EOG Resources, Inc.

Good day, everyone, and welcome to EOG Resources' first quarter 2021 earnings results conference call. As a reminder, this call is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to Chief Financial Officer of EOG Resources, Mr. Tim Driggers. Please go ahead. Thank you.

Good morning, and thanks for joining us. We hope everyone has seen the press release announcing first quarter 2021 earnings and operational results. This conference call includes forward-looking statements. The risks associated with forward-looking statements have been outlined in the earnings release and EOG's SEC filings, and we incorporate those by reference for this call. This conference call also contains certain non-GAAP financial measures. Definitions as well as reconciliation schedules for these non-GAAP measures to comparable GAAP measures can be found on our website at www.eogresources.com. Some of the reserve estimates on this conference call or in the accompanying investor presentation slides may include estimated potential reserves and estimated resource potential not necessarily calculated in accordance with the SEC's reserve reporting guidelines. We incorporate by reference the cautionary note to U.S. investors that appears at the bottom of our earnings release issued yesterday. Participating on the call this morning are Bill Thomas, Chairman and CEO, Billy Helms, Chief Operating Officer, Ezra Jacob, President, Ken Bedecker, EVP Exploration and Production, Lance Turveen, Senior VP Marketing, and David Streit, VP Investor and Public Relations. Here's Bill Thomas.

Thanks, Tim, and good morning, everyone. EOG is delivering on our pre-cash flow priorities and our strategy to maximize long-term shareholder value. Yesterday, we declared a $1 per share special dividend to demonstrate our commitment to returning cash to shareholders. Combined with the regular dividend, we expect to return $1.5 billion to our shareholders through dividends in 2021. Double premium well productivity and cost reductions are substantially improving our returns and increasing our ability to generate significant free cash flow. In order to maximize long-term shareholder value, we will remain flexible as we carry out our free cash flow priorities in the future. By doubling our reinvestment standard, the future potential of our earnings and cash flow performance are the best they've ever been. This quarter, we generated a quarterly record $1.1 billion of free cash flow and earned $1.62 per share of adjusted net income, the second highest quarterly earnings in company history. In addition, our balance sheet is in superior shape, with a peer-leading low debt-to-cap ratio. Next, Ezra will review our capital allocation strategy in more detail. Billy will go over our operational performance, and Tim will cover our financial performance before I make a few closing remarks. Now, here's Ezra.