PHX Minerals Inc.

Good morning and thank you for attending PHX Minerals June 30th, 2023 quarter end earning conference call. At this time, all lines will be muted during the presentation of the call with an opportunity for a question and answer session at the end. As a reminder, this call is being recorded. I would now like to turn the call over to Rob Fink with FNK IR. Please go ahead, sir.

Thank you for joining us today to discuss PHX Minerals June 30th, 2023 quarter end results. Hosting the call today are Chad Stephens, President and Chief Executive Officer, Ralph D'Amico, Senior Vice President and Chief Financial Officer, Danielle Mezzo, Vice President of Engineering. The earnings press release that was issued yesterday after the close was also posted on PHX's investor relations websites. 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 expectations of the company. These estimates and 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 quarterly reports on Form 10-Q or other reports filed with the SEC. The statements made during the call are based upon information known to PHX as of today, August 9, 2023, and the company does not intend to update these forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law. With all that said, I'd like to turn the call over to Chad. Chad, the call is yours.

Thanks, Rob, and thanks to all of you on this call for participating in PHX's June 30, 2023 quarter end conference call. We appreciate your interest in the company. As you may have seen a few moments ago, White Hawk Energy issued a public letter indicating its interest in merging with PHX Minerals. The Board will be reviewing the White Hawk letter and evaluating the proposal carefully. At this time, we have nothing further to say about this matter, and we will not be taking questions regarding White Hawk's expression of interest. For the second quarter, I am pleased with our performance despite historically low natural gas prices, and I'm encouraged about future quarters given the significant improvement in the macro dynamics. During the second quarter, we continued to experience robust activities across the acreage. Despite weak commodity prices, there was a notable improvement in our market share of operating rigs within our focus areas. Based on the activities in our inventory of wells, permitting and well conversions to production, we are confident in meeting the production forecast we communicated earlier in the year. As a matter of fact, we are raising the lower end of our guidance slightly higher based on improving conditions, progress to date, and enhanced visibility. Ralph will discuss more on this later. As I have previously stated, it is more accurate to measure our royalty volume growth on a year-over-year basis instead of a sequential quarter. This eliminates the lumpiness created by operator timing. In fact, we are on track to achieve annual year-over-year royalty volume growth approximately 25 percent in calendar 2023. We believe the second quarter appears to be the bottom of natural gas prices as supply and demand imbalances continue to improve. As we look forward toward 2024 and 2025, demand from LNG export will be a significant demand driver to the natural gas market. During the quarter, several natural gas operators have signed heads of agreements, or HOAs, with LNG operators. As we draw closer to the commissioning of these additional LNG facilities, we believe it will drive improvement in sentiment as well as prices. The Hainesville will be the primary source to feed these LNG facilities. Even though natural gas prices were at historical low levels this quarter, PHX continued to generate cash flow fund acquisitions, and maintain ample liquidity, demonstrating the advantage of our mineral business model. 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.