Thank you, Steve. Welcome, everyone. Today's call will follow our usual format. Kevin will begin by providing a review of second quarter 2012 results. Steve and Roger will then follow with an operational update, after which questions will be taken.
Please keep in mind that some of the comments made during this call will be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. As such, no assurances can be given that these events will occur or that the projections will be obtained. A variety of factors exist that may cause actual results to differ. For further discussion of risk factors, see Murphy's 2011 annual report on Form 10-K filed with the SEC. Murphy takes no duty to publicly update or revise any of forward-looking statements. I'll now turn the call over to Kevin for his comments.
Kevin G. FitzgeraldThanks, Barry. Net income for the second quarter of 2012 was $295.4 million or $1.52 per diluted share. This compares to net income in the second quarter of 2011 of $311.6 million or $1.60 per diluted share. For the 6 months ending June 30, 2012, our net income was $585.5 million or $3.01 per diluted share compared to net income for the same period in 2011 of $580.5 million or $2.98 per diluted share. There were no unusual items of significance in the 2012 quarter or for the 2012 6-month period. However, the 2011 quarter did include $31.6 million, $0.16 per diluted share of income from discontinued operations related to the two U.S. refineries and associated marketing assets that were sold at the end of the third quarter of 2011. 2011 year-to-date results included income from the same discontinued operations of $62 million or $0.32 per diluted share and an after-tax gain of $13.1 million, $0.07 per diluted share from the sale of natural gas storage assets in Spain.