U.S. Well Services, Inc. (USWS) Q1 2022 Earnings Conference Call May 16, 2022 11:00 AM ET

Company Participants

Kyle O’Neill – President & Chief Executive Officer

Josh Shapiro – Chief Financial Officer

Erin C Simonson – Secretary & Vice President

Conference Call Participants

John Daniel – Daniel Energy Partners

Operator

Greetings, and welcome to the U.S. Well Services First Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. Question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Erin C. Simonson, Vice President, and Corporate Secretary. Thank you Erin, you may begin.

Erin C Simonson

Thank you, Operator and good morning, everyone. We appreciate you joining us for the U.S. Well Services conference call and webcast, to review the first quarter 2022 result. Joining us this morning on the call, our Chief Executive Officer, Kyle O'Neill and Chief Financial Officer, Josh Shapiro. Following their prepared remarks, the call will be open for Q&A. Earlier this morning, U.S. Well Services released its first quarter 2022 earnings. The earnings release can be found on the company's website at www. uswellservices.com. U.S. Well Services also intends to file its quarterly report on Form 10-Q with the SEC this morning.

Please note, that the information reported on this call speaks only as of today. And therefore, time-sensitive information may no longer be accurate, as of the time of any replay or transcript reading. In addition, the comments made by management during this conference call may contain forward-looking statements within the meaning of the United States Federal Securities Laws. These forward-looking statements reflect the current views of U.S. Well Services management. However, various risks, uncertainties, and contingencies could cause our actual results, performance, or achievements to differ materially from those expressed in the statements made by management. The listener is encouraged to review today's earnings release and U.S. Well Services filings with the SEC to understand those risks, uncertainties, and contingencies.

Also, during today's call and webcast we will reference certain non-GAAP financial measures, reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in our earnings release. And now I would like to turn the call over to U.S. Well Services CEO, Mr. Kyle O'Neill.

Kyle O’Neill

Thanks, Erin and good morning everyone. Two years ago, this time, the outlook for the pressure pumping industry in the traditional energy industry more broadly, was bleak. The onset of COVID-19 pandemic destroyed demand for crude oil and refined products. In many questions, whether the world's demand for oil had peaked and if the industry was viable. What a difference 24 months can make. The price of crude oil and natural gas globally, is sending a clear signal to the market, for the world needs more of what our customers produce.