HighPeak Energy, Inc.

Thank you for standing by, and welcome to High Peak Energy's second quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker 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. To remove yourself from the queue, you may press star 1-1 again. I would now like to hand the call over to Stephen Tholen, CFO. Please go ahead.

Good morning, everyone, and welcome to High Peak Energy's second quarter 2025 earnings call. Representing High Peak today are Chairman and CEO Jack Hightower, President Michael Hollis, Vice President of Business Development Ryan Hightower, and I'm Stephen Tholen, the Chief Financial Officer. During today's call, we may refer to our August investor presentation and our second quarter earnings release, which can be found on High Peak's website. Today's call participants may make certain forward-looking statements relating to the company's financial condition, results of operation, expectations, plans, goals, assumptions, and future performance. So please refer to the cautionary information regarding forward-looking statements and related risks in the company's SEC filings, including the fact that actual results may differ materially from our expectations due to a variety of reasons, many of which are beyond our control. We will also refer to certain non-GAAP financial measures on today's call, so please see the reconciliations in the earnings release and in our August investor presentation. I will now turn the call over to our chairman and CEO, Jack Hightower.

Thank you, Steve. Good morning, ladies and gentlemen, and thank you for joining us today for our Epic Energy second quarter conference call. I'd like to thank the entire High Peak team for all their hard work and continued dedication to the company while I was out during the quarter recovering from my accident. I'm extremely fortunate to report that I'm feeling much better and am now back in the Provo Real saddle. Now turning our attention to High Peak's second quarter results, we achieved another really strong quarter of production, albeit a little slower than first quarter levels, which was expected due to timing of termed-in lines and with our deliberate reduction in development activity. In the face of lower commodity prices driven by geopolitical issues, the effect of newly instituted tariffs, and global macroeconomic uncertainties, our margins remained quite strong at 33.58 per barrel of oil equivalent, allowing us to generate over 155 million of EBITDAX during the quarter. We reduced activity in mid-May as prudent allocators of capital, and in conjunction with that decision, our second quarter CAPEX spend was actually 30% lower than our first quarter spend. I'd like to remind everyone that due to the timing of bringing on large multi-well pads and our deliberate reduction of activity dropping down to one red for a specified period of time, and modifying our completion schedule with prescribed pauses of frac activity, our overall volumes will fluctuate from quarter to quarter. However, with our current development plan in place, we still feel confident that we'll achieve our 25 production guidance. We're really excited about the recent refinancing of our term loan and super priority RBL and all the associated benefits and we've added in some additional hedges since the quarter end, which will help us insulate from further potential downside in commodity prices as we move forward. And now I'd like to turn the call over to Ryan Hightower to discuss the details of the term line, Ryan.