Tim Resvan

“We noticed one of your large peers who operates in the Permian has been acquiring royalties with more of a longer-term focus as the deeper Permian zones sort of get delineated.”

“We appreciated the detailed update about your operating agreements and the release. So I just wanted to ask, kind of with that Cateris expansion, where do you stand with resource capture At this point, you've spent about $335 million.”

“So I thought I'd start, you know, I thought we might get a guidance update today. It sounds like we'll have to wait for the drop-down to close in a couple weeks.”

“You know, we've seen this pattern from Matador in the past with advanced and AmeriDev where you make a large acquisition, generally cash, and then there's a period of sort of digesting and delevering after that.”

“Paul, I was wondering, as a starter, if you can give us a little more detail on next steps at Dynaris. You mentioned late 2026 as the timing of appraisal results.”