Baytex Energy Corp.

Thank you for standing by. This is the conference operator. Welcome to the Baytex Energy Corp. Second Quarter 2026 Financial and Operating 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 Chris Lessoway, Vice President of Finance and Treasurer. Please go ahead.

Thank you, operator. Good morning and welcome to Bay Texas second quarter 2026 results conference call. Joining me today are Chad Lundberg, our president and chief executive officer, Kendall Arthur, our chief operating officer, and Chad Kalmakoff, our chief financial officer. Before we begin, please note that our discussion today contains 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-gap financial and capital management measures in yesterday's press release. All dollar amounts referenced in our remarks are in Canadian dollars unless otherwise specified. After our prepared remarks, we'll open the call for questions. Webcast participants can also submit questions online. With that, let me turn the call over to Chad.

Good morning. Q2 is another strong quarter. production average 71,200 BUE per day, above the high end of our guidance for the second straight quarter with continued outperformance across our heavy oil portfolio and first well results from our southern land block in the Duvernay that we call Gilby. We repurchased 22 million shares for $139 million and exited the quarter with net cash of $566 million. With strong well performance to date, full year production guidance has been raised to 71,000 BUE per day, up 1,000 from the midpoint of prior guidance, with a targeted exit rate of 72,000 BUE per day. There is no change to our capital program of $625 million. Momentum is building with a renewed interest in Baytex as we continue executing our strategy. We have a clean balance sheet Deep Inventory, and a team executing with discipline. Our Q2 results reflect that. I am pleased to announce the appointment of two new directors, Derek Evans and Deanna Zumwalt. These appointments enhance an already strong board with depth in resource development and energy finance that is directly relevant to our strategy. Growing production, capitalizing on opportunities in our portfolio, and building toward our 15% total shareholder return target. Thank you, Steve Ranish and Jeffrey Wojan for your significant contribution to Baytex. I'll now turn the call over to Kendall to walk us through operations, including our heavy oil and duvernay results, the waterfud pilots and our second half program.