Saturn Oil & Gas Inc.

Good morning, ladies and gentlemen. Welcome to Saturn's second quarter 2026 results conference call. As a reminder, all participants are in a listen-only mode and the conference is being recorded. After management's remarks, there will be an opportunity to ask questions. To join the question queue, you may press star then 1 on your telephone keypad. Should you need assistance during the conference call, you may signal an operator We're pressing star then zero. I will now turn the meeting over to Ms. Cindy Gray, Vice President, Investor Relations. Please go ahead, Cindy.

Thank you, operator. Good morning, everyone, and thanks for joining us to hear management's remarks about our Q2 2026 results, along with commentary on our increased 2026 guidance. Please note that our Q2 financial statements, MD&A, and press release are all filed on CDAR Plus and available on our website. Some of the statements on today's call may contain forward-looking information, references to non-IFRS and other financial measures, and as such, listeners are encouraged to review the disclaimers outlined in our most recent MD&A. Listeners are also cautioned not to place undue reliance on these forward-looking statements, since a number of factors could cause the actual future results to differ materially from the targets and expectations expressed. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless expressly required by applicable securities law. For further information on our risk factors, please view the company's AIS, filed on CEDAR Plus, and on our website. And I would also note all amounts discussed today are Canadian dollars, unless otherwise stated. On today's call, we'll hear from John Jeffrey, Saturn's CEO, Justin Kaufmann, our Chief Development Officer, and Scott Sanborn, our CFO, followed by a Q&A. I'll now hand the call over to John.

Good morning, everyone, and thank you for joining us. Q2 was a standout period that truly showcased Saturn's abilities. With production of over 41,000 BOE a day, we again exceeded guidance and market expectations for the eighth consecutive quarter. Saturn generated cash flow of over $123 million, with more than $82 million of free funds flow. We achieved this while accelerating capital, making accretive acquisitions, repaying debt, and returning capital to shareholders, despite spring breakup conditions and weather-related downtime in June. One of Saturn's greatest competitive advantages is the flexibility of our asset base and the agility of our capital development program. With oil prices strengthening throughout the second quarter, we elected to accelerate capital from the second half of 2026 into Q2. and thanks to the strength of our development team, we were able to mobilize rigs about five weeks earlier than originally planned. This brought forward activity into a stronger oil price environment to further optimize our economics. In addition to our development drilling program in Q2, we pursued value creation through opportunities through tuck-in acquisitions. This continued into July with the acquisitions of Burgess Creek and Triland Energy. Both acquisitions are highly complementary to our existing Southeast Saskatchewan operations. They add material drilling inventory, increase infrastructure utilization, and further strengthen Saturn's scale in one of our highest return areas. The transactions were completed at less than two times cash flow and sub-PDP, exactly in line with our acquisition strategy and highlighting the value we can create through discipline consolidation. This exemplifies our blueprint strategy, acquiring assets that are contiguous to our existing operations with opportunities to optimize production, improve efficiencies, reduce operating costs, and deepen our long-term development inventory. That implies to build on this success and we'll continue pursuing opportunities to further consolidate in all of our core areas. Also in July, Saturn priced a new dual tranche US Canadian dollar denominated senior unsecured note as well, and announced the planned redemption of our senior secured notes. This transaction represents an important evolution of our capital structure. Not only does this refinancing reduce our effective interest rate by over 200 basis points, it extends our maturity profile by 24 months out to 2031. We have significantly improved our financial flexibility by moving to an unsecured note structure with a more relaxed covenant framework and enhanced our control over capital allocation. Rather than a mandatory 10% amortization payment each year, the new notes feature a semi-annual offer to repurchase at 2.5% of the principal. Concurrent with our Q2 results yesterday, we also issued increased guidance for 2026. and an updated outlook that reflects continued outperformance in the field, recent successful acquisitions and enhanced financial flexibility due to that refinancing. Our updated 2026 guidance reflects meaningfully higher activity levels throughout the balance of this year, resulting in stronger cash flow generation and greater organic growth over our original guidance. We anticipate net debt to perform an adjusted EBITDA year-end 2026 to improve to approximately 1.4 times compared to 1.6 times under our original guidance. This is even more compelling given that we expect leverage metrics to improve with the expanded capital program, accretive acquisitions, and accelerated growth. This outcome highlights both the quality of the assets we've acquired and the strength of our underlying business. Saturn continues to evolve, becoming a larger and more profitable company. I want to congratulate our team for their efforts in delivering results for our shareholders and for the team's unwavering commitment to safety. Success is truly realized when all employees get home safely to their families at the end of every day. I'll hand over to Justin to walk through our plan development program that underpins our increased 2026 cash flow and free cash flow profile. Justin?