Mid-Con Energy Partners, LP (MCEP) CEO Jeff Olmstead on Q1 2019 Results - Earnings Call Transcript

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Mid-Con Energy Partners, LP (NASDAQ:MCEP) Q1 2019 Results Conference Call May 3, 2019 9:00 AM ET

Company Participants

Jeff Olmstead - President, Chief Executive Officer

Sherry Morgan - Chief Accounting Officer

Chad McLawhorn - General Counsel

Philip Houchin - Chief Financial Officer

Randy Olmstead - Executive Chairman

Operator

Good morning, ladies and gentlemen, and welcome to the Mid-Con Energy Partners, LP First Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question and answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the conference over to your host, Mr. Jeff Olmstead. Please go ahead, sir.

Jeff Olmstead

Thank you, Tiffany. Good morning. Thank you, everyone, for your participation on the call today. Before we get started, I would like to remind you that today's call will include forward-looking statements related to future and not past events within the meaning of the federal securities laws. These forward-looking statements are based on our current expectations and include any statement that is not directly related to our current or historical facts. For further explanation, please refer to our SEC filings.

Joining me on the call today are Sherry Morgan, our Chief Accounting Officer; Chad McLawhorn, our General Counsel; Philip Houchin, our CFO; and Randy Olmstead, our Executive Chairman.

Last night, we posted our earnings release and 10-Q for the quarter ending March 31, 2019. Production and EBITDA for the quarter came in at the low end of our guidance range due to a number of factors that we believe are onetime in nature. Realized pricing in January and February had the largest effect as our wellhead prices were lower than normal, which resulted in our temporarily shutting in almost a

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