you. Thank
welcome quarter and Earnings Contango’s to morning XXXX third Call. Good
I’m is and Wilkie name the Colyer, My and President Contango. CEO of
I the Dakan, and company’s by of Financial joined Chief Development; the Joe company’s Officer. Corporate Grady, am Head Farley
has last read August, to has release, at earnings period call. statements happened cautionary regarding on to the a non-GAAP and our this forward-looking morning’s this company I hope been information say time update measures would To through early that everyone understatement. time statements had an of lot call transformative press in including the that for Contango. Since be apply this has
a our signed respectively, reserves of Will by whatsoever increased do Bullseye. raised in we’ve closed process, acquisition Those more Northeast support largest production August, numbers, assets include new than agreements by the barrel increasing equivalents reserves Since on facility any or the pro-rata into of our five-year either by led Petroleum, production. at content nonproducing and any capital and credit in Star while the liquids and subsequently not all JPMorgan; two transactions from Energy including entered and our equity reserve X.Xx, on White and way, and booked Xx the shareholder,
development Will appointed largest former corporate Farley Contango. Energy’s for hired the CEO, Goff, up shareholder, and as John company, Chairman to We we our efforts of of the Board Daken, head
and Star. the those from In work Board This is the employees Energy progress we enhanced talented our support to short, reserves, spoke. including shareholders and last Will Contango, hard and since a we we’ve and our White welcome the team lenders liquidity, flow, of at cash testament management of
Bullseye have Our very encouraging. been results from early Northeast
equivalent X,XXX day, per project Breakthrough oil Iron oil. with oil State’s XX-hour per area, While either IP have XX-hour in X,XXX was of IPXX on Snake’s equivalent barrels oil; the barrels and XX% IP an the day, well of XX% we don’t the
above our our encouraged Bullseye, and definitely Breakthrough expectations days the as Again, State Texas no in whole, highest but the history Old in Spearhead represents the three-plus-year early Bullseye are Once area. our West XXXX. Northeast our very Both online and in State a drilling come in QX, two we’re IP in position, until lease Northeast will by the Ironside Pecos obligation first wells. and have still
We warranted. will underwriting, to connection acquired value our with Petroleum White while in this to in several DUCs the allocate Star we acquisition, allocated we DUCs if DUCs, capital also those zero
area QX those in will STACK in One year. be of of completed our DUCs this
to continue important tool We view price environment. hedging in as to commodity current an risk mitigate the
acquisitions, release. the two barrels, the of press Since details find for additional in hedges can we this our closing morning’s those of layered on recent you which incremental have
year-end and oil a for through be sheet. XX% production us PDP is eligible and Our hedged for we focus as XX% XXXX. debt balance gas on XXXX, through carry year-end the long at will This as
White At I XXXX to Star right now, presentation and it’s to believe this I’d the discuss acquisitions time, Energy titled, November detail. recent website, to on like greater presentation in Will turn our
a can X, two the what of for by XX.X focus the of million proofed year-end Mexico the can our see Gulf Southern focus area million pro and of company forma at two SEC just of focus $XXX announced. but third the you for the looks as and in good pro will forma We’ll proved to a deals, we’ve Slide some these BOE overview, gives see, understanding into that areas really everybody you detail Turning company Oklahoma – where, reserves, we I proved really, here, presentation now go these of Delaware a Oklahoma, of PV-XX this, Basin. as And in three the we greater XXXX. acquisition the reserves, like as think, asset deals added
more of pro Star a looking proved proved sort right, a see of a and and bookings. of terms are those XXX% reserve nice NGLs. Slide company’s forma and now Exaro, the at mix very Turning mix, pro those Star X, Again, down the PDP, bit you White that, of to forma the PDP-only booked again, outside can being detail little percentage oil, highlight very little in reserves. on large reserve bottom Energy, net And of gas Will of We’ll then some reserves. White
reflected any year-end. And to again, we are expect numbers I of to would highlight, we that Northeast be in Bullseye which those booked able by here, have no do
and Slide to see Central North lower Cherokee XXX,XXX as can asset working over operated, XX% in net acres that X interest starting to the Oklahoma, NRI, you in focused with, Star. you acquisitions, STACK, a average go than targeted, Anadarko royalty Turning HBP, Multiple see, platform. other XX% zones it’s areas. burden XX% White many
upside effective mix Cherokee water price XX.X nice oil, over tariffs. the XX% rate million and can in you see, from $XX as $XXX.X firm midstream of QX bottom, us the – room a with, day, per purchase which Disposal cash owned there’s side, volume months cost day, platform. barrels of capacity. gas; PDNP in cash And No of production particularly, flow next think of We date, drilling and XXX,XXX per the there. net the at from so at multiple million, our XX a minimum MBOE PUDs. plenty of nice XX commitments, potential helps SWDs, commitments of of NGLs there, on asset-level highlights transaction or lot flow of
date commodity a the sort predominant the down is hydrocarbons – on area the charts with was on of acreage. pie reserves the And PDP you of as there of year-end and again, closed said, at the bar And and can as $XXX.X X. deal that or – see November million. different depicts and reserves nice X/X Cherokee on I – charts effective mix area of
hear this do is a a more of Nemaha is that that to – Cherokee the gassier Mississippian because X, little depths think this little key often maturity more which primary because west Turning which and we rich to that the And that of D&C a the and lower being west The this reservoir's in of and again, the Woodford cost, of is bit XXX more acres, Nemaha us compared net of lower. mix. contrast oil results Ridge And the thermal bit asset. then shallower production cuts Ridge, for a The to you you higher water shallower. oil and place XXX,XXX gassier is Slide Osage lower and results really percentage. water platform is that's misunderstood Mississippi in think on Shale. deeper, when the here wells. slightly higher The about section
of, So on And of typically used higher-margin north all production that's the well together, that think approximately plus Ridge, think think, when Nemaha out Mississippian being what that put the production to the Western you of side XX%. owned-SWD that's of of sort results in of there, I network Nemaha of you Ridge.
front sort line can And not the the hammering there is, sort Mississippian front runs Turning equal. Ridge to This demarcation just Slide created between that production of is I production. that all of you through that gas really Oklahoma that of Nemaha see, the home middle of and is X. oil as again, think,
of can Nemaha that As see, is platform our Cherokee Star/Contango you east Ridge. White
conjunction Sands acquisition acquired, and assets acres, prior the Turning wells. reservoirs to Cleveland position nicely are is XX,XXX Slide Anadarko X, our Star, here we Western of blocked fits nice in with The it XXX up net primary White the and Energy. Will over
operations field the because area to So are And the Western those also companies. is same neighborhood, the in consolidate we between Basin an are interesting we two Anadarko future consolidations. able for think
acquisitions. a of these there, two got we've base So net nice
the acreage, be with Meramec net in this QX Margaret potential Osage, is reservoirs in the XXX position this White ours. with XX,XXX location horizontal STACK acres DUC, which will Star's of in Primarily and and completing STACK the development wells. the of
in late acreage, Northern and upside Louisiana or Anadarko are a upside. October low-decline And on all HBPed. And Louisiana September and but Antarctica Slide Basin don't that do we XX, a to transaction but acreage have call acquisition Core certainly, asset, after Western again, long-lived Anadarko position low all of Energy, HBPed, XX. a assets the Western Western that Basin. today, with announced bunch which go but there purchase rate. A almost first can being option HBPed million, of then, October. you and was have is price early Will that closed PDP closed of potential assets lot predominantly gives we in $XX decline Basin. the see and highlights, acreage Northern very Gassier, us sort of And our
good position we the capitalize which as initiatives last continued the So we call put our the have opportunity. Contango market, a completed we've see with since in all an deterioration on in A&D view that, to
set transaction, non-natural the of in In for White ability buyer an addition a to assets a acquiring Star choice we be owner. to of a demonstrated good
afraid ultimate requirements. we Platform sellers more lease to G&A believe, the large the Contango a value. which can can assets of goal not than being shareholder efficiently rest are and in with is and most the value to overburdened places We auction, unorthodox of the such bankruptcy seek to obligation industry, We as maximize the leverage by manage
the feel competitive reasons, plenty environment. market current there current opportunities say, Well, discuss in for are to to unwilling our we pipeline do of we it is to suffice
for for interest your your morning and Thanks Contango. in time this
line With the to open operator up questions. we for are ready the
