Good morning. My name is Mariama, and I will be your conference operator today. At this time, I'd like to welcome everyone to the SandRidge Energy Fourth Quarter and Full Year 2017 Earnings Conference Call. [Operator Instructions] Thank you. I would now like to turn the call over to Johna Robinson, Investor Relations. You may begin your conference.

Thank you, Operator, and welcome everyone to the conference call. With me today are Bill Griffin, President and Chief Executive Officer; John Suter, EVP and Chief Operating Officer; and Mike Johnson, Chief Financial Officer. We would like to remind you that in conjunction with our earnings release and conference call, we have posted slides to our website under the Investor Relations tab that we'll be referencing during the call. Keep in mind today's call contains forward-looking statements and assumptions which are subject to risk and uncertainty, and actual results may differ materially from those projected in these forward-looking statements. We will also make reference to adjusted G&A, and other non-GAAP financial measures. Reconciliations of these measures can be found on our website. Now, let me turn the call over to Bill.

Good morning, and thank you for joining us today for this review of SandRidge Energy's 2017 performance results along with a discussion about our 2018 expectations, focus and guidance. Today's conversation will be supported with the February 2018 earnings presentation that was posted on our website earlier this morning, and I encourage you to turn to that for reference. As a matter of introduction, I was named the interim-President and CEO of SandRidge on February 8. Additionally and simultaneously, Mike Johnson was named our interim-Chief Financial Officer. Because change creates a level of uncertainty, I feel that's important to devote a meaningful portion of today's call to outlining my personal and the company's strategic priorities as we begin this new chapter. I won't spend time elaborating on the details of our individual background but it is relative to mention that I've been a member of the SandRidge Board of Directors since the Company's emergence in October of 2016. Additionally in partner to SandRidge, I previously spent four years of my career here in Oklahoma City managing engineering and operations for this area. Later I had executive level responsibilities that included all aspects of the E&P business in both the Mid-Continent and the Rocky Mountain regions. I would also like to mention a few things that are important when evaluating this particular senior leadership team and first and foremost is that this is an experienced and proven group. Experienced in our respective areas of responsibility, I am very experienced in the U.S. upstream oil and gas business. I personally have spent more than 36 years in this industry, and most of the past 20 years at the executive level. Mike Johnson who joined SandRidge last year after most recently spending his previous 24 years with Chesapeake as their Controller and Chief…

Thank you, Bill. And by way of further introduction, I have been employed at SandRidge for roughly 6 months now. I came here following 24 years at Chesapeake Energy with most of those years in the role of Senior Vice President and Chief Accounting Officer. At SandRidge I'm currently serving the company as Chief Accounting Officer and will assume the additional responsibility of interim-CFO after we file our Form-10K. I'm honored to step into this role and I'm eager to do what I can to address both the challenges and opportunities ahead. Now I’d like to address where we stand from a financial standpoint. My thoughts and comments will broadly cover the financial data included in our earnings release and various slides included in the investor presentation with an emphasis on Slide 8. Beyond this small $38 million building note which will be paid off later this month, we have no debt outstanding whatsoever. We have $418 million in liquidity currently available under our revolving credit facility and $78 million in cash. This strong position will allow us to develop our portfolio of assets and take advantage of growth opportunities as they arise while carefully managing our liquidity and maintaining conservative leverage. As illustrated in our earnings release, 2017 LOE adjusted G&A and CapEx all came in at or under the midpoint of our guidance and our total production volumes exceeded the midpoint. Production for 2017 was 14.9 million barrels of oil equivalent. For 2018 our guidance is 11.3 million to 11.9 million barrels of oil equivalent, a 22% reduction year-over-year at the midpoint. The lower forecasted volumes reflect the impact of the natural decline of our PDPs partially offset by additional production resulting from our two rig drilling program in 2018. More specifically, our Mississippi line production is the…

Thank you, Mike. I'm pleased with the team's 2017 performance and successfully achieving all of our objectives for the year which I'll cover in detail beginning on Slide 9. In addition to meeting our operational goals, we also achieved a company record for safe operations with an annual total recordable incident rate of 0.4. As Bill described earlier, safety will continue to be a key tenet of our culture. We successfully met or exceeded our operational guidance in 2017. Our total company capital expenditures were $248 million, $7 million below midpoint of guidance. We also delivered at the high-end of guidance range with annual production of $14.9 million barrels oil equivalent comprised of 28% oil, 23% NGLs, and 49% natural gas. Also as anticipated, during the fourth quarter oil production increased approximately 8% over the third quarter to over 1 million barrels of oil. This increase is primarily from new North Park Basin wells. As you will note on the right side of this slide, we've been very active throughout the year in North Park accomplishing several initiatives that I'll cover later. For the year total company lease operating expenses were $6.89 per BOE which is $0.19 below midpoint of guidance. We were able to reduce our lease operating guidance twice primarily from efficiency and cost reduction gains in the Mid-Continent. As shown on Slide 10, we significantly lowered Mississippian and LOE over the past three years from $160 million in 2015 to $71 million in 2017. More recently, we captured 29% in cost reductions from 2016 to 2017. During the year, we continued to expand our operation center which now remotely oversees all by exception operations in the field. By centralizing supervision and dispatch, we reduced associated headcount by 28% and were able to reduce water all-in cost by…

Thanks John. As I wrap up today's presentation with our 2018 outlook on Slide 20, it's important to realize that this company - the progress this company has made and continue to make as we make some difficult and significant changes. These actions are driven by our strategic objectives and are focused on creating the most effective and efficient possible organization sized to fit our existing asset base, while maintaining our core competencies. Our commitment is to expedite this change process and mitigate the impact across all spectrums. The foundation for success is already in place at SandRidge and has been demonstrated by the positive results discussed today. We entered 2018 with a revised strategy and strong platform for economic growth. We will renew our focus on increased profitability of our Mississippian Lime position. We will continue to prudently develop, delineate and quantify the value of our Northwest STACK and North Park Basin assets. Our 2018 program includes a modest outspend of cash flow. However, we will be diligent in our stewardship of the balance sheet, and our allocation capital to the best possible risk-adjusted return opportunities. We will stringently monitor near-term and long-term results to ensure the overall returns on total capital achieved or exceed thresholds. While our focus will be on the fundamentals, we will work diligently to identify and evaluate both acquisition and divestiture opportunities that fit our strategic objectives, and value creation expectations. We are committed to transparency and encourage open dialogue, and I truly look forward to updating you on our progress in a few months. That concludes our prepared remarks. However, before we take questions, I would like to remind everyone that the purpose of today's presentation was to discuss our 2017 earnings and operational results along with our outlook and guidance for 2018. We will not be providing any additional information on unrelated items at this time but are happy to address any questions you may have related to our earnings release and today's presentation. Thank you.

[Operator Instructions] You have a question from the line of [indiscernible] from Titan Capital. Your line is open.

Relative to the Mississippi Lime, would you talk about your long-term focus on production there? You mentioned that focus in 2018 is on increasing profitability. Where are your thoughts relative to production over the long period of time?

Well I guess to begin with, I would offer that I bring a new set of eyes to - looking at this asset. The Mississippi Lime is the key cash generator for the company and we've learned over the years that it's not a blanket resource play where you park a rig and run it nonstop without thinking about the specifics of the geology and the complexity there. Meaning that each location is unique and has its own pros and cons. And so one of my commitments coming into this job is to do a deep dive into this asset base and look at those undeveloped opportunities. John and his team have already done a good job and continue to do a good job on looking at the profitability side but the decline is still significant there and we're going to do what we can to mitigate it. As we reassess, I would say more the undeveloped potential of this large asset-base - large acreage position, we will keep in mind each and every one of these opportunities with regard to potential capital allocation in the future whether it's this year or in the out years. There's a lot of oil in place, lot of gas in place across this acreage position, and I'm confident there are numerous additional commercial locations to be drilled. So as we go back and revisit all of this, it will continue to be in the queue for consideration for capital allocation although right now we don't have any current plans to drill.

We are out of time for questions. I will now turn the call back over to Bill Griffin for closing remarks. Again I thank you for your time today and encourage you to reach out with any additional questions you may have. I appreciate it and look forward to visiting with you again in three months. Thank you.

This concludes today's conference call. You may now disconnect.