Battalion Oil Corporation

Good day, ladies and gentlemen, and welcome to the Battalion Oil Q1 2022 earnings call. As a reminder, today's conference is being recorded. Now, I'll turn it over to Battalion Oil Corporation's Finance Manager, Mr. Chris Lang, to open the call. Mr. Lang, you may begin.

Thank you, and welcome to our first quarter 2022 earnings call. With me today are a few of my colleagues, our Chief Executive Officer Richard Little, our Chief Financial Officer Kevin Andrews, and our Chief Operating Officer Daniel Rowling. This conference call contains forward-looking statements. For a detailed description of our disclaimer, see our earnings release issued yesterday and posted on our website. This conference call also includes references to certain non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most directly comparable measure under GAAP are contained in our earnings announcement released yesterday. We have also published an investor presentation, which may be found on our website and will be referenced during this webcast. Our team will begin with a few scripted remarks followed by Q&A. Now let me turn it over to Rich.

Thanks, Chris. I'm excited to be here this morning. I'd first like to thank everyone who's joined us on the call today. We released our earnings and our investor presentation last night after the market closed, both of which can be found on our website and may be referenced here today. We're off to a strong start in 2022 and I'm excited to share our progress to date. Our goal for 2022 was to ramp up activity and drive significant growth in daily production while remaining committed to capital discipline and operational efficiency. We're over four months into our long term development program and the early results are promising. We kicked off our capital program in December with the splitting of a three well pad and our operational performance there was exceptional. On the drilling side, We exceeded plan on footage drilled per day, reaching a total depth on each well ahead of plan while remaining tight with our target lines throughout the lateral. We kept that operational excellence moving as we completed the wells with high pump efficiencies in line with our aggressive plans. We assumed inflation would hit our industry this year. The question was just how much. With that question remaining largely unanswered, these operational efficiencies are critical as we continue to combat inflationary pressures. due to supply chain disruption and labor shortages. When we issued guidance earlier this year, we described 2022 as a wind-up in activity. With only two new wells put online during the last 12 months, we fully expected to see a natural decline in production early in the year before the new wells came online and returned to growth. With our first three wells now flowing back, we're excited to say that moment has finally come We're looking forward to sharing the data of those wells in Q2 and show the market how our hard work translates into results. But for now, I can say that early flowback results and other key indicators are encouraging. We also expect to wrap up drilling on our next pad, which is the Keller pad, in the next week and anticipate having those wells flowing back in June. Our stated strategy has four key tenets. Develop our liquid-rich acreage positions to grow production and reserves efficiently. enhance returns through continued improvement in operational and cost efficiencies, maintain financial flexibility, and attain growth through strategic business combinations. Based on our progress this year, we believe we're well on our way. With that, let me pass it over to Danny to continue providing some detail on our operational results.