Ensign Energy Services Inc.

Good afternoon, ladies and gentlemen, and welcome to the Ensign Energy Services Incorporated fourth quarter 2024 results conference call. At this time, all lines are in listen-only mode. Following the presentation, we will 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, March 7, 2025. I would now like to turn the conference over to Nicole Romano, Investor Relations. Please go ahead.

Thank you, Konstantin. Good morning and welcome to Enzyme Energy Services' fourth quarter and year-end 2024 conference call and webcast. On our call today, Bob Geddes, President and COO, and Mike Gray, Chief Financial Officer, will review Enzyme's fourth quarter and year-end 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 visibility 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 fourth quarter earnings release and CDAR 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. Happy to report to shareholders that the Ensign team ended the 2024 year executing on what we set out to accomplish in 2024. We reduced debt by $220 million. We generated $450 million of EBITDA. We held a tight rein on maintenance capex at $160 million, running about 100 rigs every single day. We grew our market share in Canada. We maintained market share in the U.S., We were 100% utilized in our Middle East and Latin American business units. We identified incremental growth opportunities of approximately $19 million that provided attractive payouts. We successfully upgraded roughly 20 rigs in the year provided with operator funding. And we expanded our drilling solution penetration by 25% year over year. And we ended the year with our second best safety performance in the company's history. In fact, we had three divisions that operated throughout the entire year without any incidents. With that, I'll turn it over to Mike for a financial summary of the fourth quarter, and then I'll come back to provide an operational update in each of the operating areas and also provide some color on how we see the markets moving forward. Mike?