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Chesapeake Granite Wash Trust CEO Discusses Q2 Results - Earnings Call Transcript

Chesapeake Granite Wash Trust (CHKR)

Q2 2012 Earnings Call

August 13, 2012 11:00 am ET


Nick Dell'Osso - Executive Vice President and Chief Financial Officer

Steve Dixon - Executive Vice President - Operations and Geosciences and Chief Operating Officer


Justin Albert - Raymond James

Ted Durbin - Goldman Sachs

Aaron Terry - Kayne Anderson



Good day and welcome to the 2012 Second Quarter Chesapeake Granite Wash Trust Earnings Call. As a reminder, today's call is being recorded.

At this time, I'd like to turn the call over to Nick Dell'Osso. Please go ahead, sir.

Nick Dell'Osso

Good morning and welcome to the Chesapeake Granite Wash Trust's conference call. Also, joining me today this morning is, Steve Dixon, Executive Vice President and Chief Operating Officer of Chesapeake, and via teleconference is Michael Ulrich, Vice President of Bank of New York Mellon Trust Company, the Trustee for the Chesapeake Granite Wash Trust. Also, here to assist with some Q&A is John Kilgallon of the Investor Relations Group in Chesapeake.

I'll review prepared remarks, and then we will take any questions you may have. Please note that today's conference will contain forward-looking statements and assumptions that are subject to inherent risks and uncertainties. The actual results may differ materially from those projected in the forward-looking statements. Additional information about risk factors and other factors that could potentially affect the Trust and its financial results are included in the Trust's press release issued last Friday, and in the Trust filings with the SEC.

As a reminder, CHKR is a statutory Trust, which is required to distribute all cash flow after expenses. The trust has no employees or officers in Chesapeake Energy as a sponsor of the trust is responsible for operating the properties, in which trust has an interest in fulfilling certain billing [impairments], which is also detailed in the trust's filings with the SEC.

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