Falcon Minerals Corp (NASDAQ:FLMN) Q1 2019 Earnings Conference Call - Final Transcript

May 07, 2019 • 09:00 am ET


Falcon Minerals Corp (NASDAQ:FLMN) Q1 2019 Earnings Conference Call - Final Transcript


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Good morning. Welcome to the Falcon Minerals First Quarter 2019 Earnings Results Call and webcast. Today's call is being recorded. At this time, all participants have been placed in a listen-only mode and the floor will open for your questions following the presentation. (Operator instructions)

It is now my pleasure to turn the floor over to Brian Begley with Falcon Minerals. Sir, you may begin.

Brian J. Begley

Good morning, everyone, and thank you for joining us for today's call to discuss Falcon's first quarter 2019 results. With us today on the call is our President and Chief Executive Officer, Daniel Herz; and our Chief Financial Officer, Jeff Brotman.

Before we begin, I would like to remind everyone that during this call, we'll make certain forward-looking statements. And in its context, forward-looking statements often address our expected future business and financial performance and financial conditions, and also contain words like expects, anticipates and similar words or phrases. Forward-looking statements by their nature address matters that are uncertain and are subject to certain risks and uncertainties, which can cause actual results to differ materially from those projected in the forward-looking statements. We discussed these risks in the quarterly report on Form 10-Q, which we filed later this week; and our annual report on Form 10-K. I also like to caution you not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligations to publicly update our forward-looking statements or to publicly release the results of any revisions to forward-looking statements that may be made to reflect events or circumstances after the date hereof or reflect the occurrence of unanticipated events.

Additionally, in our earnings release, we have provided a reconciliation to the non-GAAP measures we refer to in our public disclosures such as adjusted EBITDA and pro forma free cash flow.

With that, I'll turn the call over to our CEO, Daniel Herz, for his remarks. Daniel?

Daniel C. Herz

Thanks, Brian. Welcome, everyone, and thank you for joining the Falcon Minerals Corporation first quarter 2019 earnings call. As you will hear throughout my remarks, I believe we are extremely well-positioned to deliver value to our shareholders in the short, medium and long term. I expect Falcon will be able to deliver these returns by generating substantial free cash flow and delivering on significant embedded growth, as well as executing on highly accretive, organic and strategic acquisitions.

I expect that we will drive growth and return value to shareholders by way of increased cash flow and a robust dividend. Although the energy industry in a way reminds me of Mark Twain's quote, If you don't like the weather in New England, just wait a few minutes. The oil and gas sector, and specifically oil prices, have felt similarly volatile with prices falling, then rising and then pulling back of late. Through all of this, we at Falcon find ourselves in an enviable position with great stability and a clear line of sight on growth as