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July 25, 2012, 09:00 am ET
Jim Landers – VP, Corporate Finance
Ben Palmer – VP, CFO and Treasurer
Rick Hubbell – President and CEO
Neal Dingmann – SunTrust
Andrea Sharkey - Gabelli & Company
John Daniel - Simmons & Company
Doug Garber – Dahlman Rose
Luke Lemoine - Capital One
John Lawrence - Tudor, Pickering, Holt
Michael Marino - Stevens Incorporated
Ben Swomley - Morgan Stanley
Jeffery Spittel - Global Hunter Securities
Good day, ladies and gentlemen, and welcome to the RPC second quarter earnings conference call. As a reminder, today's conference is being recorded. Now, I'd like to turn the conference over to your host, Mr. Jim Landers. Please go ahead, sir.
Thank, you, (Katherine), and good morning. Before we begin our call today, I wanted to remind you that in order to talk about our company, we're going to mention a few things that are not historical facts.
Some of the statements that we made on this call could be forward looking in nature and reflect a number of known and unknown risks. I'd like to refer you to our press release issued today along with our 2011 10-K and other public filings that outline those risks, all of which can be found on RPC's website at www.rpc.net.
I also need to tell you that in today's earnings release and conference call, we'll be referring to EBITDA which is a non-GAAP measure of operating performance. RPC uses EBITDA as a measure of operating performance because it allows us to compare performance consistently over various periods without regard to changes in our capital structure.