Q1 2022 Centaurus Energy Inc Earnings Call Transcript
Good morning. My name is Pam, and I will be your conference operator today. At this time, I would like to welcome everyone to Centaurus Energy first-quarter earnings conference call. (Operator Instructions)
Mr. Tawil, you may begin your conference.
Thank you, operator. And thank you all for joining Centaurus Energy's 2022 first-quarter earnings call. I'm excited to say that today, Centaurus Energy is in the strongest, the most focused position that it has been in since prior to the pandemic.
In recent months, the company closed on the sale of its most capital-intensive asset, namely its working interest in the Coirón Amargo Sur Este block. The Coirón Amargo Sur Este block is in the Vaca Muerta formation in the province of Neuquén. The sale was to Centaurus's operating partner in the block, Pan American Energy. As consideration for the transfer of its working interest in Coirón Amargo Sur Este, Centaurus received a multi-year overriding royalty revenue stream totaling approximately $25 million,
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