Welcome to the Battalion Oil Second Quarter 2020 Earnings Call. As a reminder, today's conference is being recorded. This conference call contains forward-looking statements. For a detailed description, see Battalion's earnings announcement released yesterday and posted to its website. This conference call also includes references to certain non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most directly comparable measure under GAAP are also contained in the earnings release. Now I'll turn it over to Battalion's Chief Executive Officer, Richard Little. Mr. Little, you may begin.

Thank you. I'd also like to thank listeners for joining Battalion's Second Quarter 2020 Earnings Call. The second quarter was particularly difficult because it forced us to put a hold on our plans for growth in 2020, which we have been making tremendous progress on up to that point. However, I am proud of our team's ability to work remotely and still keep our business on track to a brighter future. During the second quarter, our entire Houston corporate office conducted operations from home, and we continue to implement protocols out in the field to ensure the health and safety of our workforce every day. We also recognize the impact that COVID-19 has had in our community, so we rallied the battalion and held a food drive in Houston as well as donated hand sanitizer to first responders in our field operating areas. During our last call in May, Battalion had already made the decision to shut in over 50% of our field to preserve production in the face of a dramatic drop in our realized oil price. As a result, average daily net production for the quarter was 14,264 BOE per day, which represents 25% less production than the first quarter. Oil production for the quarter was 8,516 barrels per day. Due to the team's ability to react quickly to market conditions, we were able to reduce our capital spend quarter-over-quarter by 85%. We continue to react quickly to market conditions with agility by returning wells to production just as soon as it became economic to do so. We're currently back to around 11,000 barrels of net oil production per day, which is right around where we were just before we started to curtail production back in April. Even though we hit the pause button on our drilling and…

All right. And ladies and gentlemen, that does conclude today's call. We do thank you for your participation, and you may now disconnect.