Whitecap Resources Inc.

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Good morning, ladies and gentlemen. My name is Sylvie, and I will be your conference operator today. At this time, I would like to welcome everyone to Whitecap Resources' first quarter 2026 results conference call. All lines have been placed on mute to prevent any background noise. 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 then number one on your telephone keypad. And if you would like to withdraw your question, Please press start and number two. And I would like to turn the meeting over to Whitecaps President and CEO, Mr. Grant Fakerheim. You may begin your conference.

Thanks, Sylvia, and good morning, everyone, and thank you for joining us here today. There are five members of our management team here with me at this time, our Senior Vice President and CFO, Ton Kang, our Senior Vice President, Production and Operations, Joel Armstrong, our Senior Vice President, Asset Development and Information Technology, Dave Monbroquette, and our Vice President, Unconventional Division, Joey Wong, as well as our Vice President, Conventional Division, Chris Pullen. Before we get started today, I would like to remind everybody that all statements made by the company during this call are subject to the same forward-looking disclaimer and advisory that we set forth in our news release issued yesterday afternoon. We are once again pleased to report exceptionally strong operational and financial results for the first quarter of 2026. We are very proud to report that our technical and operations teams continue to deliver execution through an active first quarter capital program with asset productivity continuing to exceed expectations. Average crude oil and average production for the first quarter was 391,416 BUE per day, comprised of 242,000 BUE 242,107 barrels of liquids per day and 890 million cubic feet a day of natural gas, exceeding our budget expectations by approximately 19,000 BUE per day. Through top-tier execution and strong asset-level performance, this production level significantly outperformed our budget expectations for the first quarter. Expecting this performance to continue has prompted us to raise our 2026 production guidance As well, at current elevated light oil and condensate prices, this higher production is generating material higher cash flow. Combined with maintaining our $2 to $2.1 billion of capital program, this is driving increased funds flow and profitability relative to our original plan. Our first quarter funds flow of over a billion dollars or $0.84 per share, increasing 12% per share compared to the first quarter of 2025. After capital investments of $626 million, we generated $340 million of free funds flow. This allowed us to reduce net debt to $3.2 billion while returning $221 million to shareholders through our base dividend. Consistent with our long-term counter-cyclical capital allocation strategy, We will prioritize debt reduction in excess with excess cash flow at current commodity prices. This strengthens our financial flexibility to redeploy capital towards share purchases, accelerate growth, or tuck in consolidation opportunities in the future. The progress we have made since closing the Varon acquisition one year ago has been remarkable. Improvements within our control, including execution, well design, development planning, and production practices supported by rigorous technical analysis and cost discipline, have delivered the results we are experiencing today. Whitecap is positioned to capitalize on commodity price cycles inherent to our industry, and the current environment is no exception. Our operational execution allowed us to capture additional benefit of higher prices in March and April to date, as we have completed the first quarter capital program with all the planned light oil and condensate wells brought on production on or ahead of schedule prior to spring break-up. We were running 18 drilling rigs during much of the first quarter, and now we'll continue to run six rigs through break-up on our unconventional and glauconite assets, and we'll be ready to hit the ground running on our light oil conventional assets in Alberta and Saskatchewan once break-up subsides later in this second quarter. We are maintaining our 2026 capital budget, Any potential future adjustments will support increased production growth in 2027 within our 3% to 5% target should higher crude oil and condensate prices persist at this time. I will now pass it on to Tom to further discuss our financial results. Tom?