Mike Kruchten - SVP, Capital Markets and Corporate Planning

Imad Mohsen - President and CEO

Eric Furlan - COO

Cam Grainger - CFO

Thank you for standing by. My name is Karen, and I will be the conference operator today. At this time, I would like to welcome everyone to the Parex Resources 2024 Year-End Results. [Operator Instructions].

I will now turn the call over to Mike Kruchten. Please go ahead.

Mike Kruchten

Good morning, and welcome to Parex Resources fourth quarter 2024 conference call and webcast. My name is Mike Kruchten, Senior Vice President of Capital Markets and Corporate Planning. And on the call with me today are our President and Chief Executive Officer, Imad Mohsen; our Chief Financial Officer, Cam Grainger; and our Chief Operating Officer, Eric Furlan. [Operator Instructions].

As a reminder, this conference call includes forward-looking statements as well as non-GAAP and other financial measures with the associated risks outlined in our news release and MD&A, which can be found on our website or at sedarplus.ca. Note that all amounts discussed today are in U.S. dollars, unless otherwise stated.

I will now turn the call over to Imad. Please go ahead.

Imad Mohsen

Thank you, Mike and good morning, everyone. In 2024, we achieved strong financial results from our underlying asset base, despite headwinds we faced during the year.

By maintaining capital discipline and optimizing our conventional assets, we generated $275 million in free funds flow, making the third highest result in Parex's history. Alongside our strong financial performance, we made significant progress on several strategic fronts. As our reserves report stated, our core assets Llanos 34 and Cabrestero are performing at or above our expectations.