Brigham Minerals, Inc. Class A

Good morning and thank you for attending today's Brigham Minerals first quarter 2022 earnings conference call. My name is Sam and I will be the moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. If you'd like to ask a question please press star followed by one on your telephone keypad. This time I'd like to turn the call over to our host Jacob Sexton, Investor Relations. Jacob please proceed.

Thank you, Operator, and good morning, everyone. Welcome to the Brigham Minerals first quarter 2022 earnings conference call. Joining us today are Bud Brigham, founder and executive chairman, Rob Rosa, founder and chief executive officer, and Blake Williams, chief financial officer. Before we begin, I would like to remind you that our remarks, including the answers to your questions, contain forward-looking statements. We refer you to our earnings release for a detailed discussion of these forward-looking statements and the associated risks. In addition, during this call, we make references to certain non-GAAP financial measures. Reconciliations to applicable GAAP measures can also be found in our earnings release. We have a new investor presentation titled First Quarter 2022 Investor Presentation available for download on our website, www.brighamminerals.com. We recommend downloading the presentation in the event we refer to it during the conference call. Lastly, as a reminder, today's call is being webcast and is accessible through the audio link on our IR website. I would now like to turn the call over to Bud Brigham, Founder and Executive Chairman.

Bud Brigham Thank you, Jacob, and thanks to everyone for joining us on our first quarter 2022 earnings conference call. On both our year-end 2020 and 2021 conference calls, I indicated that companies that are optimally positioned are going to generate substantial returns for shareholders in the current energy super cycle. More specifically, I stated that Brigham Minerals was uniquely positioned to succeed this year, given both our activity well inventory and high-quality undeveloped inventory. Our quarterly results reflect that outperformance. Our team generated record production, revenues, EBITDA, dividends, and drilling activity. The exceptional performance was driven by our incredibly strong duct conversions, which were almost entirely backfilled by our record drilling activity during the quarter. I believe our high-quality activity well inventory will continue to generate outperformance as we look to the remainder of 2022 and into 2023. With respect to the current macro environment, despite the recent COVID concerns in China, I see no fundamental departure from my view that we are in the midst of the early stages of an extended energy supercycle. U.S. shale is still moderating production growth, and there are supply chain issues, including a constrained supply of materials, including tubulars and sand, and of course labor is in short supply. We also continue to see the U.S. duck inventory decline, thereby mitigating our industry's ability to quickly ramp up supply. All of these factors and others point to a longer runway of elevated oil and gas prices and strong economic returns. Therefore, companies such as ours that are optimally positioned with premium assets will continue to generate substantial returns for our shareholders. With that, I will turn the call over to Rob.