ProPetro Holding Corp.

Good morning and welcome to the ProPetro Holding Corp. 3rd Quarter 2020 Conference Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then 1 on your touchtone phone. To withdraw your question, please press star then 2. Please note this event is being recorded. I would now like to turn the conference over to Sam Sledge, Chief Strategy and Administrative Officer. Please go ahead.

Thanks, Brandon, and good morning, everyone. We appreciate your participation in today's call. With me today is Chief Executive Officer Philip Gobe, Chief Financial Officer David Shorlimer, and Senior Vice President of Operations Adam Munoz. Yesterday afternoon, we released our earnings announcement for the third quarter 2020. Please note that any comments we make on today's call regarding projections or our expectations for future events are forward-looking statements covered by the Private Securities Litigation Reform Act. Forward-looking statements are subject to several risks and uncertainties, many of which are beyond our control. These risks and uncertainties can cause actual results to differ materially from our current expectations. We advise listeners to review our earnings release and risk factors discussed in our filings with the SEC. Also, during today's call, we will reference certain non-GAAP financial measures. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in our earnings release. Finally, after our prepared remarks, we will hold a question and answer session. With that, I would like to turn the call over to Philip.

Thanks, Sam, and good morning, everyone. The past several months have been difficult for everyone given the impact of the global COVID-19 pandemic on our personal and professional lives. I want first to thank all of our employees for their continued efforts in following CDC guidelines and other governmental agencies to promote a healthy and safe work environment, not only for themselves, but for our customers, supply chain partners, and other stakeholders. As important, I want to once again say how much we appreciate our medical workers and first responders here in the Permian Basin for the selfless sacrifices they make day in and day out to ensure our well-being. Before we begin to discuss our results for the third quarter, I'd like to take the opportunity to welcome David Shorlimer to ProPetro's team. David knows the oilfield services space very well and most recently served as Executive Vice President Chief Financial Officer, Treasurer, and Secretary of Basic Energy Services. He brings with him more than 25 years of broad-based experience in senior-level positions in finance, technology, business process integration, strategic and organizational planning, M&A and capital market transactions, as well as a proven track record of ensuring strong corporate governance. We look forward to David's immediate and long-term contributions to ProPetro's success. I also want to take the opportunity to thank Darren Holdness for his dedication and hard work over the past year. Darren stepped in to provide critical leadership in our efforts to strengthen our finance and accounting operations, which has been critical in our ability to successfully navigate the impact of the global 19 pandemic to date. As important, Darren's many contributions including his guidance through the process that returned us to our current filing status with the SEC have helped lay a strong financial foundation for ProPetro as we move to an eventual market recovery. Turning attention to the third quarter, we were clearly pleased to see an increase in customer activity levels from the second quarter, more than doubling our average active fleet count. The thoughtful and decisive steps we took During the second quarter, it allowed us to streamline our operations without sacrificing our ability to respond as market conditions improved, which we began to see in June and continued through the third quarter. In addition to safeguarding the long-term health of our balance sheet, a key factor in our decision-making process, we prioritized protecting the core competencies of our business and providing customers unmatched execution at the well site. The strategic benefit of these efforts was evident in the third quarter as we rehired hundreds of teammates to support growing activity levels. Our ability to respond to quickly redeployed crews at historically high performance levels with minimal downtime spent onboarding these rehired teammates made a significant difference as activity ramped up in the third quarter. Our best-in-class operational and safety performance was on full display in the third quarter, and I want to thank all of our team members for their ongoing resilience. Customers remain squarely focused on utilizing the highest quality crews available in the industry. Our team's ability to stay nimble, to quickly and effectively respond to the needs of our customers is a premier point of differentiation in this business. Our customer-focused culture has allowed us to maintain market share at similar levels to the beginning of the year, which we expect to continue into 2021. To be clear, profitability is paramount, and we remain fully committed to improving margins and creating shareholder value. As evidenced, during the third quarter, we are pleased to once again generate free cash flow from operations. Complimenting our efforts to provide best-in-class execution at the well site, we will continue to promote the health of our balance sheet as it is vital to our success and will be a requirement in our sector to remain competitive. Our blue-tip customers are interested in working with companies that they can rely on for the long term, both operationally and commercially, and we view our solid financial position as a key differentiator for ProPetro. This is especially true as we navigate the ups and downs of the oil and gas industry as we move our way back to a much improved demand environment in the future. With that, I will turn the call over to David to discuss our financial performance. David. Thanks, Philip.