Matador Resources Company

Good morning, ladies and gentlemen. Welcome to the third quarter 2022 Matador Resources Company earnings conference call. My name is Justin, and I'll be serving as operator for today. At this time, I'll participate on a listen-only mode. We will facilitate a question and answer session at the end of the company's remarks. As a reminder, this conference is being recorded for replay purposes and the replay will be available on the company's website for one year as discussed in the company's earnings press release issued yesterday. I would now like to turn the call over to Mr. Mack Smith, Vice President Investor Relations for Matador. Mr. Smith, you may begin.

Thank you, Justin. Good morning, everyone, and thank you for joining us for Matador's third quarter 2022 earnings conference call. Some of the presenters today will reference certain non-GAAP financial measures regularly used by Matador Resources in measuring the company's financial performance. Reconciliations of such non-GAAP financial measures with the comparable measures calculated in accordance with GAAP are contained at the end of the company's earnings press release. As a reminder, certain statements included in this morning's presentation may be forward-looking and reflect the company's current expectations or forecasts of future events based on the information that is now available. Actual results and future events could differ materially from those anticipated in such statements. Additionally, information concerning factors that could cause actual results to differ materially is contained in the company's earnings release and its most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q. In addition to our earnings press release, I would like to remind everyone on the call that you can find a slide presentation in connection with the third quarter 2022 earnings release under the investor relations tab on our website. And with that, I would now like to turn the call over to Mr. Joe Foran, our founder, chairman, and CEO. Joe?

Thank you, Mac. As we begin this call, we're very excited about the way this year has developed and We're looking forward to finishing it off during the fourth quarter and have full year results. But everything to this point has been working for us. And as you can see through the year that we've made a real effort to improve the fixed dividend and to reduce debt and to increase production reserves and increase the value contribution of our midstream assets and we feel we've made improvement in all areas and appreciate your interest and support notably just kind of put a couple of numbers in perspective we went public a little over ten years ago and we have more cash on the balance sheet today than was the whole market value of Matador at that time. We also have more cash on the balance sheet than first Matador sold for. So the improvement has come from a lot of people pushing on the rock, great work and support by our board in helping us make decisions, great decision making among the staff, uh, here and a lot of individual ways out there in the field. And we think our forward outlook is positive, and we intend to continue to grow, as we say, profitable growth at a measured pace. And with that, Mac, I'm open for questions. Great. Justin, we'll start with some questions.