Tue, 16 Dec 2008|
Automatically Generated Transcript (may not be 100% accurate)
Hello this is Michaela Adams with oil and gas financial journal and on -- at the Houston energy financial forum. And here today with Lynn Peterson president and CEO of Kodiak oil and gas -- thank you for joining us accurately. You were presented today at the financial forum what message are you trying to get across to the analysts and investors. -- -- -- in these difficult times number ones liquidity. Being able to drill within our cash flow -- our current cash position I think that's number one. Item that's on her version mind right now I think art -- never play speak for themselves but we have demonstrated to the investors. That we have the cash on hand -- Cash flow. And if need be we have banking arrangements so close to. -- programs forward. As you mentioned the economy is kind of on down slope right now what if anything has changed about -- acts operations. Well -- think -- -- expiration coverage we've had to reevaluate -- program. -- look at commodity prices. Look at equity and debt world what's changed there. So I think generally speaking we're doing what all oil companies are doing worse -- donor activity. The one thing where you're able do that we operate most of our properties. So we can pretty much dictate the timing of our drilling. It may be where we drill. Locations we have joint venture partners. Who have different interests and different blocks of acreage. We now -- capital. To the writers to stay within our capital budget constraint. It's okay. What about the future what do you what -- -- -- of Kodiak oil and us both short term and long term. Well -- -- expiration group. -- Have a lot of geologists -- staff we try to developer -- projects. We try to look for ideas I have some meaning -- Most of our players -- -- might see if you listen presentation that are. You know we're -- with a bigger killers in Wyoming. Devon Energy is our partner. It's a deep. Gas shale play. Leisure Spencer wells. Of the North Dakota Republican who were involved with -- XTO. So you know what we're trying to do is as bill projects. That have long term meaningful cash flow owner's service conditions -- -- We're gonna continue to do today you know I think the -- -- Lebanon today it will change. You're commodity prices they were there a growing -- -- economics improved. -- vice -- we'll -- a spike in oil prices again we will move forward so hopefully it's temporary is three months six months a year two years only -- will. Right well best of luck to you and thank you for being a present -- and I appreciate your time. With Internet you very much.