Question-and-Answer Session
Operator
Thank you, sir. (Operator instructions). The first question comes from the line of Scott Hanold with RBC Capital Markets. Please go ahead.
Scott Hanold – RBC Capital Markets
Yes, thank you, good morning.
Tracy Krohn
Good morning, Scott.
Scott Hanold – RBC Capital Markets
When you got to look at your CapEx budget and some of the wells that you're drilling I know you talked about some of this platform based activity. Can you kind of talk about how big are these prospects you're drilling right now, how many wells do you plan on drilling in total in 2009 and is that $220 million to $270 million spending plan going to basically keep production flat absent obviously, anything like Daniel Boone coming online?
Tracy Krohn
That's a pretty all encompassing question but I'll do the best I can with here. Scott, I think that as we look at targets, we don't normally publish our individual targets on a well basis, but certainly, the intent is that we'll spend enough money based on what the current price is to justify our CapEx program. With regard to that I think it is important that you note that we're front end loaded, for instance, lot of that expenditure will be in the first and second quarters as a result of Daniel Boone. We do have rigs on location now. Most of the activities associated with existing infrastructure, so those targets can vary widely from a couple Bcf to double-digit Bcf. So I don't really publish individual wells, but it's being done with an eye on what current pricing is.
Scott Hanold – RBC Capital Markets
Maybe if I can indicate it in a different way. When you look at your prospects on the shelf, can you talk about economic thresholds for what you're doing out there and with that the gas price around $4, does that stress a lot of your inventory that you look to drill?
Tracy Krohn
It certainly does. I think it does for everyone, as prices go down and come up, we will adjust that budget to what we think is the correct procedure to finish the rest of the year. I do expect that throughout the course of the year, we'll be evaluating this monthly really. We've got five rigs out there right now. Most of which we operate. And of those rigs most are associated with platforms. So I think that the ones that we have on platforms are committed to certain programs. Most of it is not variable. In terms of wells that we'll drill, we don't know exactly what that well count will be. Some of it is contingent upon success, so I'm hesitant to give out an exact well count at this point.
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