Alrighty, thank you everybody for attending. Up next, we have ProPetro Holding Corp., traded on the NYSE under symbol PUMP. On behalf of the company, we have Matt Augustine, Vice President, Finance and Investor Relations, and Shelby Fietz, COO. Morning! I don't know if we necessarily need this microphone. It's just a few, but we'll stand here anyways. Like I said, we're ProPetro Services out of Midland, Texas, New York Stock Exchange, PUMP. Morning! ProPetro, one of the things that we've been working on the last few years is we've reinvested over $1 billion into our company and into our equipment. These investments that we've made over the last five years are more capital-light equipment that's a lot more efficient on location, not only for us, but for our customers as well. ProPetro, second quarter revenue of $326 million. This trend of our revenue and EBITDA has gone down from Q1 to Q2. It's no secret the industry is down. One of the things we want to highlight on this page is our free cash flow of $26 million. What we've done with our reinvestment of our equipment the last three to four years is, once again, capital-light equipment that has provided a larger return for our customers and for ourselves as well. The equipment is more industrialized, less people on location, less service, less maintenance cycle, longer lifespan. Right now, ProPetro has three service lines. We'll be four in the next few months. We started a new segment, ProPWR, that's going to be part of our service line. As you can see, hydraulic fracturing makes up 75% of our revenue as of today. You'll see quickly when we start rolling ProPWR on location and generating revenue that ProPWR will surpass wireline and cementing fairly quickly. We believe in the next year or so that it will be competing with hydraulic fracturing as one of our top service lines in the industry. Our strategy at ProPetro has been a fleet transition. Like I reminded you that we had over $1 billion in the last three or four years reinvested in our equipment. Transitioning our equipment to capital-light, more efficient, electric, moving away from just from the diesel-burning equipment on location. This equipment is a lot more durable. It's longer lasting, more industrialized. Capital-light gives us a strong foundation moving forward to continue to generate free cash flow through the cyclical business that we have that we're in in oil and gas. Right now, ProPetro is 100% located in the Permian Basin and operating in the Permian Basin. We had smaller segments in Vernal, Utah, Elk City, Oklahoma. Quickly found out that the Permian Basin is where everybody wants to be. That is where all services are currently located for us. We believe that ProPWR will begin 100% in the Permian Basin. As we continue to grow that company, we believe that we could venture outside of the Permian Basin more into the large power source of data centers, AI, etc. that will be outside the Permian Basin. Our oil and gas business, service business, is all in the Permian Basin as of today. I'll take over here on this slide. I think you, at first glance on this page, you see numbers that are declining from first quarter to second quarter, and that's true. The column we like to speak to is where you see free cash flow from the completions business. We've seen rig counts drop pretty severely through the year, especially in the Permian Basin. If you look back past 18 months or so, seeing almost 100 rigs come out of the system there. In the meanwhile, we've built the business based on the investments Shelby was talking about that have been able to generate durable free cash flow in our completions business. What we're using with this cash is to go fund our new venture in ProPWR, our organic power subsidiary that we're starting up and building. I think that's something we really want to point to. We've had a lot of positive feedback from investors on that. In cycles past, you see that free cash flow number flip pretty hard to the negative. The reason we've got this business now where it's able to generate free cash flow through cycles is because of the capital-light nature of the assets that we've invested in, namely our FORCE electric equipment, which lasts 10 years compared to conventional equipment, maybe half of that. You don't have that constant reinvestment cycle. ProPWR, those are 20-year assets that's going to just add to the free cash flow nature of our business, but also through some of the M&A we've done through our Silvert ip wireline business and some of our cementing acquisition as well. Those are very high free cash flowing businesses and generate durable returns. Speaking of M&A, here's some of the recent M&A opportunities that we've completed. Over the last three years, we've been able to add Silver tip, our wireline company. We've bolstered our cementing operation in Par Five, and we also added a sand logistics company in Aqua Prop. All this has done has allowed Shelby and his commercial efforts to go better, build a moat around our completions business, right? He's able to package these services together, which is true commercial leverage and operating leverage as well out in the field. Our fleets run much more efficiently when you've got a Silver tip wireline truck out on location and Aqua Prop wet sand solution as well. We like to show this slide. You know, we do have an active share repurchase program. We have not bought back shares this year, and due to our capital allocation priority shifting from our share repurchases to fueling our ProPWR business because we truly believe in the long-term nature of that business. We have taken the free cash flow we've generated in our completions business and put it into ProPWR. That said, we're still convicted in the valuation discrepancies present in our stock today, and we will remain opportunistic through this program. This slide we like to screen just to show where we stand in the oilfield services paradigm. These are some of our selected peers, and ProPetro continues to be valued at a discount, certainly relative to other energy service companies. We think it's a great opportunity. There are reasons that we've talked about in the past of why oilfield services and specifically completions-oriented services have been discounted. We think we've done a lot of work over the last several years to buck that trend and to build a business that is truly resilient and can withstand market cycles. We think, again, ProPWR is going to continue to fuel that. We think this is a great opportunity, especially given where we trade today. Talking about industrialized model, that's one of the key investment theses of ProPetro and the broader energy service space, specifically the completion space. It's gotten a lot more consolidated than it was 10, 15 years ago. You can see here what we're doing is just trying to show the shift in the dislocation that's happened between the oilfield service index and the industrial sector index. They used to trade very closely, and then for reasons I think many of us are familiar with, the undisciplined nature of the industry, the overbuild of equipment. It was not capital efficient. We saw some dislocation there. We believe we've done a lot of things that have right-sized the industry and built a completion space now that deserves a valuation re-rate. It's for all the reasons we've listed there on the right: improved capital discipline, industry consolidation we've talked about, deployment of the industrial technologies such as our electric fleets and our ProPWR equipment, as well as Silver Tip wireline and our cementing as well. The power generation demand, you know, that is a growth vehicle in which we've not been a part of in the last 10 years. The demand is super, super high. Shelby will talk more about that in the coming slides. We are very convicted in that space, and we think we have a really good avenue to grow that. Look, we are focused on cash flow generation. We've got a business now where our CapEx cycle is kind of in maintenance mode in our completions business. We are able to scale our CapEx with activity more so now than ever before. That's allowing us to keep free cash flow intact, as we've demonstrated the last two quarters. I say last two quarters, but it's really been the last couple of years. This is, again, an industrialized completions business. Here you see the Permian rig count, you know, coming down and declining over the last three years while our free cash flow has been ramping. We did $100 million of free cash flow in 2024, and that was in a down market as well. In 2025, we've seen rigs come off further. Year to date, through the second quarter, we've generated $67 million of free cash flow in our completions business. That's allowed us, again, to use that capital to support our other capital allocation priorities such as ProPWR. You want to take this slide? We've spoken several times about our next-gen equipment that we've reinvested into the company over the last three to four years. This has kind of been a scheduled trend of what we've done with this equipment. The black bar is our T ier II, just diesel-burning equipment. As we've been phasing out that equipment that is capital heavy, what we've been, you know, the market has shown that it's not good for investors and companies to continue to reinvest, oversaturate the market. We moved into more gas-burning equipment in 2021 with Tier IV DGB equipment. Those are dual-fuel pumps that we can burn gas from the operator on location and diesel. In 2023, we started moving into our electric equipment to FORCE electric fleet on location. As you can see, the last few years we've continued to grow that application and going to continue to trend the Tier II out and move into the more gas-burning equipment that we've stated several times that is longer lasting, more efficient, less capital intensive, more industrialized on location. Yeah, I would just add on, you know, we said on our last earnings report that we've been thinking about potentially accelerating our transition into electric, especially through the current cycle we're in. We think there's a premium on that equipment. The cost efficiencies that we see, also our customers see, you know, it's truly a win-win. We also can scale this electric business in a very capital-efficient manner. We're currently doing that through a lease program that allows us to basically pay for this equipment as we go. You don't see this massive growth CapEx cycle coming for our frac business. We've got this lease program in place where we can transition our fleet to electric, but also continue to generate free cash flow. Just one of the examples of our Tier IV DGB equipment that we started purchasing in 2021. On location, as we've grown that application, we've gotten better at the operation as well. We're averaging around 70% displacement through the seven fleets that we have located with our customers today. I would say also that we are the only ones in the Permian Basin that have these fleets under contract as well from performance and cost savings, not only for us, but our customers as well. When we say contract, we mean true take-or-pay type contracts, and Shelby is going to talk more about this with the electric. Yeah, this FORCE is our electric e-fleet fracturing equipment. We've had our first fleet on location for slightly over two years now. When we stepped in that operation, we thought that it was going to be something that we wanted to continue to grow at the company. We knew that it was longer lasting, less capital intensive, and the efficiencies there. We were pleasantly surprised that it was better than what we thought. That's why we continue to say that it's something that we're going to transition to and away from gas or diesel-burning equipment. Today, we have four fleets that are operating under true contract, take-or-pay contracts. We have equipment for five fleets that we've purchased and built, but it operates only four because one of them is a super-sized fleet that's on location. You basically have one fleet that's the size of two, and the others are your standard sized fleets. All of these are under long-term take-or-pay contracts. Sure. Yeah, I mean, I think we've talked about why we're so excited about ProPWR. The demand is very, very high for energy in the Permian. We have focused, at least initially, on oilfield applications and supporting infield power for our customers, meaning kind of think production, midstream, compression type needs. As more industrial projects, data center-like type projects migrate to the Permian because of the abundant space and the abundant natural gas, we think those opportunities will come to us as well. Right now, we think there's a really cool opportunity to continue to attack the power needs for oil and gas customers that we're already doing with our frac equipment through electric, our FORCE electric fleet. That said, the production needs, which are a little bit more resilient during the cyclical environment that we're in, provide a good moat. We saw this as a great opportunity to partner further with our current customer base for something that they've been expressing to me for years, their needs. It also felt like kind of a low-hanging fruit to start a business where people were really distracted talking about AI data centers, that anybody that had power generation. We've seen that as they're focused on that, chasing those large operations, we've been the only ones in the Permian Basin helping our current customer base take care of their needs, like Matt said, ongoing production needs for them today and to grow into larger operations for them going forward. Yeah, I think on this page, kind of the state of the union here is the bullets there on the left. We've currently ordered 220 MW of equipment, which is split evenly today between turbines and natural gas reciprocating generators. We anticipate all 220 MW being delivered by the middle of next year. We did announce our inaugural contract, which was a 10-year midstream-like contract in the second quarter. It commits 80 MW of power generation capacity to that customer. We've also talked about publicly that we expect to have all 220 MW under contract by the end of this year, ahead of deliveries. The contract nature will look similar to what we've already announced. We're engaging, we talked about this on our last earnings call, we're actively engaging our supply chain partners about our next order. We're really excited about the growth here. We're expecting to generate revenue here in the coming weeks. I think it's going to be a new strategy and new investment thesis for ProPetro. It's definitely no surprise, no secret how much power is needed in our world as we continue to grow. In the Permian Basin, if anybody's been out there, especially if you go out further west, there's nothing there. As of today, the market and industry analysts are projecting by 2038 that over 26 [MW] total will be addressable in the market. We've only ordered as of today 220 MW. Within the first few months of starting this business, we landed a 10-year contract for the 80 MW. Like Matt said, we've said publicly through our calls that we believe we will have all 220 MW contracted, long-term contract, take-or-pay contracts by the end of this year. We stand by that because all of those available megawatts that we've purchased so far today are in the works of getting completely contracted within the next few months. Very exciting times for this business line, this sector that we've started for ProPetro that's only going to continue to expand with separating itself from, like Matt said, the cyclical business of oil and gas, of drilling and completions. Yeah, we want to migrate away from the drill bit. We think this is an area in which we can do that, especially as we're focusing on infield power. You know, will we power some of our frac fleets in the future? Potentially. That'll just be complimentary and could be even complimentary to a microgrid that we build out for a customer of ours. We like to show this slide and visualize it as basically ProPWR's kind of just a drop in the bucket of the demand that's out there. There's a lot of fear in the space about overbuilding. We've certainly seen that in the frac space as well, and that has occurred. Given where the demand is and how much it's outstripping the current supply chains and the OEM manufacturing capabilities, we are a long ways off from being able to be even close to overbuilding. You want to talk about the commercial? Yeah, we've discussed some of this already, how ProPetro and ProPWR pair really well to each other. Once again, the majority of our starting contracts that we're working with is our current customer base. We knew what their needs were. We knew what we could start to help them immediately, and it would be a business line for us that would remove ourselves from the drill bit and from the frac business as well. Like Matt said, what we do starting out, we will be, you know, infield power production, but that could transition into supporting our frac fleets going forward. As of today, right now, our main focus is getting these power solutions on location for easy, low-hanging fruit for long-term contracts for the near future. Yeah, I think we've talked about all of this. We're really excited about the future of our company. We've built a resilient business, and we're viewed at least in the Permian Basin as a premier service company, especially the most efficient operator. We're really excited about adding to that with ProPWR. This is just a snapshot of who our management team is and also our Board of Directors. We've got a great team, a hungry team that's ready to continue to grow this, and we've got a Board of Directors that's very supportive of the strategy. With that, that's kind of the end of the presentation. We'll open it up to questions. What do you go to some of those power generation needs? What resource do you create first? Some counties could be very much on hydrogen power? Yeah, I'll start. I'll take a stab at that first. One thing that we are taking a little bit different approach is a more modular setup on location. We've seen some of our competitors in the power space go all in on one application or the other, or size as well. Like Matt said, we've gone about half, 50/50 split between 6.5 MW turbines and 2.5 MW gas reciprocating engines. When we go onto our location, we work with our customers. We're going to be able to supply a lot of redundancy on location, but also not oversupply where we're hamstringing ourselves, where we can't go chase other opportunities with us as well. It's going to be a modular approach on location for one. The leadership that we got to start this company is several years of experience, 15 years of experience in power, not only on the turbine side, but on the gas reciprocating side as well. They've started power businesses before and grown those businesses to very large where those companies are chasing what we're talking about, the data centers, the AIs, and stepped away from what we're looking at right now, which is taking care of easy wins for the company to go on location with our current customer base to be able to supply their needs. I would just also say, again, leveraging the team at ProPetro, right, and the support infrastructure that ProPetro has in place, that's not easy to replicate. Especially, you know, you come out and look at our facilities in the Permian Basin, they're best in class. We've got a test stand for our power equipment that is putting this equipment through the ringer before it ever goes out onto location. The reliability is there. This may sound cliché, but we've been able to establish, you know, operational excellency in everything we do, especially on the completion side. Through the relationships that Shelby has with customers, they'll also be our customers on the power side. It's a really good symbiotic relationship for us to leverage the commercial and operational success that we've had at ProPetro. Also, on the supply chain, you talked about the OEMs, the people we've partnered up with to support us on the power side, the people we've been working with for 15 years at ProPetro. The relationship was there between the two companies to begin with before we even started PWR. That has held true. We have a really good, long-term stance and also a vision into their supply chain of the build-out phase for them and know where we fall in line. We took the entire year supply chain for them from them so nobody else can go in and buy any more power and continue to be on the back end of that to expand it even further. That doesn't let any of our competitors into the market. Any others? Sorry, I'm thinking you've got an endless energy solutions, which you're giving everybody luxury. Thanks, I'd like to complain a bit about what you're doing. Is that right? I stand up to it? Sure, yeah. I mean, I think we, you know, they today are supporting some of the production oilfield power. I think there's going to be a need for all megawatts. I think what we've got in our solution is maybe a little bit more energy-dense and works better, we think, in the Permian Basin because we can go put out our megawatts and our turbines and our resets, depending on the setup they need, into a location and power many different sites all at once and build out a microgrid. That's what we've done for the first contract we announced, and we hope to continue to replicate that, and we know we will. I think the Atlas Solution through their acquisition with Moser is more of a modular or well by well, pad by pad, whereas we want to build out an entire microgrid. We think there's efficiencies and cost savings that come with that, number one for us, but also for our customers as well. We think, again, we think everyone in the power space is going to be winners. There's a need for all, but we believe that what we've seen in the past and some of our other competitors may have 20 of their assets spread out through an operator's locations, where we'll be able to build a centralized hub with maybe just two of our applications. We're going to be able to do more with less, save them cost, and it's going to be a lot more efficient by displacing all the extra equipment that's scattered throughout their acreage. To make this microgrid that they use, I don't know what the technical term is, but string cable from one location to another location? Yes, sir. Yes, sir. Yeah, transmission lines. That's right. Okay, anything else? Again, appreciate it. Thank you very much.