Kimbell Royalty Partners LP

Greetings and welcome to Kimbell Royalty Partners' second quarter earnings conference call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Rick Black. Thank you. You may begin.

Thank you, operator, and good morning, everyone. Welcome to the Kimball Royalty Partners conference call to review financial and operational results for the second quarter of 2024, which ended June 30th, 2024. This call is also being webcast and can be accessed through the audio link on the events and presentations page of KimballRoyaltyRP.com. Information recorded on this call speaks only as of today, which is August 1, 2024, so please be advised that any time-sensitive information may no longer be accurate as of the date of any replay listening or transcript reading. I would also like to remind you that the statements made in today's discussion that are not historical facts, including statements of expectations or future events or future financial performance, are considered forward-looking statements made pursuant to the Safe Harbor's provision of the Private Securities Litigation Reform Act of 1995. We will be making forward-looking statements as part of today's call, which by their nature are uncertain and outside of the company's control. Actual results may differ materially. Please refer to today's earnings press release for our disclosure on forward-looking statements. These factors and other risks and uncertainties are described in detail in the company's filings with the Securities and Exchange Commission. Management will also refer to non-GAAP measures, including adjusted EBITDA and cash available for distribution. Reconciliations to the newest GAAP measures can be found at the end of today's earnings release. Kimball assumes no obligation to publicly update or revise any of these forward-looking statements. I would now like to turn the call over to Bob Ravenous, Kimball Realty Partners Chairman and Chief Executive Officer. Bob?

Thank you, Rick, and good morning, everyone. We appreciate you joining us on the call this morning. With me today are several members of our senior management team, including Davis Ravnis, our president and chief financial officer, Matt Daley, our chief operating officer, and Blaine Rheinsberger, our controller. We are pleased to report solid results for the second quarter with strong cash flow, continued debt pay down, and lower cash G&A costs. Our rig count remains robust at 91 rigs actively drilling across the U.S., which represents a 16% market share of all land rigs currently drilling in the continental United States. In addition, our line of site wells continue to be meaningfully above the number of wells needed to maintain flat production, giving us confidence in the resilience of our production as we progress through 2024. Finally, we announced a 42-cent distribution per common unit as we continue to focus on returning value to unit holders. Before turning the call over to Davis, I wanted to acknowledge the passing of Ben Fortson, who was one of Kimball's original directors, my friend and colleague. Ben had decades of industry experience serving as president and CEO of Fortson Oil Company and serving as the chief investment officer and executive vice president of the Kimball Art Foundation since 1975. Ben was an essential part of our success and evolution here at Kimball. He helped create Kimball Royalty Partners, participated in our IPO in 2017, and continues to serve on our board of directors in 2024. I will miss Ben's wise counsel, vision, and excellent investing skills that contributed to the success of Kimball over the years. We will miss his advice, sense of humor, and friendships. I'll now turn the call over to Davis.