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EV Energy Partners Management CEO Discusses Q1 2012 Results - Earnings Call Transcript

EV Energy Partners, L.P. (EVEP)

Q1 2012 Earnings Call

May 9, 2012 4:30 PM ET

Executives

John Walker – Executive Chairman

Mike Mercer – SVP and CFO

Ron Gajdica – SVP, Acquisitions

Analysts

Kevin Smith – Raymond James

John Ragozzino – RBC Capital Markets

Ethan Bellamy – Robert W Baird

Bernie Colson – Global Hunter Securities

Tony Lingham – Macquarie Partners

Richard Roy – Citi

William Adams – GAMCO

Tom Wise – CenterPoint Properties

Presentation

Operator

Good day, ladies and gentlemen. Thank you for standing by. Welcome to the EV Energy Partners First Quarter Earnings Conference Call.

(Operator Instructions)

This conference is being recorded today, Wednesday, May 9, 2012.

I would now like to turn the conference over to Mr. John Walker, Executive Chairman. Please go ahead, sir.

John Walker

Thank you, Camille and welcome, everyone this afternoon. Thank you for joining us for the first quarter call for EVEP. Presenters this afternoon will be me, Mike Mercer and Ron Gajdica. Mark Houser, our CEO, is with his family at the funeral for his wife’s mother who had a courageous eight-year fight against cancer.

Relative to our production, revenues and distributable cash flow, we exceeded the midpoint of guidance. We fell short on LOE and G&A expenses because of some reclassification of expenses and non-recurring quarterly items, which Mike Mercer will address. Overall, it was another steady quarter for EVEP. Production into May continues to meet our forecast and I’m saying that because I want to spend just a little bit of time talking to you about the probable impact of the giant surplus of gas that has to be worked off by fall.

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