Sitio Royalties Corp.

Good morning. My name is Samantha, and I will be your conference operator today. At this time, I would like to welcome everyone to the CISIO Royalties Second Quarter 2022 Earnings Conference Call. Our lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press the pound key. Thank you. I will now turn the call over to Ross Wong, Senior Director of Corporate Finance and Investors Relations.

Ross, you may begin your conference.

Thanks, Operator, and good morning, everyone. Welcome to CITIO Realty's second quarter 2022 earnings call. If you don't already have a copy of our recent press release and updated investor presentation, please visit our website at www.citio.com. where you will find them in our investor relations section. With me today to discuss second quarter 2022 financial and operating results is Chris Conocenti, our chief executive officer, and Kerry Osica, our chief financial officer, and other members of our executive leadership team. Before we start, I'd like to remind you that our discussion today may contain four looking statements. These statements may include or are not limited to estimates of future volumes, operating expenses, and other financial metrics. They may also include statements concerning anticipated cash flow, liquidity, business strategy, and other plans and objectives for the company. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can provide no assurance that such expectations will prove to be correct. Please see our Form 10-Q, which was filed with the SEC on August 8, 2022, the company's proxy statement on Schedule 14A, filed with the SEC on May 5th, 2022. Our annual report on Form 10-K for the fiscal year ended December 31st, 2021, as well as other SEC filings for listening factors that could cause actual results to differ materially from expected results. Please also note that on this call, we may use the terms EBITDA, adjusted EBITDA, discretionary cash flow, and cash GNA. These are financial measures that are not presented in accordance with U.S. generally accepted accounting principles. While CTO believes such non-GAAP measures are useful for investors, they are not measures of financial performance under GAAP and should not be considered in isolation or as an alternative to any measure of such performance derived in accordance with GAAP. These non-GAAP measures have limitations with analytical tools, and you should not consider them in isolation or as substitutes for analysis of results that are reported under GAAP. These non-GAAP measures may not be comparable to similarly titled measures used by other companies in our industry or across different industries. These are non-GAAP financial measures, and we have provided reconciliations to the most directly comparable GAAP measures in our most recent earnings release.