Solid Production Increase
Production increased organically by approximately 1% over Q2, exceeding the midpoint of 2025 guidance. Average production for the first 9 months of 2025 was 25,574 BOE per day.
Strong Financial Performance
Oil, natural gas, and NGL revenues totaled $76.8 million during Q3. Total consolidated adjusted EBITDA was $62.3 million.
Distribution and Return of Capital
Declared a Q3 2025 distribution of $0.35 per common unit, with approximately 100% expected to be a return of capital, enhancing after-tax return.
Conservative Balance Sheet
Net debt to trailing 12 months consolidated adjusted EBITDA was approximately 1.6x, with $176.5 million in undrawn capacity under the credit facility.
Stable Rig Activity
Active rig count remains strong with 86 rigs drilling across acreage, representing a market share of U.S. land rigs at 16%.