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Penn West Petroleum's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Penn West Petroleum Ltd (PWE)

Q2 2012 Earnings Call

August 10, 2012, 12:00 pm ET


Jason Fleury - Senior Manager, IR

Murray Nunns - President & CEO

Hilary Foulkes - EVP & COO

Todd Takeyasu - EVP & CFO


Greg Pardy - RBC Capital Markets

Kate Minyard - JP Morgan

Michael Zuk - Stifel Nicolaus

Jonathan Fleming - Cormark Securities

Gordon Tait - BMO

Brian Kristjansen - Canaccord Genuity

Roger Serin - TD Securities

Jeremy Kaliel - CIBC



Good afternoon. My name is Nick and I will be your conference operator today. At this time, I would like to welcome everyone to the Penn West Exploration 2012 second quarter results conference call. All lines have been placed on-mute to prevent any background noise. After the speakers remarks there will be a question-and-answer. (Operator Instructions) Thank you.

Jason Fleury, you may begin your conference.

Jason Fleury

Thank you and good morning. Welcome to Penn West 2012 second quarter financial and operating results conference call. My name is Jason Fleury and I am responsible for the Investor Relations Group here at Penn West. With me this morning in Calgary is our President and Chief Executive Officer, Murray Nunns; Chief Operating Office, Hilary Foulkes; and our Chief Financial Officer, Todd Takeyasu and other members of the senior management team.

Before getting started this morning I would like to quickly remind listeners of our customary conference call advisory. Penn West shares are traded both in the New York Stock Exchange under the symbol PWE and on the Toronto Stock Exchange under the symbol PWT. All references during this conference call are in Canadian dollars unless otherwise indicated and all conversions of natural gas to barrels of oil equivalent are done on a six to one conversion ratio. All financials are reported under International Financial Reporting Standards.

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