Thanks John.
on guarantees this I’m call, earnings and time name by to what’s and forward-looking statements that including quarter that regarding My related which the the is just President we as this on that apply begin, context. operations. strategic Contango. press assume may we to everybody expectations, our release to talked. believe last want and time press I press defined statements the assumptions forward-looking the color considered information not yesterday’s Before since had I statements on under that to include call. a few are company estimates, for avoid discussed appropriate XXXX are statements and priorities based the I’ll Colyer Recall company be to earnings Wilkie comments the the read assumptions fourth future Exchange our Contango’s move again in concerning results, the I’ll call. through release, everyone around this we circumstances; statements Good remind release or those and may objectives Such contain be repeating non-GAAP of measures CEO the cautionary primary earnings the last progress Securities so at the during has future and however, should the and morning welcome Contango’s performance and Commission, of are to discussion quarter morning plans, therefore and that and for in
unnecessary lease, structure our in a To our have end, first result reduced together in headcount, will cut is believe that cost office with size the of to costs we company. The align reduction better we amended and and that that’s G&A end north expected office without existing XX% month, $X.X at of operating to rate lease our the expires or is XX%. increase capabilities. negative of impact cash That once the XXXX million of run our our any
last increase quarter discussed Another hedging. was priority commitment to in our we
[indiscernible] hedged an on we year business hedges this on component balance PDP Expect to long model sheet. be and of our looking are next We allowed as as our carry debt are maximum markets to hedging currently important extent allow. layer for year on as
to The third important and shareholders capital ultimately most allocation. term priority is long
as shows which is able bolt in our near know X,XXX relation put believe adding Presentations During County, existing our to and we’ve the I our that website one-pager Pecos were can the presentation, in of willingness the QX, course, good a an we to example and find acres Northeast is Events the portfolio in when Bullseye right. on Northeast we on which you Bullseye we asset and Bullseye opportunistic asset Bullseye, refer price to is, This a to of area map to be existing our in proper. well a
of Bone our to Most focused impressive of to where this this drill from three four to both wells hope results seen area, be the capital the competitors immediate will plan the dollars zones, middle complete Wolfcamp in gross have We on and our in their part and during the in emulate our results we and Spring in year XXXX. program. area
we Our today. spudded actually being believe first later late to that I in well, the was that Iron release press spud the Snake, expect and March,
website. see and Bullseye denoted the and other Ironside drill Old definitely plan State map with wells the the those X and the on XH, Northeast year you’ll Breakthrough to complete number wells three we in on The XH this are the
recall, is right one our we the X General spend denoted and the well well as map, with will and drill on capital Bullseye, Bullseye, to the we you’ll drilled addition XH thus in in drilled year’s QX and In Paxton this American complete at well Northeast of that’s next which Hornet XH, non-op of wells We to complete Zavala in best be spent year. the Counties. is which Dimmit The CapEx plan uncompleted will two Ripper balance performers denoted but this far. X on been our a to, one later this
current We view drilling we’ve the to HBPed add inventory in development undeveloped but just continue of beyond I to wells as to what don’t unwise, so discussed. the XXXX environment expect schedule
We advisors alternatives, as the call. on continue our strategic announced work with to during last
energy asset believe we to owners and line the Contango. Contango. that, to our sustained today is low for better us current process, in gives largest and in on time leverage, Insiders weakness we Thanks ready capital options of creating and are While we align the attractive to for continue our company no be and to structure the simple value base, still in in your With interest the for your for properly markets. way I’m this advantage open early questions. there believe management take shareholders