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First Quarter Highlights: Averaged net production of approximately 1.8 bcfe per day for the quarter, of which 89% was natural gas Adjusted EBITDAX Decreased average well cost (2) to approximately $564 per lateral foot during the quarter, resulting in capital expenditures incurred of $148 million Generated $54 million of free cash flow (1) during the quarter Eliminated all debt maturities until Q2 2024 with the retirement of our Convertible Notes in March 2021 and the redemption of our Senior Notes due 2022 in April 2021 Borrowing base reaffirmed at $1.85 billion in April 2021 Reiterating annual production, free cash flow and capital guidance for 2021 (1) A non-GAAP financial measure.  See the Non-GAAP reconciliations included in this press release for the definition of, and other important information regarding, this non-GAAP financial measure.

United statesJeff fisherChris bentonAscent resources utica holdingsAscent resourcesQuarter highlightsConvertible notesSenior notesResources utica holdingsChief executive officerUtica shaleTerm liabilitiesOperating activitiesCash providedInvesting activitiesCash used