Calfrac Well Services Ltd.

Good day, everyone, and thank you for standing by. Welcome to CalFrag Wealth Services' second quarter 2024 earnings release and conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To participate, you will need to press star 1-1 on your telephone. You will then hear a message advising your hand is raised. to withdraw your questions, simply press star 11 again. Please be advised that today's conference is being recorded. Now I will hand the call over to the Chief Financial Officer, Michael Olenek. Please proceed.

Thank you, Carmen. Good morning and welcome to our discussion of CalFRAC's second quarter 2024 results. Joining me on the call today is Pat Powell, CalFRAC's CEO. This morning's conference call will be conducted as follows. Pat will provide some opening commentary, after which I will summarize the financial performance and position of the company, after which Pat will then provide an outlook for Calfrex Business and some closing remarks. Following the completion of these remarks, we will open the conference call to questions. In a news release issued earlier today, CALFRAC reported its second quarter 2024 results. Please note that all financial figures are in Canadian dollars unless otherwise indicated. Some of our comments today will refer to non-IFRS measures, such as adjusted EBITDA. Please make sure to check on these financial measures. Our comments today will also include forward-looking statements regarding CALFRAC's future results and prospects. We caution you that these forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause our results to differ materially from our expectations. Please see this morning's news release and CALFRAC's CEDAR filings, including our 2023 Annual Information Form, for more information on forward-looking statements and these risk factors. As we have previously disclosed, the company is committed to a plan to sell its Russian division and has designated the assets, liabilities, and operations in Russia as held for sale and discontinued operations in the financial statements. As a result, the focus of the remainder of this call will be on Calfract's continuing operations in North America and Argentina, unless otherwise specified. Now, I will pass the call over to Pat.

Thanks, Mike. Good morning. Thanks for joining our call today. Before Mike provides the financial highlights for the second quarter, I'll offer some opening remarks. During the second quarter, we were able to generate increased results mainly by our customers transitioning to a more level loading of programs throughout the year, especially in Canada. The more traditional shutdown over spring breakup seems to be becoming more of a thing of the past. This has been made possible because of the better road infrastructure in the areas where we now work and, of course, by the use of off-road and location matting that is being more widely used today. The quarter was also impacted by our customers' decision to move more of their programs into the early spring. to not have to deal with the forest fires that caused many unplanned shutdowns last year, and the chance of a dry summer and prolonged drought conditions effect on the available water supply to complete the frac. Helping our Canadian crews to look after this condensed workload was our centrally located located Gold Creek Transload Facilities, which are south of Graham Prairie, right kind of in the middle of where a lot of our work is done. So coupled with these facilities is we had invested in a new fleet of 30 Super B large volume sand hauling units. This investment in the equipment gave us the ability to not only look after our customers' needs, but also enabled us to set company records for the amount of prop and pump during our fracking operations for two consecutive months. Another record was attained by our coil tubing group, which milled out the most plugs in a 12-hour period in its history. It's these types of well-run, improving operations that make our long-term customers want to continue to do business with us and hopefully attract customers. other customers to use our services. As part of our strategic objective to improve the quality of our assets in the field, we have 49 Tier 4 DGB cat-on-cat pumps serving our customers today and anticipate operating the equivalent of five dual-fuel fleets in North America by early next year. As we modernize our equipment, safety remains top priority as evidenced by the reduction in our 12-month trailing TRIF from 0.87 to 0.77 during the quarter. I'm proud of the way that our team executed for our customers during the second quarter and look forward to making progress on our strategic priorities. I will now pass the call back over to Mike who will present our quarterly financial performance.