A hydraulic system and methods for conserving energy in such system is disclosed. The hydraulic system includes a hydraulic actuator having a head end, a rod end and a piston disposed therebetween. The system also includes a pump that pumps fluid to the actuator, a first valve disposed downstream of the rod end, and a second valve disposed between the pump and the head end of the actuator. When the system is in a load overrunning condition, the second valve is partially closed to restrict the flow of a combined fluid. The combined fluid including fluid received from the pump and fluid received from the rod end of the actuator. When the system is in the light resistive load condition, the second valve is open to allow the combined fluid to flow through the second valve.