Ensign Energy Services Inc.

Good afternoon, ladies and gentlemen, and welcome to the Ensign Energy Services Inc. Third Quarter 2023 Results Conference Call. At this time, all lines are in a listen-only mode. Following the presentation, we'll conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Friday, November 3rd, 2023. I would now like to turn the conference over to Nicole Romano, Investor Relations. Please go ahead.

Thank you, Julie. Good morning and welcome to Ensign Energy Services' third quarter conference call and webcast. On our call today, Bob Geddes, President and COO, and Mike Gray, Chief Financial Officer, will review Ensign's third quarter highlights and financial results, followed by our operational update and outlook. We'll then open the call for questions. Our discussion today may include forward-looking statements based upon current expectations that involve several business risks and uncertainties. The factors that could cause results to differ materially include but are not limited to political, economic, and market conditions, crude oil and natural gas prices, foreign currency fluctuations, weather conditions, the company's defense of lawsuits, the ability of oil and gas companies to pay accounts receivable balances, or other unforeseen conditions which should could impact the demand for services supplied by the company. Additionally, our discussion today may refer to non-GAAP financial measures such as adjusted EBITDA. Please see our third quarter earnings release and CDAR filings for more information on forward-looking statements and the company's use of non-GAAP financial measures. With that, I'll pass it on to Bob.

Thanks, Nicole, and welcome, everyone. Enzyme had a steady quarter into what we see as a developing constructive. for the land-based drilling business moving forward worldwide. We saw static margins in North America through the third quarter and an increase in our margins in our international business unit through the third quarter. Oil and gas prices remain relatively strong, while activity in the back half of 2023 was challenging. This enigma is a consequence of record M&A activity and continuing balance sheet discipline by the oil and gas companies. Nonetheless, whilst we see some buffer on activity in the third quarter continuing into the fourth quarter, Enzyme has clipped another $54 million of debt in the quarter and is well on the path to reducing debt $800 million through to the end of 2026. I'll turn it over to Mike for some details.