Jay. you, Thank
thank quarter and joining for us Good earnings you conference first XXXX call. our morning, for
My name is Officer Wilkie Colyer, and I'm of the Contango. Chief Executive
Dakan, the Roller, opportunity Joining company's company's to Officer; and release, with had Chief press statements the this statements morning non-GAAP The measures an and call. including the to Counsel. the apply are we me Chad Hopefully, you discussed Officer; McLawhorn, has on Joe Grady, through President; spoke General information company's the morning's this our acquisitions regarding last that Farley and Partners Chad Financial latest cautionary Energy Chief company's Silvertip. Operating the mid-March, we read call this on the X forward-looking time Mid-Con of in everyone
have are fully to our expectations at further underway assets. enhance and acquisitions, I'm we program is of we identified underwriting. that on our coming return RTP, savings beyond well those or these more The opportunities sets happy have digested cost in our to to that production, report above Now or returns
of investing high continued are bread acquired Energy capital via capital of programs our and These Mid-Con capital attractive in low return in butter, rates also by programs our which Pine the and have the We the deal. are year. types of assets these types we was multiple, of repeatable on-investment anticipate Tree risk, asset, at developed, projects majority reserves our prove, vast this to believe converting acquisition the end We on pipeline. of
more base of have an borrowing free our in we generate which move than thank $XXX spoke, oil partners, substantial X. and to recent helping the We is a capital and In decline the to our base borrowing group accomplishment past take prices, highly to modestly prices last low commitments the indicative all capital a million accretive environment still we we of of of of completed Contango's loan process. Since doubling the I'd spite in our resets strength both in have. May this we amendment our and in signed our service months, of agreement, to expect effective are guidance oil since completed time our old response to growth in we new, front the quality bank month addition, to increasing support we lending costs peer-leading X cash moment a In and significant continued XX for decrease during which PDP credit rate. budgeting transactions. like recent off budget have over flow is
at will position you today. was to Keep the significant in size to add is borrowing As liquidity before press our release, the additions flow environment increase, the for are to shareholders. Xx our closing of mind our for cash ongoing value pipeline. the flow us in it that to on Silvertip ourselves $XXX.X signal should total prior of further and incurring This a On to through be perspective, that in borrowing of generation our that to rich as move we this find additional would prime reserves incremental that Silvertip bank our noted free liquidity base cash we increase and amount like enhancement dilution April XX. had adjusted transaction, we still of transactions position any any and put To required that in in capitalize additional we by million augmented over will target producing to dramatic on collateral liquidity, note, base. should
our types due busier unconventional and ones, since value high than of year, longer-lived it tenor the increases targets have have right competitive seen in the was more than shape assets late never are properties. at now. modest up decline, moved prices been in in The those Contango we seen decline While to lower are largely last we market future's last potential more have the acquisition targeting, of curve than our feels we acquisition on
and In addition, negotiating assets attractive are being no in and believe will capital opportunities to contango. then private to non-natural earlier have owners higher we term our largely pursuit multiple a our intention than counterparties programs in with our runway who on on have we of be I of high able low We costs execute focus is cut prices, continue means competition at that of both cost risk, on-investment equity-backed this Thus, we long these owners. shorter mentioned typically acquire believe call. who companies
the that to the be next industry few take acquire believe years. what will we advantage billion-plus undercapitalized over opportunity woefully decline of equity private to lower also We $XX a is neglected these think assets
the for questions. invest the mean We for open we attractive capital up remain quickly to will times and others. interest Contango. assets value sheer being With in generate assets be Thank on continue aggressive we your returns us time investment makes that, for to operator, focus remain The by but patient our the for our prices opportunity in getting and of for our rather and morning much at in ultimately confident buy I on years performance measured must pursuit can because your of or come, size patient we at this how how extremely we will deploy. capital the additional line on can than our good you will certain will that
