Matador Resources Company

Good morning, ladies and gentlemen. Welcome to the second quarter 2024 Matador Resource Company Earnings Conference Call. My name is Marvin Rivas, and I'll be serving as the operator for today. At this time, all participants are in listen-only mode. We will facilitate a question and answer session at the end of the company's remarks. As a reminder, this conference has been 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 issue yesterday. And I'll turn the call over to Mr. Max Schmitz, Senior Vice President, Investment Relations for Matador. Mr. Schmitz, you may proceed.

Thank you, Marvin. And good morning, everyone. And thank you for joining us for Matador's second quarter 2024 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 financial 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. Additional 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 that you can find a slide presentation in connection with the second quarter 2024 earnings release under the investor relations tab on our corporate website. And with that, I would now like to turn the call over to Mr. Joe Foran, our chairman, founder, and CEO. Joe?

Thank you, Mac. And welcome to the call. We appreciate you taking the time to tune in. We are excited by this quarter. We're even more excited about the quarters to come in the year ahead. The teams have really worked hard and I'd like to emphasize the amount of teamwork that's behind these numbers that everybody has done their part and want to invite all of you to come see us sometime to see the teamwork, have lunch with them or breakfast and you can hear how they really do come together and work as a team which I think has produced these good results. In particular, I have some slides that are on our website that connect to the press release itself and really encourage you to take a look at those. I think they help fill out the story. In particular, when we went public in 2012, we were making about 3,300 barrels a day, and today we're over 95,000. So it's been consistent growth across that time and a lot of teamwork and a lot of extra effort by a lot of people. And I want to thank them, and particularly our guys in the field who, like this past quarter, in very hot weather, have kept everything going. And in the cold weather, they're still out there getting it done. So without that help carrying through, it'd be difficult to sustain this. The net result is that we're reporting that we now have approved reserves of over 500 million of Matador only. And then AmeriDev, if that closes with the customary contingencies and government approvals, we will be boosted to over 600 million. So things are on the right track. We anticipate these next two quarters. There's a lot of work to be done. But if the teams keep working as they have been, I'm confident I'll be here in 90 days telling you again what a good quarter we have. If you like this last one, this next one should be better. And with that, let me open the phone to questions. I try to help, but again, I want you all to know that you all are welcome to come visit and meet with us. Of course, I think that for all the capital and all the technology this business requires, I still think it comes down to people and meeting us in person to get a feel for the way we do things and the caliber of people I think is important, but I don't want to try to tell you how to do your job. I just want you to know you're welcome. Marvin, we're ready for Q&A.