8/7/2026

speaker
John
Conference Operator

Good morning, ladies and gentlemen, and welcome to Ensign Energy Services Inc. Second Quarter 2026 Assaults Conference Call. At this time, all lines are in a 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, August 7, 2026. I would now like to turn the conference over to Trevor Russell, CFO. Please go ahead.

speaker
Trevor Russell
Chief Financial Officer

Thank you, John. Good morning and welcome to Enzyme Energy Services' second quarter conference call and webcast. Our call today is Bob Geddes, President and CEO, and myself, Trevor Russell, Chief Financial Officer. Today we will review Enzyme's second quarter highlights and financial results, followed by our operational update and outlook. will then open the call for questions. On our discussion today, our discussion today may include forward-looking statements based on current expectations that involve several business risks and uncertainties. The factors that could result 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 that 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 second quarter earnings release and see our PLUS filings for 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, Trevor.

speaker
Bob Geddes
President and CEO

So, we've had a busy quarter reactivating and upgrading rates of contracts, which caused some one-time expenses in the quarter with respect to upgrades. In most cases, the operator has funded those upgrades in various areas of the world. We also announced the Citadel Drilling Acquisition, which is expected to close next week, and which will have six active 2,000 horse power ready for a Permian fleet. We clipped another $30 million of debt in the quarter, and we continue to reduce our interest expense by 13%. We achieved this year-over-year improvement, both on the top line and the bottom line, with record operational safety results. I'll turn it back to Kerber for a deeper dive in our first quarter financial results. Kerber?

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