Executives
Management
Mark J. Mize - Chief Financial Officer, Treasurer & Executive VP Floyd C. Wilson - Chairman & Chief Executive Officer
Battalion Oil Corporation (BATL)
Q1 2016 Earnings Call· Tue, May 10, 2016
$3.73
+0.73%
Executives
Management
Mark J. Mize - Chief Financial Officer, Treasurer & Executive VP Floyd C. Wilson - Chairman & Chief Executive Officer
Operator
Operator
Good day, ladies and gentlemen, and welcome to the Halcón Resources First Quarter 2016 Earnings Conference Call. At this time, all participants are in a listen-only mode. As a reminder, this conference call is being recorded. I would now like to introduce your host for today's conference, Mr. Mark Mize, Executive Vice President, Chief Financial Officer and Treasurer. Sir, you may begin. Mark J. Mize - Chief Financial Officer, Treasurer & Executive VP: Okay. Thank you and good morning. This conference call contains forward-looking statements. For a detailed description of our disclaimer, see our earnings release issued yesterday and posted to our website. We've also updated our investor presentation for certain items, including some minor changes to our 2016 guidance, which has also been posted to our website. Production for the first quarter averaged 39,527 barrels of oil equivalent a day, which is down about 4% from our fourth quarter levels, as we've scaled down drilling and completions and are now only running one rig in the Bakken. We're still guiding for our full year 2016 production range of 37,000 Boe to 39,000 Boe a day. On the operating cost side, LOE plus workover expense was $7.89 in the first quarter, versus $8.36 per Boe in the fourth quarter, representing right out about a 6% quarter-over-quarter decline. Given the cost improvements that we've experienced, we reduced the full year 2016 LOE plus workover cost guidance to $9, versus the previous guidance of $8 to $10. And then after adjusting for some selected items, cash G&A expense was $4.52 per Boe in the first quarter. We still expect cash G&A for 2016 to be within our previously indicated $3 to $5 guidance range for the year. Taxes other than income came in at just over $2 per Boe for the quarter.…
Operator
Operator
Ladies and gentlemen, thank you for participating in today's conference. This does conclude the program, and you may all disconnect. Everyone, have a wonderful day.