Good morning, ladies and gentlemen welcome to the Baytex Energy Corp 2015 Second Quarter Results Conference Call. Please be advised that this call is being recorded. I would now like to turn the meeting over to Mr. Brian Ector, Senior Vice President, Capital Markets and Public Affairs. Please go ahead. Mr. Ector.

Thank you, Anthony. Good morning, ladies and gentlemen and thank you for doing this today to discuss the second quarter 2015 financial and operating results. With me today are Jim Bowzer, our President and Chief Executive Officer; Rod Gray, our Chief Financial Officer and Rick Ramsay, our Chief Operating Officer. While listening please keep in mind as some of our remarks will contain forward-looking statements within the meaning of the applicable securities laws. I refer you to our advisories regarding forward-looking statements, oil and gas information and non-GAAP financial measures contained in today's press release. All dollar amounts referenced in our remarks are in Canadian Dollars unless other specified and I would now like to turn the call over to Jim.

Thanks, Brian and good morning everyone welcome to our second quarter conference call. I think as everyone is aware, these certainly are challenging times in oil and gas industry with the drop in crude prices over the last few weeks. The industry continues to respond to the challenges of declining cash flows, capital allocation decisions and then potentially increasing leverage. I will get to our operational update in a couple of minutes. But before doing so, I want to start today's call by addressing our shareholders. I know this hasn't been easy for you, over the past few weeks and it hasn't been easy for us. We are all shareholders of Baytex and I want to assure you that we will continue to manage our operations, in interest of creating long-term shareholder value. One of our key attributes of Baytex is our portfolio of projects. With strong capital efficiencies and attractive rates of return and these projects will serve us well as we move forward in a lower oil price environment. I want to start by talking about our financial position because we have already taken many steps to maintain strong levels of financial liquidity. These steps have included reducing our capital spending and monthly dividend, negotiating cost savings with service providers, amending our financial covenants, extending the term of our bank line, and completing an equity financing. Our balance sheet and liquidity were significantly enhanced during the second quarter, as we raised $606 million in equity, which was applied to reduce bank debt. In addition, there were no way incremental borrowings during the second quarter to fund our capital or dividend programs. Our credit facility consists of a $1 billion Canadian facility and a $2 million US facility. With the newly extended maturity date of June 2019. These facilities…

[Operator Instructions] Our first question comes from Nima Billou from Veritas Research. Please go ahead.

Thank you. There are no further questions retrospect this time I'd like to turn it over to the panel for closing remarks.

All right well thank you operator and thanks everyone for participating today in our second quarter conference call. Have a great day.