Newfield Exploration (NFX) Q2 2012 Earnings Call July 25, 2012 8:30 am ET Executives Lee K. Boothby - Chairman, Chief Executive Officer and President Terry W. Rathert - Chief Financial Officer, Principal Accounting Officer and Executive Vice President Gary D. Packer - Chief Operating Officer and Executive Vice President Stephen C. Campbell - Vice President of Investor Relations Analysts Brian Lively - Tudor, Pickering, Holt & Co. Securities, Inc., Research Division Leo P. Mariani - RBC Capital Markets, LLC, Research Division David W. Kistler - Simmons & Company International, Research Division Brian Singer - Goldman Sachs Group Inc., Research Division David R. Tameron - Wells Fargo Securities, LLC, Research Division Subash Chandra - Jefferies & Company, Inc., Research Division Joseph Patrick Magner - Macquarie Research Anne Cameron - BNP Paribas, Research Division William B. D. Butler - Stephens Inc., Research Division Kenneth A. Carroll - Johnson Rice & Company, L.L.C., Research Division John P. Herrlin - Societe Generale Cross Asset Research Dan McSpirit - BMO Capital Markets U.S. Richard M. Tullis - Capital One Southcoast, Inc., Research Division Rudolf A. Hokanson - Barrington Research Associates, Inc., Research Division PresentationOperator
Good day, everyone and welcome to Newfield Exploration's Second Quarter 2012 Conference Call. Just a reminder, today's call is being recorded. And before we get started, one housekeeping matter. Our discussion with you today will contain forward-looking statements, such as estimated production and timing, drilling and development plans, expected cost reductions and planned capital expenditures. Although we believe that the expectations reflected in these statements are reasonable, they are based upon assumptions and anticipated results that are subject to numerous uncertainties and risks.