We believe these three tenets have produced industry leading shareholder returns and returns on investment capital. We will also discuss Core's long health philosophy of returning excess capital back to our shareholders.And then Dick will follow with a detailed financial overview and additional comments regarding building shareholder value and Core's general industry outlook for 2012, which confirm our confidence in the trends of increasing activities in unconventional oil reservoirs in North and South America and especially international and deep water activities tied to crude oil developments worldwide. Core cannot give specific Q2 revenue and earnings guidance as the company is in the process of a dual listing of our shares on the NYSE Euronext exchange in Amsterdam. We expect this listing to take place in mid May. Then Monty will go in Core's three operating segments detailing our progress and discussing the continued successful introduction of new Core Lab technologies and services and then highlighting some of Core's operations and major projects. And then we'll open the call for a Q&A session. I'll turn it over to Dick for remarks regarding forward-looking statements. Dick? Dick Bergmark Thanks, David. Before we start the conference this morning I'll mention that some of the statements that we make during this call may include projections, estimates, and other forward-looking information. This would include any discussion of the company's business outlook. These types of forward-looking statements are subject to a number of risks and uncertainties relating to the oil and gas industry, business conditions, international markets, international political climate and other factors including those discussed in our '34 Act filings that may affect our outcome. Should one or more of these risks or uncertainties materialize or should any one of our assumptions prove incorrect actual results may vary in material respects from those projected in the forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
For more detailed discussion of some of the foregoing risks and uncertainties see item 1A risk factors in our annual report on Form 10-K for the fiscal year ended December 31, 2011, as well as the other reports in registration statements filed by us with the SEC.Our comments include non-GAAP financial measures, reconciliations to the most directly comparable GAAP financial measures are included in the press release announcing our first quarter results. Those non-GAAP measures can also be found on our website and with that said I'll pass the discussion back to Dave. David Demshur Okay. Thanks Dick. I'd like to give a quick investor update. Core's operations produced another solid quarter as the company continued to benefit from our continued focus on and the increase in international and deepwater offshore activities and unconventional oil plays in response to higher oil prices and dwindling global spare oil producing capacity. The focus on crude oil related projects continued to build in the 2012 as we discussed the projected decrease in natural gas drilling in North America on our three previous conference calls. Therefore, Core's revenue mix now is closer to 80% oil and 20% natural gas, a shift from the previous 70-30 mix that we had last year. Moreover, most of these natural gas projects related to an emanate from the international theater and are LNG related. This would be in the Eastern Mediterranean, East Africa, and Western Australia. Turning specifically to our operations, Core's reservoir description results reflected the focus again away from natural gas and the positive increases in both international and deepwater activities which continued to strengthen into 2012. Also our first quarter 2012 results were bolstered by North American activity levels in oil shale reservoirs and increased activities in tight sands in the Permian Basin of West Texas. This drove incremental margins for production enhancement.
And finally, reservoir management posted another strong quarter reflecting additional oil company support for its joint industry projects in oil shale reservoirs and international areas of interest like deepwater East and West Africa. Our growth strategies and the execution by our operating units continued to serve our clients, our employees and our shareholders well.Read the rest of this transcript for free on seekingalpha.com