Evolution Petroleum Corporation, Inc.

good morning everyone and welcome to the evolution petroleum fiscal second quarter 2025 earnings conference call all participants are in a listen-only mode please also note today's event is being recorded at this time i'd like to turn the call over to brandi hudson the company's investor relations manager ma'am please go ahead thank you welcome to evolution petroleum's fiscal second quarter 2025 earnings call i'm joined today by kelly lloyd president and chief executive officer

Mark Bunch, Chief Operating Officer, and Ryan Stash, Senior Vice President, Chief Financial Officer and Treasurer. We released our fiscal second quarter 2025 financial results after the market closed yesterday. Please refer to our earnings press release for additional information containing these results. You can access our earnings release in the Investors section of our website. Please note that any statements and information provided in today's call speak only as of today's date, February 12, 2025, and any time-sensitive information may not be accurate at a later date. Our discussion today will contain forward-looking statements of management's beliefs and assumptions based on currently available information. These forward-looking statements are subject to the risks, assumptions, and uncertainties as described in our SEC filings. Actual results may differ materially from those expected. We undertake no obligation to update any forward-looking statements. During today's call, we may discuss certain non-GAAP financial measures, including adjusted EBITDA. Reconciliations of these measures to the closest comparable gap measures can be found in our earnings release. Kelly will begin today's call with opening comments. Mark will provide an update on our properties and plans as they relate to our ongoing strategy of maximizing shareholder returns. And Ryan will provide a brief overview of our fiscal second quarter highlights. After our prepared remarks, the management team will be available to answer any questions. As a reminder, this conference call is being recorded. If you wish to listen to a webcast replay of today's call, It will be available on the investor section of our website. With that, I will turn the call over to Kelly.

Thank you, Brandi, and good morning, everyone. Our team continues to execute a disciplined strategy that balances organic growth with high-quality acquisitions, all while maintaining a strong financial foundation. Our ability to adapt to market conditions, capitalize on strategic opportunities, and drive consistent returns has been central to our long-term success. As we sit here today, I would describe the outlook for M&A as highly encouraging. We're currently evaluating multiple acquisition opportunities, all of which have the potential to enhance our long-term growth strategy and further improve our cash flow generation right from the get-go. We're seeing opportunities for negotiated transactions across several fronts, all at highly compelling valuations that, if we are able to close, will be materially accretive. In the last five years, we have invested over $118 million in shareholder capital to grow production by 200% and expand our portfolio with hundreds of high-quality, undrilled locations, all secured at exceptional value. We take great pride in our track record of acquiring assets at attractive valuations that deliver meaningful cash flow and long-term shareholder returns. And thus, we are confident in our ability to deliver on these initiatives and drive cash flow towards our dividend program for years to come. The energy market remains dynamic, presenting both challenges and opportunities. While the first half of fiscal year 25 has been marked by significantly lower realized commodity prices versus the same period in fiscal year 24, particularly for natural gas, we're excited about the expectations for the rest of the year. Natural gas prices throughout the futures curve look much more favorable and look to have staying power as the outlook for increased demand only gets stronger with expected easing of LNG export restrictions and increased commercial and residential demand for natural gas-fired electricity. The front month pricing of crude oil has tended to roll month over month towards spot pricing, bucking the obvious backwardation in the WTI futures curves. With supply and demand remaining fairly tight and threats of increased sanctions, and other potential disruptions remaining ever-present, we see this trend as likely to continue. All of this makes for a very promising setup for the second half of our fiscal year 25. Despite this volatility, our diversified portfolio continues to demonstrate resilience, allowing us to sustain strong production growth and effectively manage market fluctuations. Our ability to navigate these market conditions through a combination of strategic investments and disciplined capital management remains a key differentiator for evolution. Our total production grew 10% year over year to 6,935 BOE per day, reflecting strong contributions from our geographically and commodity-type diversified portfolio of long-life, low-decline producing assets and our organic growth components. This double-digit production growth was in spite of temporary downtime in Williston and Chavarru that resulted in approximately 90 BOE per day of deferred production for the quarter. The downtime issues have since been resolved with rates fully restored by January. In the SCOOP stack, which we acquired based on accretive metrics to the then-existing production exclusive of any future new drills, has and continues to impress with results from new wells that have been drilled and or completed since the acquisition. Our partnership at Shavaroo Field with its measured pace is progressing nicely as planned. With overall well results coming in at or better than expectations and an estimated 300-plus additional gross locations between ScoopStack and Shavaroo, These properties represent the most exciting current components of our organic growth portfolio, which is a crucial component to our more stable, approved, developed production base in driving future cash flows and feeding the company's dividend machine for many years to come. We're pleased to announce that this quarter marks our 46th consecutive dividend payment, maintaining our quarterly payout at 12 cents per share for the past 11 quarters. This consistency underscores the strength of our asset base, our ability to generate reliable cash flow, and our commitment to returning value to shareholders through all market cycles. To date, Evolution has returned approximately $126.6 million, or $3.81 per share, back to shareholders in common stock dividends. In fiscal Q2, we returned $4.1 million to shareholders through dividends. Looking ahead, we remain focused on driving long-term shareholder value through disciplined asset acquisitions, strategic drilling expansion, and return of capital. Our focus on high-quality, low-decline assets ensures sustainable growth, supports our dividend program, and positions us to thrive amid commodity price volatility. With a strong portfolio, a history of disciplined capital allocation, and a commitment to shareholder value, We are well positioned to continue executing on our strategy for years to come. With that, I'll turn the call over to our COO, Mark Bunch, to review our operations in more detail.