But this morning, I want to present what we believe is a very exciting energy story. I guess I got the clicker. You are supposed to read this page. I am going to focus first on just what the strategy of the company is. It is a closed-loop strategy. Look at that image on the right-hand side of the slide. It brings together upstream power, upstream as natural gas power, carbon capture, as well as the midstream. This forms what we call a closed-loop energy strategy, and effectively it is a vertically integrated model. What this strategy does for us and what is continued to prove out, we did IPO in September of 2024. One of the attractions was this closed-loop strategy. If we think about how it is played out today, what it allows us to do is optimize margins, having that synergistic, integrated model, and then two, ultimately provide a net zero power or net zero gas usage. I will talk more about that, but that is the heart of the strategy. If you look at what assets underpin it on the left-hand side of the slide, upstream, we are the largest producer in the Barnett. We have a position in the Marcellus, 120 million a day, but primarily Barnett. Right now we are pushing 1 BCF a day between both entities combined. Low PDP, so 11% decline. That means less capital and generates significant free cash flow. Second is our power operating assets. In the heart of ERCOT, 1.5 GW today. Those have been operating for a number of years. Great track record. CCGTs in the heart of ERCOT. I am going to speak more about our power plans. A lot of growth opportunity there, as you see in that third bullet point. Fourth, our carbon capture project. Three operational projects in the U.S. My lawyers will not let me say this, but I will say that. I will say we are one of, I will caveat and say, one of any company in the U.S. to have three sequestration projects. I think we are the only one with three, but significant advance there. I will talk more about that. You see that closed-loop strategy. Then finally, ultimately, what is our goal as a company? Our goal as a company is to earn more dollars for every energy molecule that comes through our doors. One way we can do that is by taking what is a volatile business, commodity cash flows, everybody knows it is very volatile, and through contracting that, we can de-volatize that revenue stream. Ultimately, we believe that commands a higher multiple, and then we will use that multiple to generate additional opportunities for the growth platform. Let me get into, I am going to skip over the asset base. Just pictorial there. I covered all that in the prior slide. What is the strategy provide for us today? We are exposed to the biggest mega trends in energy. If you go through the different components here, natural gas demand growth, obviously a lot of tailwinds there. If you look at where we are positioned, the Gulf Coast, LNG, well-positioned for that. That is going to help pricing differentials in the years ahead. Power, ERCOT, this has been well documented. This is ERCOT's numbers, not ours. Potential large load growth, 20x+ between now and 2032. Then again, low carbon solutions. This is no longer sexy. This has kind of disappeared in the last couple of years, but we've remained committed to the business. We think the underlying fundamentals are very strong. So we see 25% CAGR growth between now and the end of the decade. Let me get into our strategy. One nice thing about having three different business units, three distinct sectors that work together, is that it allows us differentiation, diversification, and allows us to capitalize and be opportunistic, depending on what the market's showing us and what the opportunities are presented today that is in power. I am going to cover our power strategy briefly and then go into kind of the assets of more of a deep dive in the assets on the upstream and power side. But from a big picture perspective, this is what has generated a lot of attention in the stock, investors, analysts, so thought I'd focus on this. We have a multi-phased approach here. So it is going to take us from 1.5 GWs today to essentially double that to 2.9 GWs. Let me go through each of these phases quickly. Today, you will see T1 and T2, that moniker on the lower left, that's Temple 1, Temple 2. That's where our assets are located. 1.5 GWs operational today and has been for a number of years, as I mentioned. phase I is modular. So we have modular, it has been ordered. You see on this slide, 200 MW. We think that's, well, not we think, but that could be upsized to 400 depending on commercial demand, but we will call it 200 today. Phase II is taking that 1.5 GWs, taking 750 MW of that and contracting that through a PPA. So phase I would have a PPA for the modular. Phase II would have a PPA for taking the 750 off. Again, it speaks to that strategy of taking a volatile cash flow stream, particularly a merchant energy business in Texas, de-volatizing that and locking in contracted cash flows. phase III and phase IV. So we do have two turbines on a reservation, two CCGTs with a large OEM, somebody everybody would recognize. We are not allowed to say for NDA reasons, but we plan to build, assuming we get a PPA done, this is all dependent, of course, on getting a PPA signed. We have a lot of commercial momentum. I will talk more about that. But we see phase III would be a new build, 600 MW added, and then phase IV, another new build, 2.9 would be the ultimate total. So doubling, phased approach. A lot of commercial momentum behind this. Let me talk about these two projects since they are the top of the focus today, the top of the focus of what the company's working on. One, and as you can imagine, a lot of operational, a lot of technical work going on behind the scenes on this. Temple, where our two existing plants are. About a year ago, we brought an advisor for a reverse auction process. That's allowed us to narrow down. We brought an offering to the market. We had dozens of counterparties, but the advisor particularly has helped us to, if we will, contract that to a very small group of companies we are having discussions with. This would be, again, a phased approach. We have to secure a customer that is going to help us with that phase I, phase II, and phase III, be a partner in those processes. We still expect there has been a lot of noise coming out of ERCOT on the regulatory front. Modular is exempt from that process, so it is largely unencumbered by any regulatory constraints. We recently received, in the second quarter, an air permit for 400 MW for a modular. We are moving forward with that. We still have a target of announcing late this year, early next year, first quarter of next year. We remain on track for that. Ultimately, we see a lot of opportunities here, and we see this being a kind of a platform for growth for a GW-plus, whether it is AI data center or the ultimate end user. The second marquee project, and we do have more in the pipeline. These are the ones we have talked about publicly. Is Jack County. Jack County, for those of you not familiar, in North Texas, located near Dallas. We recently entered an agreement to acquire 6,200 acres. We have a, what lawyers will tell me, I can say, is an interested party as part of that process. But 6,200 acres. The initial footprint here would be a CCGT plant, one of those two I mentioned on the prior page. If you can imagine, if you buy 6,200 acres, you are not looking to put up one power plant, you are looking to put up multiple power plants. That is what we think this holds. It is a little bit longer dated, just given it is a startup. But the nice thing about this project is it brings to bear everything I talked about on that first slide. Midstream, upstream power, and potentially CCUS. Two big projects, significant momentum. The question I always get, I will figure out this slide control by the time we leave the stage, is let me see. We are in a little bit different. Keep going with the CapEx allocation. Let me talk to the CapEx allocation. Two more seconds. There you go. Got a little slide mix-up this morning. So CapEx allocation. How do we pay for all this, right? Is the question we get. When we think about allocating capital, the first dollar goes to the upstream business. That is the heart of the business. It is the core of what BKV is. You will see in 2026, we are targeting somewhere between $290 million- $400 million as the official public guidance we have given. That will allow us 3%-4% upstream growth. That generates strong free cash flow. That, combined with the Temple plants, the Temple plants today, maybe $5 million a year in CapEx, so significant free cash flow to run that business. You will see that third bar chart, $400 million- $475 million, is what we plan on spending in 2026 for the power business. That is a lot of long lead time items. It preserves our speed advantage we have with having assets up and running. The question I always get is you look at that $690 million- $875 million and say: How are you going to pay for all this, right? What is the funding strategy? Let me just walk through that to clear the decks on that. We enter the year with a couple of hundred million on the balance sheet of cash flow. We have significant free cash flow, call it $450 million of EBITDA after expenses, after interest. To fund that, you combine that with an equity raise we did. We have a partner contribution at the bottom you'll see, particularly CCUS and even the power, we have a 25% partner. That brings in another $130 million. I'll do the easy math for you, in sources, we're generating about $950 million this year. So significant free cash flow to pay for all this. The longer-term strategy and what this does, and we have $840 million of liquidity at the end of the second quarter. We hope to exit the year with roughly about the same amount, plus or minus. What this allows us to do is develop these projects, and once we sign the PPA, we would move more to a project finance structure, a 70/30, call it, debt to equity. But the liquidity and the cash flows we generate from our business allows us to get this up and running, and then ultimately project finance, rethink those projects, and then continue with development in the years ahead. Where am I headed now? Let me jump to this slide. What is BKV? At the heart, as I mentioned, we were built upon the upstream business. Started as a non-op in the Marcellus. We now have operated positions in the Marcellus. But the heart of the company is the Barnett. If you look at our strategy here, it was a roll-up strategy. You go back to Devon on the lower left. We bought that. If you look at the dates, that was announced in December of 2019, just in time for COVID. Managed to get that closed in December of 2020. But we bought legacy assets of the Barnett for less than $1,000 M on a flowing basis. You look at Exxon, did that two years later. Again, $1,600 M on a flowing basis. I doubt that we'll ever be able to acquire assets. Never say never. It would be a pretty bad cycle if we were to acquire assets at that cheap again. But to be able to acquire two legacy positions, and I think most people know Exxon was the old XTO Energy assets in the Barnett. For those of you in the room that have a little more gray hair, we actually have the original Mitchell well on that Devon acreage that we own. I have a little plaque or a little sign standing out there. But we followed that up with Bedrock Energy Partners just last year, another small accretive bolt-on. We are the natural consolidator in the basin. Grows today, 1.1 BCF a day. And you'll see our position there on the right-hand side, very contiguous, massive position, and the dominant player in the basin. What have we done with the Barnett, right? The results have been, frankly, just exceptional. And if Eric Jacobsen, our Chief Operating Officer, was up here, he'd talk about how he's rejuvenating the Barnett, and it's anything from but what people think about it. Let me start in the upper left, and if you've looked at our results as a public company over the last seven, eight quarters, you'll see that we consistently either beat, sometimes beat, but at very worst, meet guidance, and it's usually at higher production with lower capital. The question is, how do you do that? How do you continue to keep eking out these gains quarter after quarter? Let me just walk through some of the operational. I'll start on the upper left. Recently added another advanced completion technique we've tweaked as the engineers continue to do. Type curves are up 20%, and we're seeing that consistently, and we're seeing that across the field. Step one, better performance from the wells. You go on the right-hand side, DC&F. That includes facilities. All in drilling costs, rope, soap, and dope, as they used to say, all in $525 a lateral ft. That is among the best of any of the U.S., frankly, the best of any of the major U.S. shale basins. You do see that advanced completion, an increase of $27 per lateral ft, 5% increase. But when you get 20% uplift in the type curves, I think everybody agrees that those are really good economics and continues to improve the capital efficiency and lower the cost. On the lower right-hand side, what we call POW internally, positive offset wells. Something unique to the Barnett, you hear about a lot of parent-child issues and when you're drilling infill wells in other basins. In the Barnett, we actually see an uplift. You'll drill the child, you'll drill the infill well, and you actually see an uplift. Somewhat of that's due to unique geology in the Barnett, but it's also due just to unstimulated rock that's been there for years. Then finally, in the lower left, just speaking to what the team has done. In the last five consecutive quarters, we've drilled the five best Barnett wells of all time. When you start to see what this does quarter over quarter, you continue to lower costs, you continue to improve capital efficiency. Now, let me talk about inventory in the next slide. That leads to lower costs, lower break-even. You see this chart, you see the bullet point in the upper right, 300 locations with an average break-even of $2.67. That's very competitive. If you've been tracking this for any length of time, you'll see in these what you saw from the power slide, these costs continue to go lower and lower. Something we did announce in the second quarter, a week and a half ago, that is new, is a successful test of the upper Barnett. All our attention to date has been focused on the lower Barnett. We drilled our first upper Barnett well, came in 2x our type curve. We were able to de-risk a number of locations. We lowered the break even, you'll see, from $3.75- $3.25 just in the upper Barnett. If you think about eventual development, if you think about this as our first well, that cost will go lower, that $3.25 number. Longer term, we're going to drill another well in the first half of next year. Longer term, we'll start thinking about a combined kind of a blended lower and upper Barnett development strategy going forward. Very significant process, very significant progress. Bottom line is today, 540 locations, 15 years. I have yet to talk about refracs, and with seven minutes left, I won't, just given the time constraints. The refrac's very economic, and also at the heart of what we've done in the Barnett. So great success there. Continue to drive efficiencies. Let me flip to the power slide. Just to deep dive a little more on these assets. If you think about in the upper right, Temple, Texas, you'll see these assets sit side by side. They share facilities, so literally side by side in Temple. So where is Temple? Think about going through Waco, about 30 mi from Waco, about 60 mi from Austin. It also happens to be, as we put in the last bullet point on this page, 175-mi radius from the five most populous cities in Texas. When you think about ERCOT demand, when you think about Texas power demand, this is in a triangle, a very attractive triangle. In addition, Temple itself has a lot of fiber optics. There's a fiber optic highway, as we like to call it, that goes right through the middle of town. It's near our gas infrastructure, given our position in the Barnett. So a lot of advantageous aspects of the Temple plants. You'll see these were built in 2014, 2015 as the completion date. If you look at the heat rate, there are six plants in all of Texas that have a heat rate sub 7,000. We own two of those plants. So efficient, very attractive plants. As I mentioned earlier, you see those 750 on the lower right-hand corner of the plant size. We're going to take 750 as our phase II, contract that, add 2 modular- 400 modular, and then finally build a third would be the plan. Assuming commercial developments progress as expected, build a third plant on this site. If you've ever been to Temple, you'll see it's pretty flat, and that's pretty attractive when you're building a power plant and attractive for data centers. So there is excess land. It was originally designed for three plants. Only two got built. So, that's the progress at Temple. Do we have. Let me talk about our other legacy project that I talked about, our marquee project, is this asset, 6,200 acres in Jack County. This is something we just recently talked about. This is 30 mi from existing infrastructure. There's a 345 kV transmission line on-site. Again, we can bring to bear our entire closed-loop strategy. Assuming commercial developments progress as planned, this would end up being a multi-site plant. Our vision of this, if you will, is we're going to take the Temple template, no pun intended, but take that template and replicate it elsewhere in Texas. That's what you're seeing here. This is our first step out, if you will. We have other in the pipeline, but as we continue to develop, we'll rubber-stamp this process and project, if you will. So very attractive. As you see, their application loads have been submitted. That's all public information. You can see that on file if you care to look it up. But just a very attractive asset for it, and will help drive our power growth going forward. Let's see. We're going back to four and five. No, keep going. Oh, four and five forward. Move on. The other four and five. Apologies. Let me find that. There you go. Let me close with our CCUS. Then I will wrap up. CCUS. As I mentioned, three projects up and running. Barnett Zero came on in November of 2023. That was one of the first projects in the U.S. to come online. We believe the first, but one of the first. Two more projects came online in the second quarter, up on budget, on time. We now have three projects up and running. Of note, that third party commercialization you see in that box on the right, that was with an outside party, a very large midstream producer in Texas. It is going to be a platform partnership for us, so we have a lot more of these behind the pipe. But today, 300,000 of injection capacity, 300,000 tons per annum. Our target is 1.5 million tons as an injection run rate by the end of 2028. Beyond that, we have a number of Class VI-type projects. Our marquee project in the Class VI space is something called High West. It is a reservoir storage capacity in Louisiana. We recently drilled a test well there. But frankly, the geology came back better than we expected. This is a massive storage capacity, up to 10 million tons per annum, where we are located in Louisiana, within, call it 30 miles of over 30 million tons per annum of CO₂ storage. So big asset potential there. We expect to have permits filed or approved in 2027. Hope to have a MIT agreement in 2027, and then startup would be targeted for 2029, 2030. The takeaway here is our CCUS. We remain very committed to the business. It is something you will see about BKV. We have a little bit of a contrarian nature about us, right? We bought power plants when they were not cool. We bought the Barnett when nobody wanted it. We are in CCUS today, and we think this is going to be a very profitable venture for the company as well with the closed-loop strategy. Let me just wrap up here with this slide, and what BKV is. Again, I am going to bring it full circle. The closed-loop strategy, right? We are able today to sit across the table from. And one of the few companies I would point to. I challenge anybody to bring more than three or four companies that are doing this. I think you would be hard-pressed to find four. But today, you can come to a table, sit down with an AI, a data center, a large industrial customer, and say, "Hey, we can offer you a one-stop shop here. If you want gas, we have that. If you want power, we have that. If you want to decarbonize it, we can do that for you. And we can do that all in-house. We have the staff. We have the expertise. We have the ability. We move fast. We are flexible. And unlike a lot of projects out there, we have power up and running today that will provide that bridge till we get to the new build." So it is a very unique strategy that is provided by the closed loop, and we think ultimately this will add significant value for shareholders. And we are very excited about the future for BKV. We are proud to be part of a community here in Denver that frankly continues to shrink. We are happy with the other public companies in town to carry the Denver flag and to represent EnerCom. With that, we are in Lawrence Room A for breakout. Thank you, everybody.