Good afternoon and welcome to SM Energy’s Second Quarter 2024 Results Webcast. Before we get started on our prepared remarks, I remind you that our discussion today will include forward-looking statements. I direct you to Slide 2 of the accompanying slide deck, Page 6 of the accompanying earnings release, and the risk factors section of our most recently filed 10-K, which describe risks associated with forward-looking statements that could cause actual results to differ. We will also discuss non-GAAP measures and metrics. Definitions and reconciliations of non-GAAP measures and metrics, to the most directly comparable GAAP measures, and discussion of forward-looking non-GAAP measures, can be found in the back of the slide deck and earnings release. Today’s prepared remarks will be given by our President and CEO, Herb Vogel, and our CFO, Wade Pursell. I will now turn the call over to Herb.

Thank you, Jennifer. Good afternoon and thank you for your interest in SM Energy. We had a terrific second quarter and have enjoyed excellent operational performance year-to-date. We have also successfully been expanding our top-tier portfolio while managing a very strong balance sheet. Turning to Slide 4. Every quarter I speak to progress we are making on our core objectives for the year. I’ll start with our objective to expand our high-quality portfolio with low breakevens. Today we announced that we are exercising our option to acquire 26,100 net acres adjacent to the XCL acquisition in Utah, commonly referred to as the Altamont acquisition, for approximately $70 million. Combined with the XCL acquisition, we are adding 63,300 net acres in the core, over-pressured oil window of the Uinta Basin, including approximately 44,000 Boe per day of high oil content production and an initial estimate of 465 net locations. Assuming PDP valued at $35,000 per Boe per day, we paid around $1.25 million per location, based on our preliminary counts, including Altamont. This is highly accretive to financial metrics including NAV. Second, production performance exceeded the mid-point of guidance by about 2,500 Boe per day with higher oil content, successfully demonstrating our core objective to focus on operational execution. In addition, we turned-in-line our first Woodford-Barnett test wells in the Midland Basin and are very pleased with early results and the potential to add more than 20,000 prospective net acres in this deeper formation. More about that in a minute. The third core objective is return of capital. We repurchased more than 1 million shares in the second quarter and, in combination with our sustainable dividend, returned approximately $72 million to stockholders. Our Board authorized an 11% increase in the quarterly dividend to $0.20 per share and reloaded the share repurchase…

Thank you, Herb. Good afternoon. I will certainly echo that it has been a terrific year, and the SM team has done a great job on a number of fronts. I’ll start on Slide 12. In regards to the second quarter financial results, we beat guidance and consensus expectations driven by higher than projected production volumes, which as Herb mentioned came in about 2,500 Boe per day above the mid-point. Importantly, this included over 4,000 barrels per day more oil production than the mid-point of guidance. This was driven by continued strong performance from base production in the Midland Basin and new South Texas wells that came on with higher-than- expected oil content. Second quarter results were pretty straightforward, so there is not much need to go into detail by line item. Capital was slightly above guidance, which was a result of taking advantage of favorable terms on a bulk pre-purchase of pipe that had not been considered in second quarter guidance. This added around $12 million whereas, otherwise, we would have come in below guidance. Bottom line, adjusted EBITDAX was $486 million, adjusted free cash flow was $98 million and return of capital was $72 million. An excellent quarter. Moving to Slide 13. Summarizing the return of capital program, we have repurchased 8% of shares outstanding since inception. We repurchased more than 1 million shares in the second quarter, repurchased 1.8 million shares year-to-date and repurchased 10.1 million shares since inception of the program. Including return of capital through dividends, we returned to stockholders approximately $72 million, or 73% of adjusted free cash flow, in the second quarter, $125 million, or 75% of adjusted free cash flow, year-to-date and $0.5 billion, or 54% of adjusted free cash flow, inception-to-date. Confidence in our expanded portfolio supported a further increase in…