Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
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| Overall, we can see strong performance from this field |
| With the breakdown of the price correlation among commodities and the outsized effect of regionalized pricing, having exposure to multiple commodities in multiple markets has proven superior, to the pure play, single-basin, single-commodity strategy of the past |
| In building this base, our balance sheet has remained rock solid, and we've had no material dilution |
| Plus, we've got this fantastic team here, which I would be remiss in not mentioning now has Kelly Beatty as our Chief Accounting Officer |
| So I mean, ultimately, we have a very solid estimate, for what the reduced purchase price will be |
| We have a track record of paying dividends with stronger yields than the S&P 500 and our peers, returning cash to shareholders of over $3.33 per share over the last 10 years |
| The SCOOP/STACK acquisitions that we expect to close, I think next week, I think we're going to have some of the strongest production we've really ever had |
| Even though it is early in the cleanup process, we are encouraged by its performance |
| We view this as crucial to enhancing our ability to credibly maintain or increase production, at an attractive rate of return, for years to come |
| As mentioned on the last earnings call, we brought on two new infill wells at Delhi and are very pleased with the results, and hope to see more future proposed locations |
| The heat exchanger installed last year performed very well, during the recent pull of war-tank that hit Northern Louisiana, and we did not experience any cold weather interruptions at the plant |
| Largely in the past to maintain, or increase production, we needed to be in an acquisition market that, had more favorable trade winds, which by the way, we have a terrific record of doing that |
| I mean, I'll tell you, here at Evolution, we're really excited about what we have going on |
| And our recent successes at Delhi and our Williston Puds |
| It should absolutely, we think it will have a positive effect on the differentials for Hamilton Dome |
| Delhi production increased, despite more downtime than expected at the NGL plant |
| This asset is a perfect fit for our evolving strategy of both adding on long life production based on current commodity pricing during the downswings and adding undeveloped locations by making acquisitions through the drill business |
| So, yes, we're happy here and I appreciate everyone joining us on the call today |
| So anyway, we're excited about that |
| We are building our company, into one which can cover our dividend, and our capital spending in a much lower commodity price environment, like we see today, while maintaining ample capacity to return cash to shareholders |
| And obviously with what's going on at Chaveroo with the exciting drilling program there and the hundreds of low working interest upside SCOOP/STACK locations |
| John White Yes, so it's good to see Chaveroo going well |
| So, I'd say the reaction time of that was pretty good |
| So that was great |
| These six major transactions have added oil, natural gas and NGLs, all of which gain us exposure into different, largely uncorrelated markets, both by product and locations, many of which recently have experienced outsized favorable pricing versus other sales points |
| We have built and continue to build a diverse, resilient set of assets strategically designed to facilitate and complement our consistent approach to returning cash to shareholders |
| So, while our methods to execute our strategy have evolved and will continue to be enhanced, our goal remains the same as it has been since 2013, the year we paid our first of 41 and counting consecutive dividends |
| But we are - we're excited with what we have here Jeff Robertson Great |
| We now have some really significant investment flexibility |
| At Evolution, we accomplish our strategy of maximizing total shareholder returns, by carefully weighing the use of every dollar we put to work, for all of our stakeholders, always with an eye towards increasing, or extending the runway of our dividend for many years to come |
| Statement |
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| I think actually at the Bakken, kind of almost shockingly, but it was only, I think, for a couple of days, but like statewide Bakken production fell like 50% for a couple of days, because the freeze was so bad and effected the LNG processing, I think, or something |
| Earnings per share was also negatively impacted by $0.01 |
| In past years, one of the problems that has been in the Barnett is, they were unable to get production back on as fast, but this time they got everything back on really quickly |
| And so, you got this like excess Canadian production that's actually seems like it's put some downward pressure on the regional pricing in North Dakota |
| For our Williston Basin assets, production was impacted by reduced gas sales due to the ONEOK Grassland System being shut down for almost three weeks and down time of a few wells in November |
| At our Barnett asset, although inlet continued to experience issues with some of the gathering facilities, production was not significantly impacted and production for the Barnett has flattened back, to its normal historical decline rate |
| So in mid-January there was some fairly severe winter freeze weather conditions that hit North Dakota and also Texas and Louisiana |
| These adjustments affected the top line and therefore reduced revenue, net income before taxes and adjusted EBITDA, each by approximately $500,000 |
| We plan to remain below our leverage target of one times pro forma EBITDA |
| But now we're seeing sort of just the opposite, where that capacity was expected to come online? So the producers in Alberta started ramping production, but then that pipeline capacity got delayed |
| So, I think there's only upside potential with that |
| Then there was, I think, a mile and a half section, where I think they ran into some First Nations issue, which caused a delay |
| So yes, our Williston differential was affected this quarter a little bit versus past quarters |
| I don't think they were as extreme as some maybe we've seen in the past, but there were, Reuters and some other, outlets talking about impacts |
| At the Hamilton Dome field, our current quarter production was affected somewhat by well work, but we expected all these wells to be back online during our fiscal third quarter |
| An actually, this year the winter storm, like that you're referring to it was - it didn't affect us as much as the winter storms have in the past |
| Negatively impacting this quarter, were approximately $500,000 adjustments related to ownership updates, received from the operator over Barnett properties covering a 22-month period beginning in September, 2021 |
| Hopefully that's not too confusing |
| I can't think of anything negative that would happen because of it |
| So, I just want to acknowledge my error there |
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