Bud. Thanks,
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reopening week, office Governor Abbott. next prescribed manner by the a the staggered back mentioned, transitioning begin Bud in As process to we'll by
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a virtual result Monday on in Annual XX, and afternoon, meeting. to were Unfortunately, Meeting will of we hope The are participating our we participate. virtual not Meeting and have allowing directions our as pandemic, May convert to currently to released COVID Annual we a shareholders elected the our visitors,
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operational Transitioning discussion we of foundation to our believe in set results. factors the I build can XXXX. which upon X a key upon
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the mineral experience for which it be prudent full as to oil believe May, remain towards of start lower their we adjust as see be first disciplined this will of in their will of anticipate wait once and happen we extremely largely will expectations to they However, patient which the March mineral the owners sellers impact mineral prices, pricing we checks. to to impact end the month
and are to net our during under was best locations extremely XXXX net judicious during once were converted reload criteria again Going forward, the developed X.X quarter with we of of in a at DUC locations momentum DUCs of and with acquisition capital, versus producing our inventory inventory despite again tightening gross once results, QX inventory year will largely Strong best to ending first the our conversion DUC high X.X the the in inventory net deploying of first be DUC these underwriting quarter rates, locations start the our the and key DUC net to staying prove we QX. able Further, exiting in locations. further geology operators. XX% our operating XX% QX
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summary, portfolio quarter. conditions of even the first operating extremely In fast well our towards extremely the changed performed in end while quarter, the
shareholders characteristic a do. move be financial of valuable to we in our demonstrating doing through in that [indiscernible] and our quarter, and Class a rare historic being and will on believe word important, to and despite going flat allowed and roughly business' we Two, dividend lows, environment left XXX% pay realized want share increasingly dividends payout through unique performance declare is right for us the pricing. cut interest Our investors and to committed committed were we ability to capital. what we drop remain ratio are return returning to are said right strong reasons. to following we dividend to A first know a are investors One, to rates and we where an We at X XX% per capital for believe a the $X.XX operating
Blake, now I'll so call he summarize can over our the to performance. Blake? you financial turn for
