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July 31, 2012 11:00 am ET
Larry D. Pinkston – President and Chief Executive Officer
Brad Guidry – Senior Vice President, Exploration-Unit Petroleum Company
John Cromling – Senior Vice President, Drilling Operations
Robert Parks – Manager & President, Superior Pipeline Company
David T. Merrill – Senior Vice President, Chief Financial Officer and Treasurer
James Rollyson – Raymond James & Associates
Brian T. Velie – Capital One Southcoast
Phillip Jungwirth – BMO Capital Markets
Welcome to the Unit Corporation Second Quarter 2012 Earnings Conference Call. My name is John and I will be your operator for today’s call. At this time, all participants are in a listen-only-mode. Later, we will conduct a question-and-answer session. Please note that this conference is being recorded.
This conference call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act. All statements other than statements of historical facts included in this call that address activities, events, or developments that the company expects or anticipates will or may occur in the future are forward-looking statements.
A number of risks and uncertainties could cause actual results to differ materially from these statements, including the potential that the acquisition discussed in this conference call may not close, the impact of current decline in wells being drilled will have on product on production and drilling rig utilization, the productive capabilities of the company's wells, future demand for oil and natural gas, future drilling rig utilization and day rates; projected growth of the company's oil and natural gas production; oil and gas reserve information, as well as the ability to meet future reserve replacement goals; anticipated gas gathering and processing rates, and throughput volumes; the prospective capabilities of the reserves associated with the company's inventory of future drilling sites; anticipated oil and natural gas prices; the number of wells to be drilled by the company's exploration segment; development, operational, implementation and opportunity risks; possible delays caused by limited availability of third-party services needed in the course of its operations; possibility of future growth opportunities and other factors described from time to time in the company's publicly available SEC reports. The company assumes no obligation to update publicly such forward-looking statements whether as a result of new information, future events or otherwise.