Baytex Energy Corp.

Good day, everyone. Thank you for standing by. This is the conference operator. Welcome to the Baytex Energy Corp third quarter 2024 financial and operating results conference call. As a reminder, all participants are in a listen-only mode. 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 and one on a 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 and zero. I would now like to turn the floor over to Brian Echter, Senior Vice President, Capital Markets and Investor Relations. Please go ahead.

Thank you, Jamie. Good morning, ladies and gentlemen, and thank you for joining us to discuss our third quarter 2024 financial and operating results. Today I am joined by Eric Greger, our President and Chief Executive Officer, Chad Kalmakoff, our Chief Financial Officer, and Chad Lundberg, our Chief Operating Officer, who is joining us today from our Houston office. 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 the analysts. In addition, if you are listening in today via the webcast, you will have the opportunity to submit an online question. And time permitting, we will strive to answer your questions. With that, I would now like to turn the call over to Eric.

Thanks, Brian. Good morning, everyone, and welcome to our third quarter 2024 conference call. We're pleased with our third quarter results, which demonstrate continued, solid operational performance, as well as our commitment to generating meaningful free cash flow and the delivery of strong shareholder returns. During the third quarter, we generated $220 million of free cash flow, returned $101 million to shareholders through the share buyback program and quarterly dividend, and reduced net debt by 5%. Over the last five quarters, we've returned almost $500 million to shareholders. We have bought back 75 million common shares for $387 million, representing approximately 9% of our shares outstanding, and paid total dividends of $92 million. We have also reduced our net debt by 12% over the last four quarters. We increased production per share by 10% in Q3 2024 compared to Q3 2023, with production averaging more than 154,000 BOE per day, 86% oil and NGLs. Our crude oil production, comprised of light oil, condensate, and heavy oil, increased 2% from Q3 2023 to average over 112,000 barrels per day. I'd like to turn the call over to Chad Kalmacoff to discuss our financial results.