Thank you for standing by. This is the conference operator. Welcome to the Source Energy Services second quarter 2025 results conference call. As a reminder, all participants are in a listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the queue, you may press star then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star then zero. I would now like to turn the conference over to Scott Melbourn, CEO. Mr. Melbourn, please proceed. Thank you, operator. Good morning and welcome to Source Energy Services second quarter 2025 conference call. My name is Scott Melbourn. I'm the CEO of Source. I'm joined today by Darren J. Newell, our CFO. This morning, we will provide a brief overview of the quarter, which will be immediately followed by a question and answer period. Before I get started, I would like to refer everyone to the financial statements and the MD&A that were posted to SEDAR and the company's website last night, and remind you of the advisory on forward-looking information found in our MD&A and press release. On this call, Source's numbers are in Canadian dollars and metric tons, and we will refer to adjusted gross margin, Adjusted EBITDA, and free cash flow, which are non-IFRS measures as described in our MD&A. Except for the items just mentioned, our financial information is prepared in accordance with IFRS. During this quarter, work progressed on two strategically important capital projects. The first project is the expansion of the Peace River facility, where new washing capacity has been added to support the dryer installed in the first quarter. Additional processing equipment will be installed in the third quarter, which will be the final step to increase the facility's production capability to over 1 million tons. Construction also continued on the new Taylor Terminal. We expect the full facility will be operational within the next 30 days. Underpinning these strategic projects is our belief that the continued development of the Montney will be a key driver for activity in the industry. In response to this growth, Source focused on enhancing its logistics capability in Northeast British Columbia with the expansion of the Chetwynd Terminal, development of the Taylor Terminal, and the acquisition of the trucking assets. When these logistics capabilities are combined with the Peace River facility, Source can provide an unparalleled mine-to-well-site offering for both Northern White and domestic sand. Ultimately, by utilizing our Northern White and domestic sand offerings, we're able to offer the lowest landed cost in the region. Completion activity remained very strong for the second quarter of 2025, which led to numerous highlights for the quarter, including a new record for sales volumes of 1.1 million metric tons, breaking the previous record set in Q1 of 2025. Record last mile volumes delivered to our customers' well sites and 83% utilization of the 11-unit Sahara fleet. Sand revenue of $161.5 million, while total revenue was $201.9 million, a $25.5 million increase from the same period last year. Gross margins reached $36.7 million, while adjusted gross margin was $48.6 million, reflecting increases of 13% and 15% over the prior year. Adjusted EBITDA was $35.2 million, a $4.4 million improvement from the second quarter of 2024. The normal course issuer bid that we implemented earlier this year repurchased and canceled 225,000 shares during the quarter. We commenced transloading of hydrofluoric acid at our Chetwynd Terminal, and on June 30, we received a remission order from the Canadian government, which reverses and refunds all tariffs imposed earlier this year on frac sand imported from the U.S. This is good news for the industry and for all of our customers. Before Darren reviews our quarterly financial results, I want to highlight that our efforts to strengthen performance and reduce debt are yielding results. As of quarter-end, our net debt to EBITDA ratio is slightly over our one-time target, and our focus remains on continuing to build a resilient business across all economic conditions. With that, I'll turn it over to Darren. Thanks, Scott. As Scott mentioned, Source sold 1,094,000 metric tons of sand in Q2 2025, from which we generated $161.5 million in sand revenue. Sand volumes were 19% higher than in 2024, while sand revenue increased $21.4 million. Source's ability to reliably service the large completions jobs has allowed us to continue to capture key customers, particularly in Northeast British Columbia. It has also allowed us to set another record for the largest daily sand volume fed into the blender in 24 hours. A 17% increase in sales of 100 mesh lowered the average sand sales price during the quarter. There were minimal mine gate sales in the quarter. The broad spectrum of mine production sold through more 100 mesh and mine gate sales has a favorable impact on production costs by creating sand processing efficiencies throughout the year. Well Site Solutions' revenue for Q2 2025 was $39.2 million, an increase of $3.9 million or 11% compared to Q2 2024. Higher sand sales volumes impacted volumes hauled to the well site, resulting in higher trucking revenue for the quarter. The U.S. Sahara fleet was 100% utilized, while the Canadian fleet was 77% utilized in the quarter. Terminal services revenue was $1.2 million, an increase of $0.3 million compared to the second quarter of 2024. Due to higher revenue from chemical elevation volumes realized in the period, including the impact of the addition of hydrofluoric acid transloading at the Chetwynd Terminal, cost of sales, excluding depreciation, increased by $19.1 million for the quarter compared to the same period in 2024. Due to increased sand sales volumes sold and higher truck volumes, on a per-ton basis, cost of sales was lower due to lower production costs and a shift in terminal mix compared to the second quarter of 2024, despite the impact of a weaker Canadian dollar. People costs and repairs and maintenance expenses were higher due to the impact of the sand trucking assets purchased last year. The weaker Canadian dollar contributed to an increase of $1.49 per metric ton on the U.S. dollar denominated components of cost of sales compared to the same period last year. The currency impact was largely offset by the currency impact on the U.S. dollar denominated revenue for the quarter. Adjusted gross margins benefited from higher sales volumes, higher volumes trucked to the well site, and the incremental gross margin generated from the sand trucking assets acquired last year. Excluding gross margin from mine gate volumes, adjusted gross margin was $44.49 per metric ton compared to $46.16 per metric ton in Q2 2024. The 17% increase in sales of 100 mesh compared to the second quarter of 2024 reduced adjusted gross margin by $0.65 per metric ton. We also saw higher terminal costs in the quarter due to the commencement of operations at Taylor and higher costs associated with the expanded operations at Chetwynd Terminal. The weaker Canadian dollar negatively impacted adjusted gross margin by $0.31 for the quarter. Total operating and G&A expenses increased by $1 million compared to Q2 2024. Operating expenses in Q2 2025 increased by $2.1 million due to higher people costs attributed to the higher activity levels, higher selling and administrative costs related to increased royalties on shipments from mines with royalties, and higher insurance costs. Repairs and maintenance were higher for Source 's railcar fleet, and there were incremental costs related to the trucking and the ramp-up of the Taylor Terminal facility. General and administrative expenses decreased $1 million in the quarter compared to Q2 2024, primarily due to lower variable incentive costs, partly offset by increased IT expense as we amortized the implementation of the costs for the new GL system put in last year. Finance expenses were $7.2 million for Q2 2025, a decrease of $1.5 million compared to last year. The reduction was driven by lower accretion expense as well as lower interest expense incurred on long-term debt. Source Energy Services recognized interest income on the commencement of the subleases for the Sahara well site mobile sand storage and handling system units deployed into Alaska and cash balances on hand. These reductions were partially offset by higher interest incurred for the outstanding lease obligations driven by the timing of the addition and replacement of heavy equipment leases in the latter half of 2024. At quarter end, Source Energy Services had liquidity of $80.6 million. Our capital expenditures for Q2 net of proceeds on disposal, excluding expenditures related to Taylor Terminal, were $7.6 million, an increase of $2 million compared to the second quarter of last year. Growth capital expenditures, excluding the construction of Taylor Terminal, were $1 million higher than last year due to expenditures on the Peace River expansion. Maintenance capital expenditures increased for the quarter, largely due to improvements on the Sahara fleet, mine development activities in Wisconsin, and higher expenditures on overburden removal driven by increased sales volumes, as well as expenditures related to Source's trucking operations. Lease obligations increased from the prior year quarter, largely due to the timing on the heavy equipment for Peace River done in the latter half of 2024, and yellow iron leases for the Wisconsin mining operations, which were replaced in later 2024. Lease payments for railcars and yellow iron used in Wisconsin have also been impacted by the weakening of the Canadian dollar compared to the first quarter of 2024. Source is now cash taxable in the U.S. and expects to be cash taxable in Canada next year. I'll turn it back to you, Scott. Thanks, Darren. As we look forward to the second half of the year, we expect completion activity in the Western Canadian Sedimentary Basin to slow slightly. We're forecasting sales volumes in Q3 to moderately decrease from levels that we saw in the first half of the year. As we experience in most years, we expect the fourth quarter to be impacted by budget exhaustion. Looking beyond the second half of this year, we expect 2026 to be a strong year for WCSB completion activity, driven by additional export capability via LNG Canada as it ramps up its production. Over the long term, we continue to believe the increased demand for natural gas driven by LNG exports, increased natural gas pipeline export capabilities, and power generation will drive incremental demand for Source's services. We are pleased to note positive developments on all West Coast proposed LNG projects during the quarter, which, when completed, will have a material impact on the frac sand consumed in the basin. Source continues to focus on enhancing our industry-leading frac sand logistics chain. We have and will continue to execute on a number of opportunities to grow the company and further our competitive advantage. In addition to growth in our core markets, we continue to explore opportunities to diversify and expand our service offerings and to further utilize our existing Western Canadian terminal network. Thank you for your time this morning. That concludes our formal portion of the call. We'll now ask the operator to open the lines for questions. Thank you. We will now begin the question- and- answer session. To join the question queue, you may press star then one on your telephone keypad. You will hear a tone acknowledging your request. If you are using a speakerphone, please pick up your handset before pressing any keys. To withdraw your question, please press star then two. The first question comes from Nick Corcoran from Acumen Capital Partners. Please go ahead. Good morning, guys. Congrats on the record quarter. Morning, Nick. Just my first question on sand volumes, the record volumes in the quarter. Have you seen a change in seasonality in the business where completion activity in Q2 isn't impacted by a spring breakup? Yeah, really good question. We have, over the last few years, seen a move in our seasonality in the business away from a slowdown in Q2 to more of a slowdown in Q4. I think the E&P companies have done a better job about planning their work around spring breakup and tough roads. I also do believe that the movement to much larger pads just allows for more work during Q2. We definitely have seen our seasonality move out of Q2 and more into a seasonal slowdown in Q4. That's a good call out. Maybe just a question on the outlook. I'm looking at Source Energy Services did about 1.7 million metric tons in the back half of 2024. I realize it's early days, but based on what you're seeing now, what do you expect for volumes in the back half of 2025? I'm just wondering if you're expecting in line or potentially down. Yeah, no, I suspect that, you know, it's very early days right now. I think the wild card, as it has been in the last few years, and as I mentioned on the seasonality, is Q4. On the upside, if we see some movement in commodity prices, driven by LNG Canada ramping up, then we will see more activity in Q4, and we probably would have some upside on the number that we posted last year. With that said, if we don't see commodity price movement and we're running into more companies with budget exhaustion, then we are potentially flat to that number. I think all in all, we should be fairly consistent year over year with some potential upside to that number, depending on the commodity price outlook for the year. That's helpful. Maybe looking to 2026, is your outlook for percentage volume growth year over year changed at all? I think in the past, you've said 5%- 10%. No, you know, we won't have changed our outlook on 2026. As we view it, sitting here today, we view 2026 as an incredibly strong year and a year that we'll continue to see growth in the market. I personally view 2026 as LNG Canada has ramped up to its full production and we'll see a movement in commodity price. We'll see a very strong year for completion activity in the Western Canadian Sedimentary Basin. Maybe one last question from me. I think you might have alluded to this, but FID for Phase 2 of LNG Canada or any other LNG projects, how should we think about that in terms of overall demand for frac sand in Western Canada? I think any export capability obviously is very positive for frac sand consumption in the basin. LNG Canada, a twinning of the facility obviously would move the needle quite a bit in terms of overall sand demand in the basin. The other projects, which are of varying size, also move the needle, but maybe a little less than a potential LNG Canada twinning. They're all very positive. They all have a little bit of a different impact on the overall consumption of frac sand. We just view the outlook and the work that the LNG projects have progressed so far as incredibly positive for our business, incredibly positive for the oilfield services market. I just think that we have a bright future ahead of us if we can get some of those projects online and consuming some gas. That's a great call out. Thanks. I'll pass the line. Thanks, Nick. Once again, if you have a question, please press star one. This concludes our question- and- answer session. I would like to turn the conference back over to Scott Melbourn for closing remarks. Thank you, everyone, for your time today, and thank you for your interest in Source. If you have any follow-on questions, myself or Darren are available. Thanks and have a great day. This concludes today's conference call. You may disconnect your lines. Thank you for participating and have a pleasant day.