Diamondback Energy, Inc.

Good day and thank you for standing by. Welcome to the Diamondback Energy Second Quarter 2026 Earnings 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 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the call over to your host today, Adam Lawlis, VP of Investor Relations. Adam, please go ahead.

Thank you, Grace. Good morning, and welcome to Diamondback Energy's second quarter 2026 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 Kaes Van't Hof, CEO, Danny Wesson, COO, Jerry Thompson, CFO, and Al Bartman, Chief Engineer. 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 indicating these forward-looking statements due to a variety of factors. Information concerning these factors can be found on the company's file 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. I'll now turn the call over to Kaes. Good morning, everyone, and I hope everybody read our shareholder letter last night. It continues to get good feedback from the investment community. And as we've done over the last couple of years, we're just going to move straight into Q&A. So, operator, please open the line up for questions.

Thank you. At this time, we will conduct the question and answer session. As a reminder, to ask the question, you'll need to press star one one on your telephone and wait for your name to be announced. To withdraw your question, please press star one one again. Please stand by while we compile the Q&A roster. Our first question comes from the line of Neil Dingman with William Blair. Neil, you're live.