Ann: Third Quarter 2018 Earnings Release, page-9

suggest reading and studying
Earnings Call Transcript

Particularly interesting is the commentary and subsequent Q&A.

e.g.
what they are trying to do: "continue growing net asset value and cash flow per share"

their hedging strategy: "hedge position that's protecting our committed capital spend and will keep our production and cash flow growth on track with our expectations ...  generally hedging 1 quarter ahead ...  we've hedged 100% of the expected production wedge from the following -- for the next quarter."

their returns (what do they mean by that term and what metric) : "Tier 1 means we generate better than 25% rate on return on the drilling capital, and the non-Tier 1 locations generate between a 10% and a 25% rate of return"

Gives you a chance to figure out the decline from existing production, the capital SEA requires to maintain production rates (and ergo capital efficiency) plus I guess you can mull over what type of return on equity you are getting when all-in costs are fully considered.

As always GFTA