Hello, and welcome to the Black Stone Minerals 2025 annual meeting of Limited Partners. Please note that this meeting is being recorded. Questions may be submitted via the message icon at the top left of your screen by typing your message, then clicking the send icon to the right of the message box. The meeting is about to begin. Good afternoon, ladies and gentlemen. It's now 12:00 P.M., and in accordance with the notice of the annual meeting, I call the Black Stone Minerals 2025 annual meeting of Limited Partners to order. I'm Tom Carter, Chief Executive Officer, President, and Chairman of the Board of Directors, and a candidate for election as Director. I will preside at today's meeting, and Steve Putman will act as Secretary of the meeting. On behalf of the Board of Directors, I welcome you to the annual meeting. I'd like to take a moment to introduce the members of our current Board of Directors and Executive Officers. The non-management directors in attendance today are Carin Barth, Marc DeWalch, Jerry Kyle, A.J. Longmaid, Will Mathis, Will Randall, and James Whitehead. The executive officers in attendance today are Fowler Carter, Carrie Clark, Taylor DeWalch, Chris Bonner, and Steve Putman. In addition, I would like to recognize Matt Burley, who is also in attendance as a representative of Deloitte, our current independent registered public accountant. I've appointed Steve to act as inspector of the election for the meeting. The inspector of the election has taken the oath of office, which I've directed to be filed with the partnership's records. You can access the agenda via the web portal, which we will start on sharing out the business of this meeting. As you will see on the agenda, time has been allotted later in the meeting for any questions or comments you may have concerning the matters to be vetted upon this afternoon. Please keep in mind that as the meeting is a virtual only format, you will be able to submit questions that we will answer at the appropriate time later in the meeting, as long as questions are relevant to the meeting. If any unit holder has any matter of individual concern, please raise it after the meeting. So that all the items on the agenda may be presented before that time, the voting matters contained in the agenda will be presented in succession without comment. After these matters have been presented, the polls will be opened, and questions germane to these matters may be asked up to a maximum of 30 minutes, after which time the polls will be closed. After presentation of the matters to be voted on, you may vote via the web portal. Of course, if you have already voted, you need not vote again at this meeting. If you have not voted, or if you would like to change your vote, you may do so by following the directions on the web portal. There are a few formalities to cover before we get into the business of the meeting. Will the Secretary please report on the record date, listing of unit holders, notice, quorum, and matters to be considered at today's annual meeting? April 14th, 2025, was set by a resolution of the Board of Directors as the record date for today's annual meeting. All unit holders of record or their proxy holders at the close of business on April 14th are entitled to vote at the annual meeting. If you would like to view the listing of unit holders as of the record date, please ask us questions saying so, and we will provide the list. Notice of the meeting was duly given in accordance with the partnership agreement. We received an affidavit from the partnership's transfer agent, [inaudible], certifying that the notice of internet availability of proxy materials was sent to all unit holders on or about April 30th, 2025. The affidavit will be filed with the partnership's records. As set forth in the agenda and notice of the annual meeting, the matters to be considered at today's annual meeting are the election of directors to the Board of Directors of the General Partner, each to serve until the 2026 annual meeting of limited partners, and thereafter until such director's successor shall have been duly elected and qualified, or until such director's earlier death, resignation, or removal. The ratification of the appointment of Deloitte as the partnership's independent registered public accounting firm for the fiscal year ending December 31st, 2025, the approval on a non-binding advisory basis of the compensation of the general partner's named executive officers for the fiscal year ended December 31st, 2024, and the approval of the 2025 LTIP. Each of the matters to be considered today is described in the proxy statement, which accompanies the notice of the annual meeting. The Secretary has advised that quorum is present. Legal notice has been given. This meeting is now convened and open for the transaction of business. As previously mentioned, the items of business being submitted to the unit holders for action at today's meeting are the election of directors, the ratification of the appointment of Deloitte, the say-on-pay vote, and the approval of our ELTA. We will now have the presentation for the proposals. The first item of business is the election of directors. The board nominees for election to serve until the 2026 annual meeting are Carin Barth, Tom Carter, Marc DeWalch, Jerry Kyle, Michael Linn, A.J. Longmaid, Will Mathis, Will Randall, Sandy Stewart, and James Whitehead. The second item of business is the ratification of the appointment of Deloitte as the partnership's independent registered public accounting firm for the fiscal year ending December 31, 2025. The third item of business is the approval on a non-binding advisory basis of the compensation of the general partner's named executive officers for the fiscal year ended December 31, 2024. The final item of business is the approval of the 2025 long-term incentive plan. There are no other proposals to come before this meeting since management has not made any other proposals, and no other proposals were submitted by the unit holders in the manner prescribed in the partnership agreement, which requires that certain information concerning unit holder proposals be provided to the partnership before the date of the meeting. It is now 12:05 P.M., and I now declare the polls open for voting. It's important that each unit holder be given an opportunity to cast his or her vote. Accordingly, the polls will remain open until such time as it does not appear any votes are being cast through the web portal up to a maximum of 30 minutes. If you have already voted, you need not vote again at this meeting. If you have not voted, or if you would like to change your vote, you may do so by following the directions on the web portal and submitting a question to the portal so that we can wait for you to finish voting. You may vote at this time. This concludes the matters to be considered and voted upon at today's meeting. It's now 12:07 P.M., and I have now declared the polls closed. The inspector of election will count the votes. Will the Secretary please announce preliminary voting results? Based on the preliminary tabulation of the votes, a plurality of the votes cast were in favor of each of the partnership's nominees for directors of the general partner. Each to serve until the 2026 annual meeting of limited partners, and thereafter until such director's successor shall have been duly elected and qualified, or until such director's earlier death, resignation, or removal. The majority of the votes cast were in favor of the ratification of the appointment of Deloitte as the partnership's independent registered public accounting firm for the fiscal year ending December 31st, 2025. A majority of the votes cast were in favor of the approval on a non-binding advisory basis of the compensation of the general partner's named executive officers for the fiscal year ended December 31, 2024. A majority of the votes cast were in favor of the approval of the 2025 long-term incentive plan. The final voting results will be tallied and subsequently announced in accordance with the requirements of the Securities and Exchange Commission. Following the conclusion of the business portion of the meeting, we will continue with a question-and-answer session. I'm aware of no other business that should be brought before this meeting. Accordingly, I declare the meeting adjourned. You will now be pleased to answer any questions or address any comments asked during the meeting about the partnership to the extent that they do not require us to disclose material non-public information. All right. We're hearing no questions. Therefore, thank you for all your comments and questions. This concludes the Black Stone Minerals L.P. 2025 annual meeting of Limited Partners. On behalf of Black Stone Minerals L.P. and the Board of Directors and the employees of Black Stone, I want to thank you for attending today's meeting.