Operator

Good day, and welcome to the California Resources Corporation First Quarter 2026 Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Daniel Juck, Vice President of Investor Relations. Please go ahead.

Daniel Juck

Good morning, and welcome to CRC's First Quarter 2026 Conference Call. Following prepared comments, members of our leadership team will be available to take your questions. I hope you have had a chance to review our earnings release and supplemental slides. We have also provided information reconciling non-GAAP financial measures to comparable GAAP measures on our website in our earnings release.

Today we'll be making forward-looking statements based on current expectations. Actual results may differ due to factors described in our earnings release and SEC filings.

[Operator Instructions]

I will now turn the call over to Francisco.

Francisco Leon
CEO, President & Director

Thanks, Dani. Good morning, everyone. We're off to a solid start in 2026 with unprecedented energy market volatility creating meaningful tailwinds and opportunities for our business. Before getting into the quarter, let me share a few thoughts on the macro environment and why CRC's business is well positioned to create value through the cycle.

Events across the Middle East have reminded the world of the importance of oil and energy security. Global