Q1 2019 Freehold Royalties Ltd Earnings Call Transcript
Good morning, ladies and gentlemen. Welcome to the Freehold Royalties Ltd. First Quarter 2019 Conference Call.
Please be advised that certain statements on this call constitute forward-looking information. These statements, other than those of historical facts, may be forward-looking, and we caution the listener.
I will now pass the call over to Tom Mullane, Chief Executive Officer of Freehold. Please go ahead, sir.
Thank you, and good morning, and thanks for joining us. Also joining me from Freehold are David Spyker, our Chief Operating Officer; Bob Lamond, our Vice President, Asset Development; Alan Withey, our Interim Chief Financial Officer; and myself. We will summarize our first quarter results and then will be happy to answer questions.
Some quarterly highlights we want to expand upon include on the operations front Q1 2019, royalty production averaged 10,139 BOEs a day, down 9% versus Q1 2018 and 2% versus the previous quarter. The variance in royalty
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