Good afternoon, and welcome to SM Energy's Third Quarter 2023 Results Webcast. Before we get started on our prepared remarks, I'll 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. I will start on Slide 4. We are very pleased today to discuss our third quarter and year-to-date results. You'll see that we continue to deliver on our core strategic objectives for 2023, demonstrate the quality of our assets and position our company for an even stronger 2024. I'll start by reviewing our progress against the objectives we set forth early in the year. First, deliver an increased return of capital to our shareholders. In the third quarter, return of capital amounted to $114 million, which is up 31% from the previous quarter. In addition to the dividend, we repurchased and retired 2.35 million shares of stock. From inception of the return of capital program in September 2022, we have now repurchased 7.7 million shares or around 6% of the shares that were outstanding as of September 2022. Looking ahead, I'm very pleased to announce a 20% increase in our fixed dividend policy. As we emphasize when we initiated the return of capital program, we seek to offer a sustainable dividend through the cycles in our industry. This increase is a testament to the confidence we have in our assets, capabilities, performance and outlook. Turning now to Slide 5. The second objective is to focus on operational execution. This quarter, we enjoyed continued strong well performance in both the Midland Basin and South Texas. This was complemented by faster drilling and the accelerated completion of three wells in South Texas. Also this quarter, our land team executed an asset exchange at our Sweetie Peck location. This increased our working interest from around 42% to nearly 100% in 9 15,000-foot lateral drilled but uncompleted wells which we expect to be strong performers when they are turned in line early in 2024. Looking ahead, these wells are expected to contribute to our estimated mid-single-digit oil growth next year. Our third objective is to replace and build inventory during 2023. Year-to-date, we have increased our Midland Basin footprint by just over 29,000 acres or about 35%. We contracted a fourth rig for the Midland Basin that commenced drilling on a Howard County pad in early October. We intend to move it to our new acreage position in North Martin and South Dawson Counties in December once permits and other logistics are in place. Looking ahead, this rig is currently contracted for 6 months, and we are excited to initiate drilling in the new area, which we expect to contribute to both our high-quality inventory and 2024 oil production growth. In short, we have exceeded expectations on all fronts this year. As we wrap up the last 2 months of 2023, we expect to remain well positioned for a positive trajectory in 2024. I'll now turn it over to Wade to speak to some of the specifics behind these results and what to expect in the fourth quarter. Wade?

Thanks, Herb. Good afternoon, everyone. Before I get into the details of the quarter, I'd like to step back, put some numbers behind the strategic objectives that Herb just walked through. Turning to Slide 6. Our sustainable and repeatable long-term business model is generating substantial free cash flow a 7% yield to current market cap over the last 12 months. In turn, we allocate that free cash flow with disciplined objectives to generate long-term value. We seek to: one, maintain low leverage; two, maintain and build our high-quality inventory base; and three, return to predictable yield with upside opportunity to our stockholders. Drilling down on capital allocation. On the top half of the slide at January 1, 2022, SM started the year with $333 million in cash and since then, generated $1.2 billion of adjusted free cash flow. This has been allocated using round numbers as follows: approximately 50% to 55% to debt reduction reducing our net debt to adjusted EBITDAX from 1.5x to currently 0.7x, 10% to acquisition/inventory and 30% as a return of capital to stockholders with the cash balance increased to around $400 million. Then looking at the bottom half of the slide, we show these metrics for 2023 year-to-date. We entered 2023 with $445 million in cash and had essentially met our leverage target. This year-to-date, we have generated $353 million of adjusted free cash flow with low leverage in place, we've been able to lean in further on the return of capital to our stockholders while still maintaining inventory. Year-to-date, capital allocation has been approximately 65% to stockholders and 30% to acquisitions and increased acreage. Looking ahead, I think you can assume that we will continue to maintain a thoughtful balance for long-term sustainability. Turning to Slide 7 and a quick look at the balance…

Thank you, Wade. At SM, we differentiate ourselves with the high quality of our asset base and the high caliber of our geoscience team targeting the best reservoir intervals, our engineering team using cutting-edge simulation and data-driven analytics to optimize completion designs, and that is followed by flawless execution from our operations team. The following slides present third-party data from JPMorgan, Enverus, Rystad and TD Cowen, who all agree with us that our optimization efforts over the years continue to deliver improved performance. Skipping to Slide 13 and Midland Basin well performance relative to peers. On the left, Gabe Daoud at TD Cowen looks at oil production per foot over the past 3 years from SM compared to 20 other Midland peers, a full set of peers, and pointed out in his words, “SM is Numero Uno.” On the right side, we see Enverus data that shows EURs by operator in the Midland Basin and compares SM to 12 peers. Again, SM is the leader. This didn't just happen. Our investment in people and cutting-edge data and technologies ultimately leads to the differential bottom line performance that is demonstrated here. Turning now to Slide 14 and capital efficiency. On the left, we again see Enverus data. This time, looking at capital efficiency or capital cost per barrel of EUR by operator in the Midland Basin. Here, SM is among the top 4 leaders. On the right side, we present Rystad data for efficiency and proppant pumping. SM ranks #2 among 27 Permian peers for proppant pump per day. Behind the data, comparing SM to the top listed peer SM laterals are about 5% longer and SM pumps on average 15% to 20% more proppant per foot. Again, our application of data and technology leads to these demonstrated peer-leading efficiencies. Turning…