions employees
This remarks. Mallorie? questions. happy We're to concludes take our now prepared your
