Diamondback Energy, Inc.

Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Adam Lawless, VP of Investor Relations. Please go ahead.

Thank you, Brianna. Good morning and welcome to Diamondback Energy's second quarter 2025 conference call. During our call today, we will reference an updated investor presentation letter to stockholders, which can be found on our website. Representing Diamondback today are Case Van Tolf's CEO, Danny Wesson, COO, and Jerry Thompson, CFO. 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 on-gap measures. The reconciliation with the appropriate gap measures can be found in our earnings release issued yesterday afternoon. I'll now turn the call over to Case.

Great. Thank you, Adam. And good morning, everyone, and thanks for taking the time to listen to our earnings call. We're in our conference room in Midland, Texas, with no air conditioning, and truly valuing the importance of American energy this morning with no air conditioning in this office. So we'll get it started. I hope you read our letter and invest your presentation and release last night, and we're going to go straight into Q&A.