Our record sales were driven by a 10% year-over-year increase in liquids volumes, which averaged more than 290,000 barrels per day. During the fourth quarter, approximately 70% of our crude oil volumes received waterborne pricing, resulting in an overall oil price realization of $11 per barrel above WTI. We also benefited from NGL volumes, receiving 59% of WTI pricing through our ability to access Mont Belvieu in the premium Gulf Coast markets.

These results demonstrate that our liquids-focused capital allocations are working. At year-end 2011, liquids comprised 43% of our total sales volumes, delivering an incremental 70,000 barrels per day or a 31% increase since 2008, when we began targeting liquids-rich areas of our portfolio. We plan to continue this capital allocation approach that will drive us toward higher liquids production in the years ahead.

Our fourth quarter results provide an excellent illustration of significant liquids-growth achieved in several of our core operating areas. For instance, in the Wattenberg field, which we'll talk more about momentarily, we achieved a 24% overall sales volume increase over the fourth quarter 2010, with the liquids from the field increasing at twice that rate, adding almost 13,000 barrels per day.

Comparing year-over-year gross exit rates in the Eagleford Shale, we achieved an increase of approximately 50,000 barrels per day from our TEN rig program, representing 185% growth. We remain one of the largest producers in this highly economic area with a gross production exit rate of approximately 77,000 barrels of oil equivalent per day and with liquids comprising approximately 65% of the production stream.

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