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August 2, 2012, 10:00 am ET
Floyd Wilson - Chairman & CEO
Mark Mize - EVP, CFO & Treasurer
Steve Herod - President
Leo Mariani - RBC Capital Markets
Ron Mills - Johnson Rice
Good day ladies and gentlemen and welcome to the Halcón Resources second quarter earnings conference call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. (Operator Instructions) As a reminder, this call maybe recorded.
I would now like to introduce your host for today's conference, Floyd Wilson, Chairman and Chief Executive Officer. Sir you may begin.
Good morning and thanks all for joining. This conference may certain forward-looking statements intended to be covered by the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. For a detailed description of our disclaimer see our earnings release issued this morning and posted to our website.
With me on the call today is our CFO Mark Mize and our President Steve Herod. This quarter represents the final RAM Energy only report and marks the beginning of our aggressive growth in value reporting. Welcome to Halcón Resources.
Since February 8th we have made significant progress towards our goal of building an oil weighted energy company with a substantial drilling inventory. The heavylifting with respect to acquiring the acreage necessary to achieve our goals is complete. We are now transitioning from lease acquisition to drilling and development. In fact, we have nearly 10 rigs running today.