Ensign Energy Services Inc.

Good afternoon, ladies and gentlemen, and welcome to the Andine Energy Services' second quarter 2024 results conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. Instructions will be provided at that time for you to queue up for a question. If anyone has any difficulties hearing the conference, please press star zero for operator assistance at any time. I would now like to turn the conference over to Nicole Romano, Investor Relations. Please go ahead.

Thank you, Jenny. Good morning and welcome to Enzyme Energy Services' second quarter conference call and webcast. On our call today, Bob Geddes, President and COO, and Mike Gray, Chief Financial Officer, will review Enzyme's second 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 the services supplied by the company. Additionally, our discussion today may refer to non-GAAP financial measures such as adjusted EBITDA. Please see our second quarter earnings release and CDR Plus 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. I'll provide some introductory commentary. The second quarter was one of the strongest quarters in Enzyme's history, buoyed by strong and increasing demand for our Canadian rigs, especially our high-spec singles, doubles, and triples, which provided a 15% increase year-over-year for the quarter. We also saw a year-over-year increase in our highly active international business unit, where we operate in six different countries, and where we saw marginal year-over-year increases in activity. In contrast, our U.S. business unit is seeing reduced activity across the board, as M&A activity sorts itself out through the rest of 2024. With steady margins and solid activity levels generally around the globe, we have been able to address another $80 million of debt reduction in the quarter and stay on the path to reduce $600 million of debt over the next three years with a solid cash flow streaming into a building book and increasing margin construct. I'll pass it over to Mike to expand on that.