Vitesse Energy, Inc.

Greetings. Welcome to VTES Energy's full year 2022 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. Please note this conference is being recorded. I will now turn the conference over to Ben Messier, Director, Investor Relations. Thank you. You may begin. Thank you.

Good morning and thank you for joining Tessa's first conference call as an independent publicly traded company. Today we will be discussing our financial and operating results for the full year 2022, which we released yesterday after the market closed. You can access our earnings release on our investor relations website and our Form 10-K will be filed with the SEC in the coming days. We have also posted a new investor presentation on the website. I'm joined here this morning with Vitesse's chairman and CEO, Bob Garrity, our president, Brian Cree, and CFO, Dave McCosko. Our agenda for today's call is as follows. Bob will provide opening remarks regarding Vitesse and our return of capital strategy. After Bob, Brian will give you an overview of our asset and operations, and then Dave will review our 2022 financial results and 2023 guidance. After the conclusion of our prepared remarks, the executive team will be available to answer questions. Before we begin, let's cover our safe harbor language. Please be advised that our remarks today, including the answers to your questions, may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements are subject to the risks and uncertainties, some of which are beyond our control, that could cause actual results to be materially different from the expectations contemplated by these forward-looking statements. Those risks include, among others, matters that we have described in our earnings release. We disclaim any obligation to update these forward-looking statements, except as may be required by applicable securities laws. During our conference call, we may discuss certain non-GAAP financial measures, including adjusted EBITDA, debt to adjusted EBITDA, and free cash flow. Reconciliations of these measures to the closest GAAP measures can be found in the earnings release that we issued yesterday. With that, I will turn the call over to our Chairman and CEO, Bob Garrity.

Thanks, Ben. Good morning, everyone, and thanks for participating. The TESS Energy Inc. began trading on the New York Stock Exchange under the ticker VTS on January 17th. The TESS is focused on returning capital to its stockholders through owning financial interests as a non-operator in oil and gas wells drilled by leading U.S. operators. As part of this return of capital strategy, we declared a quarterly cash dividend of 50 cents per share to be paid in the first quarter of 2023 and also approved a $60 million share repurchase program. We have a strong alignment with our shareholders as the Vitesse management team and board, combined with other members of Jeffrey's management, collectively own approximately 30% of the outstanding shares of the test. Our existing asset provides significant cash flow and includes a deep inventory of economic drilling locations. Our capital allocation strategy starts with the return of capital to our shareholders through paying our quarterly dividend. Next, our returns-based hierarchy focuses on organic CapEx and acquiring near-term development opportunities, followed by other asset acquisitions. Finally, remaining cash flow will be allocated to share repurchases or debt repayment. We are grateful to Jefferies for their support from 2014 to today, and we are excited to run Vitess as an independent, public company and look forward to our future financial success. Now I'll hand it over to our President, Brian Creed, to discuss our operations.