Petrus Resources Ltd. (PRQ) Q2 2024 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.029 -- 00:00:04.383 Good day, and thank you for standing by. Welcome to the Petrus Resources second quarter 00:00:04.383 -- 00:00:09.917 2024 results conference call. At this time, all participants 00:00:09.917 -- 00:00:14.181 are in a listen-only mode. After the speaker's presentation, there'll be a question and 00:00:14.181 -- 00:00:18.424 answer session. To ask a question during the session, you'll need to press star 11 on 00:00:18.424 -- 00:00:23.148 your telephone. You'll then hear an automated message advising your hand is raised. 00:00:23.148 -- 00:00:26.391 To answer your question, please press star 11 again. 00:00:26.391 -- 00:00:29.511 Please be advised that today's conference is being recorded. 00:00:29.511 -- 00:00:33.252 I would now like to turn the conference over to your speaker for today, Ken. 00:00:33.252 -- 00:00:35.793 Please go ahead. 00:00:37.734 -- 00:00:41.815 Welcome to Petrus Resources 2024 Q2 Earnings 00:00:41.835 -- 00:00:46.617 Call. My name is Ken Gray, and I am the CEO of Petrus. 00:00:46.617 -- 00:00:51.939 I'm joined here by our executive team of Matthew Wong, our CFO, 00:00:51.939 -- 00:00:56.981 Matt Scandrup, COO, and Lindsay Hatcher, VP Commercial and 00:00:56.981 -- 00:00:59.361 Corporate Development. 00:00:59.397 -- 00:01:03.658 The most notable thing to me in our Q2 results is the fact that we have held production 00:01:03.658 -- 00:01:08.979 relatively flat for the past 12 months, despite reducing our capital 00:01:08.979 -- 00:01:12.999 program in response to low gas prices. 00:01:12.999 -- 00:01:16.980 Production in Q2 averaged 9,471 DOE 00:01:16.980 -- 00:01:18.660 per day. 00:01:18.660 -- 00:01:22.101 It included production added from 2.3 net 00:01:22.101 -- 00:01:27.262 wells drilled in Q1 and brought on ri...