Baytex Energy Corp.

Thank you for standing by. This is the conference operator. Welcome to the BATEX Energy Corp. Second Quarter 2024 Financial and Operations Results Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity for analysts to ask questions. To join the question queue, you may press star then 1 on your telephone keypad. You may also submit questions in writing at any time using the form in the lower section of the webcast frame. Should you need assistance during the conference call, you may signal an operator by pressing star then zero. I would now like to turn the conference over to Brian Hector, Senior Vice President, Capital Markets and Industrial Relations. Please go ahead.

Thank you, Brenda. Good morning, ladies and gentlemen, and thank you for joining us to discuss our second quarter 2024 financial and operating results. Today, I'm joined by Eric Greger, our President and Chief Executive Officer, Chad Kalmakoff, our Chief Financial Officer, and Chad Lundberg, our Chief Operating Officer. While listening, please keep in mind that some of our remarks will contain forward-looking statements within the meaning of applicable securities laws. I refer you to the advisories regarding forward-looking statements, oil and gas information, and non-GAAP financial and capital management measures in yesterday's press release. All dollar amounts referenced in our remarks are in Canadian dollars unless otherwise specified. And following our prepared remarks, we will be taking questions from analysts. In addition, if you are sitting in today via the webcast, you will have the opportunity to submit an online question in time permitting We will strive to answer your question. With that, I would now like to turn the call over to Eric.

Thanks, Brian. Good morning, everyone, and welcome to our second quarter 2024 conference call. In the second quarter, we delivered strong results with higher production, disciplined capital spending, and meaningful free cash flow. Importantly, and consistent with our full-year plan, we returned $97 million to shareholders through our share buyback program and quarterly dividend. As we continue to execute our plans for 2024, our free cash flow is expected to strengthen in the second half of the year, allowing for increased shareholder returns and debt reduction. We increased production per share by 23% in Q224 compared to Q223, with production averaging more than 154,000 BOE per day 85% oil in NGLs. Our crude oil production, comprised of light oil, condensate, and heavy oil, increased 4% from Q124 to average over 110,000 barrels per day. We are executing our 2024 development plan with a tightened production guidance range of 152,000 to 154,000 BOE per day. At the midpoint, we continue to target 153,000 BOE per day for the year. Our 2024 Exploration and Development Expenditures Guidance is unchanged at $1.2 to $1.3 billion, and we expect to generate approximately $700 million of free cash flow in 2024, 75% weighted to the second half of the year. We intend to allocate 50% of free cash flow to the balance sheet and 50% to shareholder returns, which includes a combination of share buybacks and a quarterly dividend. Now I'll turn the call over to Chad Kalmakoff to discuss our financial results.