Diamondback Energy, Inc.

Good day, and thank you for standing by. Welcome to the Diamondback Energy second quarter 2023 earnings conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to the VP of Investor Relations, Adam Lomas. Please go ahead.

Thank you, Jules. Good morning, and welcome to Diamondback Energy's second quarter 2023 conference call. During our call today, we will reference an updated investor presentation and letter to stockholders, which can be found on Diamondback's website. Representing Diamondback today are Travis Seitz, Chairman and CEO, Kate Spanthoff, President and CFO, and Danny Wesson, COO. During this conference call, the participants may make certain forward-looking statements relating to the company's financial condition, results of operations, plans, objectives, future performance, and businesses. We caution you that actual results could differ materially from those that are indicated in these forward-looking statements due to a variety of factors. Information concerning these factors can be found in the company's filings with SEC. In addition, we will make a reference to certain non-GAAP measures. The reconciliations with the appropriate GAAP measures can be found in our earnings release issued yesterday afternoon. I'll now turn the call over to Travis Suss.

Good morning, and thank you, Adam. As Adam mentioned, last night we released a shareholder letter in conjunction with our press release, and this is our second quarter in a row we've tried this. I hope you find it useful. We believe that it not only increases the transparency directly to our shareholders, but also improves efficiency and Those of you who have followed our story for a long time know how important improving efficiency is to us. So with that, operator, let's move right into questions, if you'll open the line.