Q4 2018 Freehold Royalties Ltd Earnings Call Transcript
Good morning, ladies and gentlemen. Welcome to the Freehold Royalties Limited 2018 Year-End and Fourth Quarter conference Call. Please be advised that certain statements on this call constitute forward-looking information. All statements other than historical facts may be forward-looking, and we caution the listener.
I will now pass the meeting -- pass the call over to Tom Mullane, Chief Executive Officer.
Yes, good morning, and thank you for joining us. On the call from Freehold are Darren Gunderson, our CFO; Dave Spyker, our VP, Engineering; Bob Lamond, our VP, Exploration; and myself.
We will summarize our 2018 and fourth quarter results, along with our outlook for 2019, and then we'll be happy to answer questions. 2018 royalty production averaged 10,718 BOEs a day, down 2% versus 2017. The decrease year-over-year reflected a combination of lower third-party drilling on our royalty lands and lower prior period adjustments.
Royalty production volumes for
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