PHX Minerals Inc.

Good morning, and thank you for attending today's PHX Minerals Fiscal 2022 Fourth Quarter and Year-End Earnings Conference Call. At this time, all lines will be muted during the presentation of the call with an opportunity for a Q&A session at the end. If you need operator assistance during the call, please press star zero on your telephone keypad. As a reminder, this call is being recorded. I would now like to turn the call over to Stephen Lee with FMK IR. Please go ahead, sir.

Thank you, operator, and thank you all for joining us today to discuss PHX Minerals' fiscal 2022 fourth quarter and year-end results. Joining us on the call today are Chet Stephens, President and Chief Executive Officer, Ralph D'Amico, Senior Vice President and Chief Financial Officer, and Daniel Mezzo, Vice President of Engineering. The earnings press release that was issued yesterday afternoon is also posted on PHX Investor Relations' website. Before I turn the call over to Chad, I'd like to remind everyone that during today's call, including the Q&A session, management may make forward-looking statements regarding expected revenue, earnings, future plans, opportunities, and other expectation of the company. These estimates and other forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those expressed or implied on the call. These risks are detailed in PHX Minerals' most recent annual report on Form 10-K, as such may be amended or supplemented by subsequent quality reports on Form 10-Q or other reports filed with the Security and Exchange Commissions. The statements made during this call are based upon information known to PHX as of today, December 14, 2022, and the company does not intend to update these forelooking statements, whether as a result of new information, future events, or otherwise, unless required by law. With that, I'd like to turn the call over to Chad Stephens, PHX Chief Executive Officer. Chad?

Thanks, Stephen, and thanks to all of you on this call for participating in PHX's fiscal 2022 year-end conference call. We appreciate your interest in the company. This year was a year of tangible progress for PHX, and we enter the new fiscal year 2023 poised for significant improvements in our financial results. Our strategic transition began in late 2019 under new leadership. This strategy to high grade our asset base by exiting high cost legacy assets and transition to a low fixed cost pure royalty production model is coming into sharp focus. The results reflect significant improvements in our profitability and cash generation. and we expect this trend to continue. We are executing according to our stated plan, growing our royalty reserves through our targeted mineral acquisition program. Both royalty production and royalty reserves reached all-time high levels in the fourth fiscal quarter of 2022. 2023 will prove to be the final year of this formative transition as we plan to divest a material portion of our remaining legacy non-operated working interest assets, after which royalty volumes will represent greater than 90% of total corporate volumes and working interest volumes will be virtually immaterial. Our stated strategy is to allocate capital to the acquisition of existing and near-term potential royalty production with a heavy weighting toward natural gas. This strategy is working, delivering returns ahead of our expectations. Encouragingly, our pipeline for acquisitions in our targeted regions remains robust. We operate in something of a sweet spot in the industry, with sufficient scale and operational expertise to outperform small competitors, but nimble enough to pursue acquisitions the size of which are not material enough to capture the larger competitor's interest. In addition, supply and demand for natural gas remains favorable, giving us the commodity price leverage to improve profitability and cash flow. Our plan remains the same, to utilize most of our pre-cash flow to acquire more natural gas weighted mineral and royalty assets that contain additional development drilling locations which we expect will quickly convert to increase royalty production volumes. Simultaneously, as we continue to scale and expand profitability, we will be positioned to continue to increase our cash dividend, which has risen 125% over the last six quarters. At this point, I'd like to turn the call over to Danielle to provide a quick operational overview and then to Ralph to discuss the financials. Danielle?