Ensign Energy Services Inc.

Good afternoon, ladies and gentlemen, and welcome to the Enzyme Energy Services, Inc. conference call. All lines that are placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, simply press star one on your telephone keypad. If you'd like to withdraw a question, please press star two. Thank you. I would now like to turn the conference over to Nicole Romano, Investor Relations. You may begin your conference.

Thank you, Julie. Good morning and welcome to Ensign Energy Services' first quarter conference call and webcast. On our call today, Bob Geddes, President and COO, and Mike Gray, Chief Financial Officer, will review Ensign's first 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 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 first quarter earnings release and see our 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. Good morning, everyone, and thanks for joining our call this morning. I'm pleased to report that, once again, the Enzyme team continues to deliver on debt reduction along with increased free cash flow and margin expansion. Since 2019, Enzyme has clipped off close to half a billion dollars of debt off the balance sheet, that while executing on a few opportunistic acquisitions, which are generating strong EBITDA margins and free cash flow today. We saw the usually busy Canadian first quarter winter somewhat muted by the effect of abnormally cold weather, which affected operations. We had a week of 40 below, and we are seeing a paradox develop in the U.S. for record oil production, extremely low levels of ducks combined with decline rates not translating into rig activity. More on this later. This quarter's results emphasize the benefits of being a global player. While the US and Canada were off in the quarter, more so in the US and Canada, our international business segment was up in the quarter year over year. Once again, our global footprint helps to de-risk the company and provide lower beta risk on any geopolitical or specific commodity pricing differentials, which may occur in different places around the world. The impact of the TMX will lead to increased activity in the Western Canadian sedimentary basin due to compressed differentials, but gas pricing remains a challenge worldwide, with Europe emerging from a two-sigma warm winter and storage at 60% full at the end of April. I would be remiss if I didn't mention that the excellent operational performance in the first quarter was achieved with a reduction in incidences over a year and with the team delivering the second-best safety record in Enzyme's history. I'll turn it over to Mike, our CFO, for a deeper dive into the financial results for the Corps. Mike? Thanks, Bob.