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Centennial Resource Development Inc at JPMorgan Energy, Power & Renewables Conference Transcript

Jun 22, 2022 / 02:30PM GMT
Release Date Price: $6.63 (-10.44%)
Zachary Parham
JPMorgan Chase & Co, Research Division - Research Analyst

Good morning. Welcome to the -- to Day 1 of our 7th Annual Energy Conference at J.P. Morgan. I'm Zach Parham from the E&P research team. Joining us next is Centennial Development, a Pure-Play Delaware Basin E&P that recently announced a merger of equals with private operator, Colgate Energy.

Today, we have representatives from both CDEV and from Colgate with us, including Sean Smith, CEO of CDEV and James Walter and Will Hickey, Co-CEOs of Colgate, who will be leading the combined company upon the deal close, which is expected in 3Q.

Questions & Answers

Zachary Parham
JPMorgan Chase & Co, Research Division - Research Analyst

I guess, first off, a question from both teams. Maybe Sean, you can answer it first. Could you give us some color on why you believe this transaction is the best path forward for both of the companies?

Sean R. Smith
Centennial Resource Development, Inc. - CEO & Director

Yes, sure.

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