Good morning, and welcome to Granite Ridge Resources Third Quarter 2022 Results Conference Call. All participants are in a listen only mode. As a reminder, this conference call is being recorded. I would now like to turn the call over to Scott Espenshade, Investor Relations. Please go ahead.

Thank you. I am Scott Espenshade, Investor Relations representative of Granite Ridge. Welcome to Granite Ridge Resources’ first conference call as a public company. Today we will be discussing the combined pro forma third quarter 2022 financial and operation information, compiled from Grey Rock’s three investment funds being shown as Grant Ridge for the conference call. Participating on today's call is Luke Brandenberg, President and Chief Executive Officer of Granite Ridge; and Tyler Farquharson, Chief Financial Officer. Please note that the third quarter information in our 10-Q reflects only the financial results and operations of Grey Rock’s Fund III as predecessor in the business combination. Granite Ridge did not conduct any activity prior to the business combination on October 24, 2022 and the predecessor, Grey Rock Energy Fund III became a subsidiary of Granite Ridge upon the closing of various formation transactions completed concurrently with the business combination. As a result, Granite Ridge results for the fourth quarter 2022 will not be comparable to the third quarter displayed in the current 10-Q. For the purposes of presenting Granite Ridge's third quarter results in today's call, Granite Ridge is presenting a summary of selected unaudited pro forma condensed combined operating and financial results for the three months ended September 30, 2022 and 2021, respectively for Grey Rock Funds I, II and III, the assets of which together with the cash remaining in ENPC's trust account following the stockholder redemptions, constitute the assets of Granite Ridge following the business combination. Today's call was pre-recorded and the playback will be available on Grand Ridge's website. Due to the nature and timing of the business combination, we will not be hosting a question-and-answer session on this call but intend to enhance disclosure as reporting normalizes for Granite Ridge. Information reconciling non-GAAP financial measures discussed to the most directly comparable GAAP financial measures is available in the Investor Relations portion of our website and in our earnings release. Today's conference call contains certain projections and other forward-looking statements within the meaning of federal security laws. These statements are subject to risks and uncertainties that may cause actual results to differ from those expressed or implied in these statements. Additional information on factors that could cause results to differ is available in the Company's 10-Q, which was filed earlier today. We would ask that you review it in the cautionary statement in our earnings release, a replay and transcript will be made available on our website following today's call and will be available for at least 14 days following the call. I will now turn the call over to Luke.

Thank you, Scott, and thank you to everyone for attending Granite Ridge's inaugural earnings call. I'm honored to have been selected to lead Granite Ridge and I'm eager to execute our strategy and seize the opportunities created by today's energy environment. We are excited to introduce you to a new public company in the oil and gas sector, Granite Ridge Resources, and its significant value opportunity, which trades under the ticker GRNT on the New York Stock Exchange. Granite Ridge is a premier non-operated oil and gas exploration and production company. We invest in a diversified portfolio of production and top-tier acreage across the Permian, Bakken, Eagle Ford, DJ and Haynes in partnership with proven operators. We create value by generating sustainable, full cycle, risk-adjusted returns for investors by offering a rewarding experience for our team and by playing our part to provide a secure, reliable energy safely and responsibly. We are well-positioned to create substantial value for shareholders. As most of you are new to Granite Ridge Resources, let me give an overview of the business combination and a short introduction as we are quite distinct from most of our peers in the sector. Granite Ridge was born out of a business combination with the private equity firm Grey Rock Energy Partners and Executive Network Partnering Corporation, a special purpose acquisition entity that traded under the ticker ENPC. Grey Rock was formed in 2013 with a goal of bringing institutional capital to the non-op sector, and it ultimately accumulated an interest in over 2,500 wells across its first three funds. Grey Rock felt that it was an opportune time to enter the public markets and partner with ENPC to form Granite Ridge. The business combination was successful and we debuted on the New York Stock Exchange on October 25th.…

Thanks, Luke, and thank you to everyone for joining our inaugural conference call. I too am grateful to humbly help lead Granite Ridge and will strive to protect and enhance its financial firepower. Let me start by describing the business combination in more detail. As a result of the business combination, Granite Ridge owns the non-operator working interest, previously held by Grey Rock’s Fund I, Fund II and Fund III portfolios. And in turn these Grey Rock Funds together with their GPs and limited partners now own equity in Granite Ridge. Going forward, the Grey Rock team will help to manage Granite Ridge through a long-term services agreement, providing technical, legal, commercial, acquisition and divestment and back office support. Granite Ridge and Grey Rock have agreed that during the term of the services agreement, which has a five-year initial term, Granite Ridge and any additional oil and gas focused funds managed by Grey Rock or its affiliates will have opportunity to jointly participate in investment opportunities for upstream, non-operated oil and gas assets, with 75% of any such future transactions allocated to Granite Ridge and 25% of any such future transactions allocated to oil and gas focused funds managed by Grey Rock or its affiliates. Granite Ridge had 132.9 million shares outstanding and there were approximately 94% redemptions, which brought approximately $21 million of cash to Granite Ridge's balance sheet, a portion of which funded transaction fees. In addition to the 132.9 million common shares outstanding, Granite Ridge has an additional 10.3 million warrants outstanding with the strike price of $11.50. Today, the Grey Rock Funds are the controlling shareholder of Granite Ridge, holding approximately 90% of the total outstanding shares. On the date of the business combination, all of Grey Rock Fund I and approximately 25% of Grey Rock…

Thank you, Tyler. To bring us home here, I'm extremely proud of our partnership with Grey Rock and ENPC. The business combination has set us up for success in public life. While we have a to do list, to enhance the investability of Granite Ridge and to continue to provide more and better information on our value proposition, we are building on a firm foundation based on a fortress balance sheet with no debt, attractive valuation underpinned by nearly 5% dividend yield and assets and processes that have a history of generating strong cash flow. I'd like to end by sharing a bit about the folks behind the Company. In addition to management and a sponsor, we are highly aligned with public shareholders. Up and down the organization, we have the right team on the right platform to consolidate the fragment non-op market and to drive long-term value for our shareholders. I'm both humbled and proud to be a part of what we are building at Granite Ridge and want to thank you for partnering with us.