your We Thank in excellent quarter operational Jennifer. Good and enjoyed you you, year-to-date. afternoon, and have SM a had for Energy. performance terrific second thank interest
our successfully managing portfolio a very have also top-tier We strong been expanding while balance sheet.
objective our I'll Slide to portfolio breakevens. progress making our on speak start high-quality Every year. we the I core expand quarter, X. for with Turning to objectives our to with are low
to in that XX,XXX XCL Today, are referred acquisition with we announced acres we the including Utah, net content of XCL net $XX in acres XX,XXX locations. core Uinta oil exercising production estimate to the our to of of approximately option adding are the Altamont Combined for acquire XX,XXX and we adjacent approximately high window Basin, XXX per as commonly net the million. acquisition the BOE day oil initial overpressured an acquisition,
PDP preliminary per million NAV. on financial at including based we This location per paid around our $X.XX metrics, Assuming per including highly day, accretive $XX,XXX is to Altamont. accounts, BOE valued
of with Second. on demonstrating the about exceeded midpoint per day execution. by operational Production core BOE objective higher performance X,XXX successfully content, focus oil guidance our to
to and turned deeper in a than addition, more this Basin with about wells very that are test acres the add Midland we net in the pleased potential In results line More our Barnett first minute. XX,XXX in Woodford formation. in early prospective and
X the million quarter returned million return our approximately stockholders. is of $XX in and, objective sustainable We second with capital. more core third than dividend, repurchased The in to combination shares
through XX% quarterly reloaded $X.XX increase XXXX. an share, million authorization repurchase dividend authorized and to to the $XXX Board Our the share per in
positioned years. are program to the of capital return continue in we our So coming
outstanding and a I'd results. thank of hard successful very everyone and for team like work lot the SM It Energy was to a quarter, on
Let's look at behind these highlights. some details
Slide past X. XCL, with added our locations preliminarily Starting Texas Peck have high-quality and over have and expanding plus, the And the portfolio, the year nearly XCL core South to Sweetie we that's scale Altamont extension, Klondike, Turning summing acres, drill-to-earn added Altamont added significant drilling this XXX acreage, in we beginning. more XX,XXX and from is XX% alone. acquisitions, than net just extension, growth
and includes bottom a your time X. closing for effective The of we October anticipate an reference. have chart X the Uinta pending line The date of acquisitions approvals, May
X Turning to now Slide and Uinta the Basin.
bar scenario, our X-plus key creation, in including to met versus assets estimated and stand-alone listed at Xx less all all our for These value the top-tier than high-quality our preliminary projected compete the here Altamont, metrics inventory acquisitions will production by on left have a years, are increase to a acquisitions evaluating purchase adjusted very side. ensure immediately XX% high a financial accretive EBITDAX extend oil Uinta contribution. estimates XXXX for of We strategic and of capital, objectives XXXX on price
slide when differential XCL the this announced and to acquisition about again showing upside team. on we I'm and expected showed of assets quality it Slide by potential that more and the X. XCL with Continuing the is Uinta of the We engineering our the the acquisition, reiterate geosciences
normalized demonstrating South lower competitive to returns. into in average Uinta the These Texas, both cubes cumulative oil performance Midland competitive lateral compares Uinta The from cube oil that and average cumulative production upper charts graph of production comparisons the the Uinta on and performance left show well translates length. of SM's based performance in
look cube. and in the this of prospectivity including Tim demonstrating And cubes the homework We here. top production impressed the oil the basins We this did of prolific the asset. in say, results performance the develop agree. highlights as this is as the by and [ Uinta to agrees stacked Let to into rock quoted upper of we Uinta, Resident me that of Uinta acknowledge oil The right-side away research value "We to graph play. compares some a sufficient Again, just forward the did the come believe further quality pay the quality ] industry. area our overall data cumulative there points both we Uinta." are
the on Midland Slide Basin on to X. Moving
for the Greater We been time our about added lift have area some we as Sweetie tight in activity Peck acreage.
production just in we first wells Woodford pleased are peak report our area data to data public, that is IPXX. Now that reached the related test Barnett to today early
results with first lengths in Our X,XXX-foot left the peers per compare IPXX, area. results averaging shorter IPXX The averaging day lateral, compares graph initial per peak the and reaching reaching peak lateral to lateral XX,XXX-foot BOE BOE a to These X one results normalized formation. on initial tests have XXX the wells favorably day. based same impressive in on X,XXX these peer
our peer confidence net on Based wells more have greater the Barnett than in perspective acres believe the this the of surrounding and we wells acreage, Sweetie new existing in Woodford our position Peck XX,XXX X formation. prospectivity have and in may
Moving Austin at Again, in the looking compares the normalized our to Basin of Energy the production Chalk oil XX,XXX-foot area wells. Midland SM laterals. now performance of underscores Texas cumulative high to to South peers, the that X. wells performance the I superior both we of liquids This updated slide Slide and SM
XX% than SM remains average Midland average. in performance better peer about the well
we to average. the comparable oil codevelop, are returns. Austin better we zones. leading similar, Same And averages for is Chalk reminder, a multiple as As for include well curves Midland Chalk and out, cumulative the SM pointed Austin XX% our which have so on performance,
Slide XX. to the Chalk on specifically Austin Turning
quarter. spacing. fourth to the C wells new forward in expected the tests Chalk we and Briscoe upside, bounded New and fully including very strong look to the continue results spacing acreage positive Austin tests continue performance, provide at Outperformance drill-to-earn in in XXX-foot
emphasizes Chalk is with from Austin inventory." the line pilot potential in and could conservatively tests, C offsets XX locations spaced Enverus existing to performing here over quotation spacing our spacing the "SM's more successful in from add Briscoe upside The saying,
the the summary, outstanding acquisition as performance our pending substantial for of of an of scale Midland scale, of continued half year-to-date, exciting adds in combination of positioned a we the and well terms flow expansion cash that as in assets performance and and enhanced great Uinta strong production, second and XXXX, are inventory close Texas, XXXX. In South
all hitting truly are on We cylinders.
I'll Wade? results now it recent over financing activity. Wade financial to turn discuss and to
