Diamondback Energy, Inc.

Good day, and thank you for standing by. Welcome to the Diamondback Energy Fourth Quarter 2023 EARNX Conference Call. At this time, all participants are in a 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 11 again. In the interest of time, we ask that you please lend yourself to one question and one follow-up. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Adam Lawless, VP, Investor Relations. Please go ahead.

Thank you, Daniel. Good morning, and welcome to Diamondback Energy's fourth 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 Stice, Chairman and CEO, Kate Fantoff, 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 reference to certain non-GAAP measures. The reconciliations with the appropriate GAAP measures can be found in our earnings release issued yesterday afternoon.

Now I'll turn the call over to Travis Stice. Thank you, Adam, and I appreciate everyone joining this morning. I hope you continue to find the stockholders' letter that we issued last night, an efficient way to communicate. So obviously a lot of the material is in that stockholder's letter. So with that, operator, would you please open the line for questions?