RPC, Inc.

Good morning and thank you for joining us for RPC, Inc.'s fourth quarter 2020 Financial Earnings Conference call. Today's call will be hosted by Rick Hubbell, President and CEO, and Ben Palmer, Chief Financial Officer. Also present is Jim Landers, Vice President of Corporate Services. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question and answer session. Instructions will be provided at that time for you to queue up for questions. I would like to advise everyone that this conference call is being recorded. Jim will get us started by reading the forward-looking disclaimer.

Thank you and good morning. Before we begin our call today, I want to remind you that in order to talk about our company, we're going to mention a few things that are not historical facts. Some of the statements that will be made on this call could be forward-looking in nature and reflect a number of known and unknown risks. I'd like to refer you to our press release issue today along with our 2019 10-K and other public filings that outline those risks, all of which can be found on RPC's website at www.rpc.net. In today's earnings release and conference call, we'll be referring to several non-GAAP measures of operating performance. These non-GAAP measures are adjusted net loss, adjusted loss per share, adjusted operating loss, EBITDA, and adjusted EBITDA. We're using these non-GAAP measures today because they allow us to compare performance consistently over various periods without regard to non-recurring items. In addition, RPC is required to use EBITDA to report compliance with financial covenants under our credit facility. Our press release and our website contain reconciliations of these non-GAAP financial measures to operating loss, net loss, and loss per share, which are the nearest GAAP financial measures. Please review these disclosures if you're interested in seeing how they are calculated. If you haven't received our press release yet and would like one, please see our website once again at www.rpc.net for a copy. I will now turn the call over to our CEO and President, Rick Hubbell. Thank you, Jim.

This morning we issued our press release for RPC's fourth quarter of 2020, and we will discuss the quarter in a moment. Before we start, though, I'd like to thank our employees for working through this incredibly challenging year of 2020. Through their efforts, our company is positioned to benefit from improving business conditions. We appreciate your dedication. Fortunately, several COVID vaccines have been approved and are now in the early stages of distribution. This development paves the way for a worldwide recovery and hydrocarbon demand. On the supply side, we have experienced a lack of investment in drilling the past several years, a declining production base and quote OPEC plus unquote discipline. This would appear supply and demand are heading in opposite directions. This confluence of events could potentially lead to an upcycle in our industry. RPC's fourth quarter activity levels improved sequentially for the first time since 2016, consistent with several oil field key metrics. Our CFO, Ben Palmer, will discuss this and other financial results in more detail, after which I will provide some closing comments.