This is a complex example with lots of various panels added. You can get as minimal or complex as you want using the page builder available for each individual post and page (or globally set in the theme options)
This is a widget panel. To remove this text, login to your WordPress admin panel and go to Appearance >> Widgets, and drag & drop a widget into this widget panel. If you want to leave this area blank, simply put a blank Text widget into this widget panel which will overwrite this text.