Battalion Oil Corporation (BATL) Q3 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Battalion Oil Q3 2022 Earnings Call. As a reminder, today's conference is being recorded. Now I'll turn it over to your host, Battalion Oil Corporation's Chris Lang. You may begin. Thank you. Welcome, everyone, to our third quarter 2022 earnings call. I'd like to introduce a few of my colleagues that have joined me this morning, our Chief Executive Officer Richard Little, our Chief Financial Officer Kevin Andrews, and our Chief Operating Officer Daniel Rowling. This conference call contains forward-looking statements. For a detailed description of our disclaimer, see our earnings release issued Monday and posted on our website. This conference call also includes references to certain non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most directly comparable measure under GAAP are contained in our earnings announcement released Monday. We have also published an investor presentation, which may be found on our website and may be referenced during this webcast. Now our team will begin with a few scripted remarks followed by Q&A. At this time, I'd like to turn it over to Rich to begin. Thank you, Chris. And good morning to everyone joining us for our third quarter earnings call. In November of last year, we closed on a new term loan with a simple goal in mind, get the company back to development mode and start to drive meaningful growth in production and EBITDA. With the majority of our wells from this program coming on in the back half of the year, we knew this process wouldn't happen overnight. So patience would be key. Production in the first quarter declined over the fourth quarter of 2021 as we worked to bring on our first three well pad. Then in the second quarter, production rebounded nicely. Volumes from our n...