Parex Resources Inc.

Thank you for standing by. My name is Novi, and I will be your conference operator today. At this time, I would like to welcome everyone to the Parex Resources Q3 2024 Operational and Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. If you would like to, after the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, Simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. Thank you. I would now like to turn the call over to Mike Crookton, Senior Vice President of Capital Markets and Corporate Planning.

Good morning, everyone, and welcome to PARCS' third quarter 2024 conference call and webcast. On the call with me today are our president and chief executive officer, Ahmad Moulton, our intern chief financial officer, Cam Granger, and our chief operating officer, Eric Furlan. Please note that at any time, telephone participants on the call can press star one to submit a question. As a reminder, this conference call includes forward-looking statements as well as non-GAAP and other financial measures with the associated risks outlined in our news release and MD&A. which can be found on our website or at cedarplus.ca. Note that all amounts discussed today are U.S. dollars, unless otherwise stated. I'll now turn the call over to Ahmad. Please go ahead.

Thank you, Mike, and good morning, everyone. While we have faced some challenges throughout the year centered around Arauca, we are putting these in the rearview mirror and focusing on optimizing performance across our portfolio. The path forward is taking into account the lower corporate growth outlook than originally planned. Right now, we are fully engaged on delivering operational reliability, continuing to decrease capex where it makes sense, and prioritizing lower risk development and exploitation opportunities with strong capital efficiency. Regarding all of these priorities, we are making progress. Production levels have been stable and within management expectations, leading to an increased to increase our midpoint guidance from 29,000 DOE a day to 49,500,000 DOE a day, representing an additional 2,000 DOE per day for the first quarter, including an allowance for social disruptions. In conjunction, our conservative focus has resulted in updated our capital guidance, leading to projected higher fee fund flow of $220 million at midpoint of guidance range. Following reset expectations, I'm encouraged by our key effort performance, recent drilling results, and the direction we are heading for in 2025. I will now ask Eric to provide additional details on our operational performance.