This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Triangle Petroleum's CEO Discusses F2Q 2013 Results - Earnings Call Transcript

Triangle Petroleum Corporation (TPLM)

F2Q 2013 Earnings Conference Call

September 06, 2012 10:30 am ET


Jonathan Ryan Samuels – President and Chief Executive Officer


Ronald E. Mills – Johnson Rice & Co. LLC

Mike Kelly – Global Hunter Securities LLC

Peter F. F. Kissel – Howard Weil, Inc.

Jeffrey Hayden – KLR Group

Jason Wangler – Wunderlich Securities

Dan McSpirit – BMO Capital Markets



Good morning ladies and gentlemen. Welcome to the Second Quarter 2013 Triangle Petroleum Corporation Earnings Conference Call. My name is Chris, and I’ll be your conference moderator for today. Presently all participants are in a listen-only mode. Later we will facilitate a question-and-answer session. (Operator Instructions) As a reminder this conference is being recorded for replay purposes.

And at this time, I will now like to turn the conference over to your presenter for today Mr. Jonathan Samuels, President and CEO. Sir, you may proceed.

Jonathan Ryan Samuels

Thank you and good morning everyone. Welcome to the second quarter fiscal 2013 Triangle Petroleum earnings call. There are five topics we’d like to cover this morning and then we’re going to turn it over for Q&A. The first topic will be review of last quarter's operations and financial results. Second topic will be the recent NGP financing. Third will be a review of our balance sheet and our outlook for hedging. Fourth will be a RockPile discussion, both operations and how we account for it. And the fifth will be guidance and outlook for the third quarter.

This past quarter, our second quarter fiscal 2013 was a very good quarter for us. First cash flow from operations, positive quarter in our company's history, and really we think begins the March quarter-after-quarter growth that we’ve been preparing for and building for, for the last year. Our current production in the quarter was approximately 94,000 barrels of oil and 103,000 barrels of oil equivalent. We added approximately 2,000 net acres in the quarter, all operated – all in McKenzie County at a cost of approximately 2,000 per acre.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,836.04 +23.85 0.13%
S&P 500 2,090.81 +1.67 0.08%
NASDAQ 5,117.3660 +14.5580 0.29%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs