Question-and-Answer Session
Operator
(Operator Instructions) Our first question comes from the line of Sharon Lui with Wells Fargo. You may proceed.
Sharon Lui - Wells Fargo
The question refers to I guess your Elk City/Sweetwater volumes. It was like there's been a sequential decline but the NGL production remained pretty flat. Can you just provide some color on that?
Gene Dubay
Glenn, do you want to address that.
Glenn Powell
Sharon if you'll remember during the first quarter, we actually did for a partial month reject ethane, so that explains some of it. And then the other part of it is some of the volumes we have one producer on our system and that adds up to 50 million a day shut-in periodically for price, that gas is not as rich as some of our other gas on our system.
Sharon Lui - Wells Fargo
Okay. Also, just a quick question I guess on your debt balance. It looks like it didn't go down by the full $400 million from the first quarter?
Matt Jones
Yes. Sharon, we obviously we had certain uses of cash during the second quarter including $60 million that funded to CapEx budget. We spent a significant amount of money buying puts during the quarter to fulfill our strategy of having the option based to put strategy in place, so that we spent $10 million to $15 million on that portion of the strategy. We redeemed preferred units that were outstanding we had a variety of other uses of cash during the quarter.
So, the net effect of that was to leave us with a debt balance on a revolver of about $320 million at the end of the quarter. There are some quarterly fluctuations with that balance, generally we fund working capital requirements towards the end of the month and have receipts come in early to the middle part of the next month. So, the end of the quarter generally, presents effectively from a working capital point of view a high point of borrowings against the revolver.
Sharon Lui - Wells Fargo
I guess my last question is, in terms of calculating the debt covenants, does the banks use the adjusted EBITDA of 104 in the calculations?
Matt Jones
Yes, the adjusted EBITDA that we provided in the press release, the 104, with some nuances the EBITDA calculation that we use to calculate our bank covenants. And we have submitted those covenants to our banks.
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