BCEI - Earnings call transcript Q4 2020

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Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Q4 2020 Bonanza Creek Energy, Inc. Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your speaker today, Scott Landreth. sir. ahead, go Please

Scott Landreth

morning earnings welcome conference Good fourth Bonanza quarter XXXX call everyone Josh. to and Creek’s Thanks, and webcast.

be this of Brant new and with President, issued our call Relations President website. investor the senior and presentation, the morning, press which Investor Yesterday, by of SEC found joined section the On we team. Eric other and on members CEO; XX-K Chief release, Demuth, filed our and Vice earnings can our management Executive the all Financial Officer I’m Greager, of posted a

Some could may are remarks that of morning. actual materially differ cause will our statements. the Please slides referenced this that statements forward-looking subject in results the to to current investor remarks these our include from be many presentation be risks that aware uncertainties during and

You refer most disclosures should contained call, good performance. GAAP these in evaluating XX-K and presentation. the forward-looking during earnings measures certain Reconciliations SEC investor we measures of to comparable in use they to we release because non-GAAP our in statements this read our filings. measures, contained believe Also and to full other are directly will metrics regarding our are financial

and the then start prepared to call will with Q&A. We move remarks

a questions, calls, with questions please on the sell-side reach today’s As to we analysts call. will with others from out previous directly community investors that call. earnings take those schedule to and in I me ask

contact within my the find of or yesterday's can You website Relations information on Investor section release. our

Eric? call to Greager. to the turn Now like over I would Eric

Eric Greager

resilient announcement to team safe transformative continue and our production, us Bonanza the the more stretching and margins, performance, successful Bonanza expanding us rates. to everyone and this Scott. a and very consistent of concluded improving our for lowering a I Despite over delivered January we have investment, you sheet. a the Arctic delivering turn an recently, opening operational quickly our DJ, The to March. and when annualized maintain is faced in More much new guidance. and started stimulations to pace The other of Despite cash early million and a and Resources. beat balance down guidance enabling had XXXX of the release debt to with while HighPoint rural oil expecting you'll XX our But created year for significantly reached summarize XQ that first G&A company's XXXX, financial to operations. development early not an nation expenses of scale and enabled morning rate, This Mboe to of on had substantial joining cash our significant on occupational remains with of exceeded the late XXXX and DUCs structure reduction acquisition in mix notice to $XX in prices, equal year margin of recurring to we're impacting Creek to synergy strength. a XXXX been value of yesterday, us Good HighPoint free in capital our or oil improvement Thanks, in was production XXXX. the combination want range say with the X% Creek our actions XXXX wells sales in In day cost These business, and expected we guidance. safety highlights we decline unit challenges, over health forecasted dramatic and a In The cash March average thank our transaction original provide generate LOE base XXXX, from were commodity generating few approximately morning. our for to we less weather end of to million delivered and cost this a In and more But before BCI the a the history. drove was levels March, expectations, our flow. improved XXXX. team in cash also offs XX XX% in freeze the the production in of reduced flex impacted, a of Q&A. flow our free line volumes total which no we 'XX. $XXX our I'll

companies base to like to the assets. of more to net work the year-end provide tax foreseeable according sustained due deferred HighPoint summary, balance benefit if company Briefly, million our with of I statements year-end. best in one on are relating is tests to both to Q&A during address item excited interest. combined the team income apply $XX can sheet the performed as the We income a on financial the of color future for our this position audit. Sandy would there's being to the and during But on Brant

Q&A. all information XX XX transaction. our transaction. and be allowance on of we website February most to tax comprehensive With turn previously results of our than exciting taxes, regarding a More milestones toward in our HighPoint. We by advantage to statement. now the result HighPoint our March year-end a will I removal income, meeting income call The tax at that, steady were the the for able to our Last progress this best deferred of take are statement a that which valuation key the of and proxy to allowance. sources announced week, As closing we of refer offset and approve acquisition available joint assets continue make will valuation benefit everyone of prospectus, as we the on operator to the shareholder scheduled

Operator

Our [Operator Leo with from comes first question Mariani KeyBanc. Instructions]

question. your with proceed may You

Leo Mariani

Hey, guys.

prices bit activity XXXX. little more and a to touch to timing first give deal start you're is out on arguably clearly know have But strength little of I'm back second wanted of you're is based commodity you could a in guess how level, Just a frac an and little there started waiting to guys be update. bit of of able just of earlier kind I of a second kind the you little to forma might half might Are prices of bit looking to think any there? the and of you bit consider getting get half quarter be year, trying [indiscernible] what a the got than you you of little you've price year-over-year better lot have the at rig guidance here. given thought of the there pro might we've be still on people at high well clearly sort from thinking wells. I kind still growth kind HighPoint didn't or in just commodities want us a robust most on you activity to you get about sense commodity a here more the when 'XX how seen we're a a great bit 'XX done? thinking really flattish out Obviously,

Eric Greager

Leo. Thanks,

question think we've planning for think certainly a thought, I great in I a second some given we half. standing rig the it and that's up are still

of DUC have drilling kind that simulation obviously, the good [indiscernible] now a of we'll us It a time. safe be time. And think is it'd takes news call bit The I that a lot -- little to and of steady that's DUCs program DUCs, take of that, QX. operation. we've stimulate it'll independent mid is to got between

-- the So operate, it rig to idea combined operating up when And we to flat we assets. slightly the start declining DUCs, replenish one we deal. contemplate The loaded pick announced the at is to about we across those rig. when least still or level talked

think, term is too rather relatively I significant flat to maintain it and have run over in you by recovery side, production to closing. use significantly, place which to to given new oil front driven we'll But flattish of be decline. to natural returns. try opposed on crude and that's to after And time the in commodity the going allowing a Board side prices the fair than stable kind use that gas probably it's the both as

I a second it's of year returns QX of with a sense I'm good to think early lot us. So to those to picking the discussed Board. and rig a flattish -- confident half mid say But way think the and makes go be of on kind up is in sensitivities the will

Leo Mariani

helpful. to close That's able guys kind getting guys, HPR we're the and obviously, size And, closer Okay. of which obviously are where you to a the roughly is of point for deal, the you the company. doubles milestone big

DJ. other out opportunities there forward, the in there I Looking be may some imagine

of You think a have and the you ambitions next right roughly little Boe deals years? continue do XX,XXX speaking, scale? the potentially become in Or couple is other to would to company per bigger day,

Eric Greager

whether you value value, business. front, deal to remain whether kinds are Well, look in the It our and more scale. depends -- you'd And is in obviously, the gives other opportunity us that requires, or level, that's acquisitions of valuation. to at. about share to accretive on our M&A corporate kind just engaged all I deal HighPoint conversation asset the But was any like on a metric think per shareholders on the only there's diversify And risks gaining but of not have risks, risks, scale, those those also reservoir portfolio. obviously, for to us more still across risks, the risk mitigate risks, in opportunities Leo, asset takeaway gives economies, or the posture

XX that at twice XX continue for exchange XX. it's and creative is we'll It's great of necessarily in to those. opportunities that's satisfied looking be grow got There's won't a sense. value improvement XX continue we to to the business. scale. got value fair certainly be appreciate and make for be because a We to look We'll So to

Leo Mariani

may guide question, bit lastly color. for readout little Okay. for first out events. just and think tricky on You That’s And much but asset quarter to the everything the be on of a extreme is is Are weather that obviously in weather cleared the came kind those at a point? this pretty for me, back a first range the quarter. wide up You pretty off have running? this passed, your great

kind try you of got sense can kind because you guesswork there's everything can you tell still is think baked involved So a to down, lot square bunch a [ph]? just what is of a get about or in wells per just us of of

Eric Greager

mean, that on we're is but Mboe It's in XX still challenges feel day to below on I XX tough. in of and It's weather some we're still confident pretty demand the zero And and captured range outcomes. definitely QX demand, well the good, we Leo, we range. captures cold. the it's a still that Now field, for the

Leo Mariani

Okay, guys. great. Thanks,

Eric Greager

you, Thank Leo.

Brant Demuth

Leo. Thanks,

Operator

Thank you.

Our Truist Dingmann Securities. comes Neil with next from question

with You proceed your question, may

Neil Dingmann

is on could I post of really year sort just a then on that, at don't HighPoint you just Good without want morning. give question but I have year on be at if color Eric, mentioned, don't on that looking just Slide for my keep When massive maybe the can cadence. about of question just yet know if I point. a to at HighPoint whether us premature acreage, you're how comment looking well if footprint little you obviously -- is XX. you I'm if and my can, next know you you that? the remainder as it this thinking this you may too how

Eric Greager

best for on XX first the the we DUC to after in blending to think with program putting DUCs, is stimulation will as the Neil, of be about all then year. should is the to weighted those close. QX the year. XX on as you range to acres, side way No, net forma the a And over the it and Slide half enterprise, stimulation And start talk pro XX throughout HighPoint that indicated, our in work But XXX,XXX sales. I standalone continue Bonanza of DUC

that's quarter wells or of in start as be those Bonanza March. the idea, start those notionally we QX, to the start be operated But the in of based profile In on. HighPoint quarter-to-quarter year. a turning that one-rig pick will stimulated both over at crew QX. we one kind XRLs replenishing like to we and DUC oil correction second obviously mix of lines going DUC in time. on to blend as in variability flat move there'll pricing. turning through QX and of a a cadence pretty about rally and slightly profile. diet per those you speaking, which terms pace generally And out development are essentially, XX line. lines of feels of There'll that's by were pace a on the to ons based On flat And turn stable about up that to that Neil operated want our if basis standalone maintain into frac to natural rig given think declining, Then is so just production November. in steady of higher production and turn But and slight in on then a on of you for development, orientation wobbliness crude returns pace SRLs in gas time, [ph] we over And about returns something a some inventory, solve one-rig the as turn of and flat rolled inventory the we the development,

inventory. the terms notionally off in of of wells be we've at got than X permits we'll drill a inventory quality inventory inventory locations development high So and pace in in approved And years acreage about queued able far and that across of to already permit up per more -- one-rig XX location year.

Neil Dingmann

is love XX. quick like -- I yes, then inventory. on follow-up And Slide Well, just a the

far the Looking hear stream at just more color be It oil of when I your gas, your in think I to structure hear of We but it a total love sort at time. I'd combined that slide on on how as and as infrastructure, seems I than know look about the it. answer, infrastructure? water little you comments at to love to this think more appropriate that company, maybe

Eric Greager

where interconnects together more system, not be gathering gathering oil, improves all you on then length up it's as gathering the got the of system. put multiple develop would wells budding that in the own, take gathering the that a developed even gets two resource sections, pipeline example, otherwise two systems -- interconnects we in system section gathering connecting wells lowering the gas crude couldn't you produced And have system, adjacent and connected we And would to would oil or the gas assets base for point We've on it sections. another water which value gathering we It's it. examples performance you've a to compound have one excited points intrinsic multiple one out. Yes, midstream an just two both have, and When further. represent pressure, different by adjacent have now gas access length, got pick obviously gas terminals. the of HighPoint the a these processors, multiple and and on Bonanza section been idle to can which setback to those system a developed gathering where you their system them, wide better

levelized synergies, also drilling see the you So of by that's true that incremental takes scale provided resource into at added. And or tying are laterals. the you Then to Bonanza's system some can lower system economies dig gathering improve acre there's our surface to surface. continuing HighPoint's we benefits with combine the to a the we through, systems either net of supply of at lot cost costs there be it XXX,XXX cost gathering some longer then that basically down that. We the entire supply the quantified that and cost those And as the just sink position and continue more we to the but excited levelized curve, our and teeth structure. the just couldn't think into

Neil Dingmann

details. Fantastic so much again. Thanks

Eric Greager

you, Thank Neil.

Operator

Thank you.

Our with question from Stifel. next comes Scialla Michael

You with your question. may proceed

Michael Scialla

you other in quarter, costs to thoughts Have morning, the a aspects? get one-rig rules good have of of fourth and and in might based you how an those years new of oil permits Eric, received program. new on a its timing on implemented your Hey, since terms inventory you permits commission couple impact guys. mentioned you gas any just want rules and and

Eric Greager

-- the thanks thank question. Mike, for Hey, yes,

permits, receiving steady locations permits very themselves. wells and inbound pace for of have We a been

We've are get So then, the Forms Xa. XXXX, and throughout the during continued since. rulemaking, X and to those those in time

work feel all of So the -- about pretty we ongoing. the good all about that's

work XXXX, feels date. the ability permit bulk on steady things I us as done. the are the challenging the don't think pace pace us We've incrementally permanent in with to the little more or place, behind of of and able rulemaking, effective more and XX but to the necessarily difficult of a in kind stabilizing. see of of a the January time continued develop. We it in they're like get to rulemaking stabilization hearings otherwise kind rulemaking clearing us, we now that lot company's COGCC want got commissioners permit just see at ahead There's terms to And COGCC bit full activities and commission. and generation, the of

Michael Scialla

any the anticipate costs you Do incremental new with rules?

Eric Greager

a Incremental things visits, to and been the those and and reporting costs in since in site of detection the last We've site X leak rulemaking It anticipated X increase sort those XX, January of involved steady say, no. the over requirements. repair, I and quarters. running rigor been has like would inspections pretty front

coming, we generally processes we and As see it place. build procedures in

would I suggest new place. January of in. processes the again, then -- the with built the that is up new of you in on Mike, It's rules we've what XX, Commission so and don't wake And got on sort it place, answer, most that put in and

the costs cost built most procedures had obviously, most in. rigor XXXX associated the we've in, and structure So of over of built and the has

Michael Scialla

Got you.

want to uses? of that, other get debt at looking use you where just on buyback you going next of you your flow, that going terms few looks or generate HighPoint in able cash like you're the free inherit maybe from to years, the flow it to want free at quickly. how after you're over get thoughts it, to Okay. And the be to pretty or cash reduce looking you're When dividend the

Eric Greager

Mike. are Yes, all of table, those the on

place driven, Bonanza, at it in and proper always rigorous run Board to Board analysis, decisions the front at going to has been returns. but I'd new driven those hate like by the it's a be have will And in We closing.

So, probably to there's that in a of going basket mix be consideration.

better want I well. something as talk certainly to understand. is Share think about want to repurchases dividends we and

shares well. just but those long. And then, be take -- it is to associated XX.X repurchasing as a downside half getting has activity with going a return isn't ratio a million with out, it, going there to to the turn to Although shares is leverage down that

use is and find cash some there business growing the we opportunity to through other opportunity an of so, good stock, companies. with combinations a And combination to continue inorganically should

Michael Scialla

Eric. Thanks, Great.

Eric Greager

Mike. Thanks,

Operator

Thank you.

Capital One. Phillips next with Our question from comes Johnston

You may your question. proceed with

Phillips Johnston

thanks. guys, Hey,

a me. strip. for PV-XX you one wondering provide slide component Just value. It's of of just the if that? I'm could HX shows year-end million deck $XXX the just PDP

Brant Demuth

good Thanks Phillips, morning. Yes. question. for the

So at The PDP be million. $XXX specific, year-end strip, is just to PV-XX

Phillips Johnston

Okay. That's it for me. Thanks, guys.

Brant Demuth

Thanks. That was easy.

Operator

Thank you.

next Parks with Our Noel question from Brothers. Tuohy comes

You may question. proceed with your

Noel Parks

morning. Good

Eric Greager

Noel. morning, Good

Noel Parks

Hi.

HighPoint [indiscernible] since got bucks far How improvement can I we spoke, in those XX into was service I the as guess, much at a cold I'm might have down. last think structure few Along what wondering, oil lines, any we've HighPoint, really different in the contemplating change well, the setting you're after side, wondering going cost forward? base just price. heading the just on look just acquisition. you scenarios a the I'm what maybe wondering as thoughts so just the slow like and on do about much year months? I

prices? think to back, work still to get in the equipment people believe when do badly wants do there's trough things you we've again? finally and service out Now seen and come you capacity Or that there do [ph]

Eric Greager

as And into idle contractor going quite there's location they're side this, of That's of as quarter it's going a of the commodity of rigs to crews up different for business, comes And the in side grinding and this the things command inflection see not position available far and it kind as I over a drilling on prices, drilling think and the great be parts the contractors, the stimulation part. capacity I we started a business. to There's Thanks, cycle. to of services. tell can When the I strategy to services, right ample suite here full dramatically the really Noel. think for last we on opposite. premiums and the be of available reach most drilling question. kind the where different It's the the

the of has it back last think I in even half months, was meaningfully just stimulation to and tighten in XXXX. tightened the the already market few beginning

was both being that immediate were some immediately recognizing being of idle folks As of capacity availability, contracted. time taken kind the at out which was same the of was available

so drive will and idle operators say to on a two drilling hard pretty there's would And be drilling the fronts, side. I on [indiscernible] capacity, able

a On and for of But to contract the most we've under little stimulation a diet crew DUC inventory of difficult. crew maintain then maintain contract throughout we've and got year side, be it's now that the more of got replenish stimulation, DUCs balance we'll under kind stimulation to going 'XX. our steady of bit the

And those maintained relationships are pretty I our we those paying feel of premiums over don't for spot as we kind running So these to good services. about relationships. as we've access -- anticipate those long time.

system If construction you think in services, of about elements, other the still those slack some and [indiscernible] services think pipelining services, the domains. plenty about most sub facilities, alike, service of of there's in I

wouldn't up So significantly. I that tightening anticipate

oil on. the of of business, do to anticipate tubular and that country On here in starts the tighten I continuing kind QX side

leading goods, substantially you indicator at If a worldwide, kind can up metal prices a for and country precursor tubular it's oil market, be that's the of and scrap to metal. look scrap

Noel, stop comments there, questions me on what said. got see other you've let and or I've just So if

Noel Parks

combined me mean, me. hey, a have I of No, make you companies? more for that hear [indiscernible] the talk any on Do time. road, any it I helpful. middle one I when going real your really such forward with think, tightness, was does thoughts hedging long in guess you of guess I the elements about policy we’re just after

Eric Greager

a try too compositionally few good on at I will a want too run maintain members sheet to specific new to of hedging. that sheet ton get we don't on what be means, new that, Noel. a leverage. you is, a certainly Board. to strong balance committee trying least me some might what question. front aggressive But audit a it's be balance the intend can't -- half And very Yes, around Again, say new I be would

able that of to balance company imply You and on What comment want balance to fundamental Brant, management. sheet a the exposure. without might hedging beyond front to that? that's do hedging sheet you allow in just running larger risk And kind strong be want sheet think audit versus you you a balance some do the committee?

Brant Demuth

Not will think that And the quarter, the but, strategy, the be you are off employed can oil detailed relatively in they our we've three the Noel, layering the pretty size. collars. too, zero in that can see is as tactics though will specifically, continue think I quickly about disciplined existing using cost but And here you which predominantly a quarters. doubling to always we're XX-K, obviously, the book see in on declines positions first remain structure over we hedged but that is, quarters I side, ensuing even the that,

Noel Parks

all That's Thanks. I had. Great.

Brant Demuth

Thanks, Noel.

Operator

you. Thank

with question next Davis Chris from Sachs. Our Goldman comes

question. with your proceed may You

Chris Davis

me? hear you Hi,

Eric Greager

Chris. Yes,

Brant Demuth

Chris. Yes,

Chris Davis

of these whiplash high So kind Colorado the anything? and outrageously prices, is offs causing in spot freeze or that derivatives any

Eric Greager

why Brant, don't you that? take

Brant Demuth

Yes. a than Chris. quarter good higher Thanks some. that call question, little in our the of two wouldn't and QX of hedged. are bit natural in The it whiplash. twos, we Clearly, a I the a mid percentage have those a for ceilings on gas

of has structured been more to against the So of as you spikes, I has clearly, products propane any mix. liquid works the product as have say or natural the don't that benefit this point. that our which our the reflected on gas the they're And percentage we as of become realizations component larger current side, any at in a hedged gas would do. hedge of situation,

on Does realized that's in of the improvement So in reflected between the recovery improved help? basis. oil been an equivalent overall prices that NGLs,

Chris Davis

thinking with was and seems checking a there's big like a contract have guys. you some could I problem was producers. that for that deliver, be you offsets a and helps. I if just off that that, can't freeze you That options just

Brant Demuth

as Yes, that's good actually a question well.

are hedge Our financial contracts. contracts

So contracts. against we don't physical those deliver

Chris Davis

settle what would physical, physical, to by And about. I you and settle to going price, deliver $XXX Okay. can't you when But the deliver worry have if spot you normally you receive and that's you're $XXX.

Eric Greager

on Yes, inability I'm contracts, our about actually concerned our to Chris. not deliver

weekend, but the have that's if I'm think I demands is to -- business the offs, against I'm difficulty think freeze hearing no problem despite deliver, understand sure we or that concern on some this I the question, at what not point, which our have -- we what And can't contracts. entirely no meet. might impacted perhaps delivering I whether we the not over

Chris Davis

Okay. Thank you very much.

Eric Greager

Really just price. Thank settlement a Chris. you,

Operator

Thank [Operator from Ray question [indiscernible]. Instructions] Our next you. comes

You may proceed with your question.

Unidentified Analyst

good Brant. big industrial pretty the on on any you gas. Hey, NGL morning, or relative comment. NYMEX NGL and uptick in for Yes. I XQ have realizations There's a your read -- demand through been a in Eric natural follow-up Do XQ? see to

Brant Demuth

partially in flow question. continues obviously, demand, high be the fourth for quarter. Yes, the in improve for and continue couple liquids. thanks months, propane Ray, to They gas to But pretty in of here through dramatically the specifically, it last natural I mean, heating. has spiked

I And think NGL benefit from we'll to prices. unrealized continue so high

Unidentified Analyst

mentioned in just metrics, you Got feel stricter or ahead able guess, terms being I in a guess, to maybe you it. your some Permian follow-up. be of [indiscernible]? peers you mission it. of I detection about the moving of mostly basins do the talk kind other infuse might And metrics around of leak or policies about sustainability that Got repairs. the what COGCC, and like with

Eric Greager

subsurface whether a surface advantage and of exists level against land that's steel think which and transparency we in in operating delivers Denver means case that's steel, that leak same it operating terms EPA opportunity, EPA, or advantage some a we standards, safest operating capital in gas us, competitive -- and resources, understanding makes most non-attainment, including better operate Metro according over believe and those and available be operating to DJ to best and in detection of X practices It's us this And and us the the oil I to our Ray, resources, got in externalities terms resources, we've how united in who be of of gives operators available jurisdictions, better. And the repair. the tension of knowledge CDPHE, to to reporting don't best us emissions are stewardship the and sharp our responsible management of And the that We pushes business. great Title environment. the with the a that impacts are EPA competitive have the that believe state-of-the-art resources, area. and and that steward U.S Colorado, cultural improvement air has and whether resources, absolutely question. custody that in a those technologies our -- are

we it makes us in lagging across been competitive we of U.S able on. better. state capitalize We and a So, advantage. lagging is the the think we've probably it's learnings to And most in E&P and Colorado think short, attention think the

Unidentified Analyst

quick great. very That's much. hey, And, last just Thanks a one.

quarter, for drilling last think on OXY from plans have for I lake. the there? French you didn't include anything Does current communication budgeting clear

Eric Greager

XXXX doesn't, it Yes, it does not.

Unidentified Analyst

Okay.

Eric Greager

great just OXY capitalize remains answer But with undetermined and is discussed I on relationship beyond is everyone long have range a they're them. bigger we -- at plans hard And closely of short remain in got working organization we remains The for is What they're budgeting beyond. 'XX with they've think know great place point. it. to to 'XX. and for hard. kind with to a and XXXX, And work great continue relationship We and this 'XX be no and resources, and OXY working

Unidentified Analyst

great. very much. Thanks That's

Eric Greager

Thank Ray. you,

Operator

Thank you.

Hughes comes Wells Our Fargo. next from question Tom with

your question. with proceed may You

Tom Hughes

just quickly I you've in to light wanted and of flow the curve? strategy, if reevaluated real the just see prices shape of oil guys. Hey, back

Eric Greager

good question. Yes, thanks, Tom. a It's

revenue model our optimization that will We what which back and always is constantly our strategy. management, model. cost And to updating reservoir updating economic includes a according flow a pressure model constantly adjust informs

the economic it evolving continuously of So part tool. as comes the dynamo, optimization

So and it tell what and it economic type choking and do opening stream. on curve us will streams according optimizes values that not or whether is, various value forecast with those will revenue the dollar to to attached whether the reaches that’s an model or changes, then based -- optima various

The process. always revenue a process I I answer on specific be, model short is according engine. set So yes. answer very curves assigned cost set on to update changing physics yes, based to to the model type guess continuously continuously the the and short is, will of dynamos think And

Tom Hughes

you. Thank Okay.

Eric Greager

Thanks, Tom.

Operator

any back for to further call further turn you. Thank Eric now remarks. I’m to not I at this Greager time. showing questions the like over And any would

Eric Greager

Thank I for just this joining want for continued thank everyone to your call the you. interest in morning Creek. Bonanza and

Operator

today’s you. concludes Thank call. conference participating. Thank and you gentlemen, Ladies this for

now may You disconnect.

Civitas Resources (CIVI) 18 Feb 212020 Q4 Earnings call transcript