Riley Exploration Permian, Inc.

Good morning. My name is John, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the Riley Exploration Permian Inc.' 's third quarter 2024 earnings conference call. All lines have been placed in mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. Thank you. I would now like to turn the call over to Philip Riley, Chief Financial Officer.

you may begin your conference. Good morning. Welcome to our conference call covering the third quarter 2024 results. I'm Philip Riley, CFO. Joining me today are Bobby Riley, Chairman and CEO, and John Suter, COO. Yesterday, we published a variety of materials which can be found on our website under the Investors section. These materials in today's conference call contain certain projections and other forward-looking statements within the meaning of the federal securities laws. These statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in these statements. We'll also reference certain non-GAAP measures. The reconciliations to the appropriate GAAP measures can be found in our supplemental disclosure on our website. I'll now turn the call over to Bobby.

Thank you, Philip. Good morning. and welcome to our Q3 2024 earnings call. Today we highlight several updates for Riley since Q2, including that our team met or exceeded key metrics on our plan guidance, resulting in significant free cash flow. This has allowed us to continue paying down debt and distributing dividends back to our shareholders. Today, we're paying our 15th consecutive dividend as a public company with a recent increase to 38 cents per share, up 6% from previous quarter. Since 2021, we've returned $98 million to public shareholders, achieving an annual dividend growth rate of 11%. Additionally, we paid down $35 million in debt this quarter, underscoring our commitment to delivering consistent and growing shareholder returns while maintaining prudent financial management. I'm happy to report that our 2024 drilling and completion campaign is delivering excellent results. We are successfully driving down costs while generally seeing production outperform relative to forecast and prior year results in both West Texas and New Mexico. This reinforces the effectiveness of our operational strategies and strengthens our ability to generate value. This success also underscores the quality of our acquisitions and highlights new opportunities to invest in infrastructure that will support future growth. Just as we did early on in our Texas, our champions asset, We plan to take advantage of these opportunities beginning in Q4 and the future to build out infrastructure that will enhance transportation and processing, providing reliable, continuous takeaway, ensuring we are well positioned to maximize efficiency and long-term value in both regions. We believe Riley's oil-focused assets to be among the most productive and capital efficient in North America, as we demonstrate in new slides in our investor presentation. Using data and analysis from Inveris, a top data provider for our industry, one can see how our assets compare favorably to core Midland Basin and Delaware Basin wells, outperforming both on longer-term cumulative production per lateral foot metrics, and forecasted breakeven prices. Since the fall of 2022, we've been operating a CO2 pilot in a small footprint area that consisted of six vertical wells and three horizontal wells. The data gathered from this pilot showed that we were successful in mobilizing hydrocarbons, both oil and NGLs, with CO2. This provides valuable insights for potential EOR applications, which we believe will be best suited for post-primary production later in the reservoir's life. We will continue to evaluate anthropogenic CO2 sources that will be crucial in the economic outcome. We made significant progress with our power joint venture, RPC Power, across both projects. In Yoakum County, we completed the final installation of power units supporting our operations and are actively transferring load to these units. For our larger merchant project, we advanced with siting, permitting, and equipment orders, positioning us well for continued development. Now I will turn the call over to John Suter, our COO, to discuss operational results for the quarter, followed by Phillip Riley, our CFO, who will discuss financial results and guidance.