Earnings Labs

Battalion Oil Corporation (BATL)

Q4 2015 Earnings Call· Fri, Feb 26, 2016

$3.73

+0.73%

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Transcript

Executives

Management

Mark J. Mize - Chief Financial Officer, Treasurer & Executive VP Floyd C. Wilson - Chairman & Chief Executive Officer

Operator

Operator

Good day, ladies and gentlemen, and welcome to the Halcón Resources' Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. As a reminder, this conference call may be recorded. I would now like to introduce your host for today's conference, Mark Mize, Executive Vice President and CFO. Please go ahead. Mark J. Mize - Chief Financial Officer, Treasurer & Executive VP: Okay. Thank you. Good morning. This conference call contains forward-looking statements. For a detailed description of our disclaimer, see our earnings release issued yesterday and posted on our website. Before I make a few comments on the fourth quarter and year-end results, I want to remind everyone that we have published full year 2016 guidance and an investor presentation that's posted to the website. Production for the fourth quarter averaged 41,087 barrels of oil equivalent a day, which was up slightly from the third quarter production level. For the full year, we produced 41,542 barrels of oil equivalent a day, which is within our guidance range. On the cost side, I won't go through each individual item specifically, but LOE, G&A, gathering, transportation and other were all at the low end of the guidance range that we had published, and taxes other than income was actually below the low end of our guidance range. So, overall, total operating cost adjusted for a few selected items that you can find in the press release were $17.80 per Boe, which is considerably down from the fourth quarter of last year. With respect to D&C CapEx, we incurred approximately $58 million during the fourth quarter and $320 million for the full year, which is in line with guidance and expectations. Looking forward to 2016, we expect D&C cost to be less than half of 2015 as…