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PennWest Energy Trust Q1 2010 Earnings Call Transcript

PennWest Energy Trust (PWE)

Q1 2010 Earnings Call

May 5, 2010 12:00 pm ET


William Andrew – Chief Executive Officer

Murray Nunns – President, Chief Operating Officer


Andrew Fairbanks – Bank of America

Jonathan Fleming – Cormark Securities

Greg Shaw – TD Securities

Clifford Griffith – Private Investor

[Jason Frue – Credit Suisse]

Gordon Tate – BMO Capital Markets



Welcome to the PennWest Energy Trust’s first quarter conference call and webcast. I would now like to turn the call over to Mr. William Andrew, CEO of PennWest Energy.

William Andrew

Good morning to everyone out there this morning from a very wintery Calgary. We’re paying the price this morning for what’s usually the advantage of living so close to the Rocky Mountains.

Welcome to PennWest’s 2010 first quarter financial and operating results conference call. With me this morning in Calgary, is our President and Chief Operating Officer Murray Nunns, and our Chief Financial Officer Todd Takeyasu. As well, we’ve got other members of our senior management team around the table.

PennWest Trust units are traded both on the New York Stock Exchange under the symbol PWE and on the Toronto Stock Exchange under the symbol PWT.UN. All references during this conference call are in Canadian dollars unless otherwise indicated and all conversions of natural gas and barrels of oil equivalent are done on a six to one conversion ratio.

Today, we’re pleased to report our operational results for the first quarter of 2010, and before I hand the call over to Murray for a much more detailed review of the quarter as well as some discussion, I just wanted to take a few minutes and sort of set the table for Murray a little bit on what I perceive as some of the highlights.

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