Earnings Call Excerpt
Delta Petroleum Corp. (DPTR)
Q4 2008 Earnings Call
March 3, 2009 12:00 pm ET
Executives
Broc Richardson – Vice President, Corporate Development and Investor Relations
Roger Parker – Chairman and Chief Executive Officer
John Wallace – President and Chief Operating Officer
Kevin Nanke – Treasurer and Chief Financial Officer
Ted Freedman – General Counsel
Analysts
Thomas Gardner – Simmons & Company
Joseph Magner – Tristone Capital
Crystal Choi – Raymond James
Jin Lu – JP Morgan
David Tameron – Wachovia Capital Markets
Shannon Nome – Deutsche Bank Securities
Greg Brody – JP Morgan
Presentation
Operator
Welcome to the Delta Petroleum Corporation 2008 year end and fourth quarter earnings conference and webcast. (Operator Instructions). Please note this conference is being recorded. Now, I would like to turn the conference over to Broc Richardson, Vice President Corporate Development and Investor Relations. Mr. Richardson, please go ahead.
Broc Richardson
Before we begin, I would like to remind you that we are conducting this call under Safe Harbor and this conference call will include projections and other forward-looking statements within the meaning of the Federal Securities Laws and are intended to be covered by the Safe Harbor's credited there by.
In that regard, you are referred to the cautionary statement displayed on Delta's website, which is incorporated by reference to the information provided on this call.
Further, the Securities and Exchange Commission permits oil and gas companies in their filings with the SEC to disclose only proved reserves that the company has demonstrated by actual production or conclusive formation tests to be economically and legally perusable under existing economic and operated conditions.
Delta may use certain terms in the conference call that the SEC's guidelines strictly prohibit us from including in the filings with the SEC. Investors are urged to consider closely the oil and gas disclosures in Delta's Form 10-K for fiscal year end December 31, 2008 as updated by subsequent periodic and current reports on Forms 10-Q and 8-K respectively.
Today’s participants from Delta are Roger Parker the Chairman and Chief Executive Officer, John Wallace President and Chief Operating Officer, Kevin Nanke Treasurer and Chief Financial Officer, and Ted Freedman our General Counsel.
With that, I’ll turn the conference call over to Mr. Parker.
Roger Parker
Yesterday, Delta Petroleum reported its 2008 financial and operating results. Operationally 2008 proved to be a year of significant reserve and production growth, as well as record revenue in EBITDAX. We reported proved reserves of over 884 bcf equivalent up 135% from year end 2007 and up 35% from the unaudited proved reserves reported as recently as September 30, 2008.
- To read the full transcript on Seeking Alpha, click here »
