Black Stone Minerals LP (BSM) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.515 At this time, I would like to welcome everyone to Blackstone Minerals' third quarter 00:00:04.515 -- 00:00:09.400 2025 earnings conference call. All lines have been placed on mute to prevent any background 00:00:09.400 -- 00:00:14.204 noise. After the speaker remarks, there will be a question and answer session. 00:00:14.204 -- 00:00:18.628 If you would like to ask a question during this time, simply press star, followed by 00:00:18.628 -- 00:00:23.433 the number one on your telephone keypad. If you would like to withdraw your question, 00:00:23.433 -- 00:00:28.634 press star one again. Thank you. I will now turn the call over to Mark Moe, 00:00:28.634 -- 00:00:31.879 Director of Finance, you may now begin, sir. 00:00:31.879 -- 00:00:36.046 Thank you. Good morning to everyone. Thank you for joining us either by phone or online 00:00:36.046 -- 00:00:40.192 for Blackstone Minerals' third quarter 2025 earnings conference call. 00:00:40.192 -- 00:00:44.319 Today's call is being recorded and will be available on our website along with the earnings 00:00:44.319 -- 00:00:48.846 release, which was issued last night. Before we start, I'd like to advise you that we 00:00:48.846 -- 00:00:53.093 will be making forward-looking statements during this call about our plans, expectations, 00:00:53.093 -- 00:00:55.938 and assumptions regarding our future performance. 00:00:55.938 -- 00:01:00.203 These statements involve risks that may cause our actual results to differ materially 00:01:00.203 -- 00:01:04.068 from the results expressed or implied in our forward-looking statements. 00:01:04.068 -- 00:01:08.953 For a discussion of these risks, you should refer to the cautionary information about 00:01:08.953 -- 00:01:13.298 forward-looking statements i...