Brigham Minerals, Inc. (MNRL) Q1 2022 Results Conference Call May 5, 2022 10:00 AM ET

Company Participants

Jacob Sexton - Investor Relations

Bud Brigham - Founder and Executive Chairman

Rob Roosa - Founder and Chief Executive Officer

Blake Williams - Chief Financial Officer

Conference Call Participants

Chris Baker - Credit Suisse

Kyle May - Capital One

Nate Pendleton - Stifel

Grant Adkins - Raymond James

Operator

Good morning and thank you for attending today's Brigham Minerals First Quarter 2022 Earnings Conference Call. My name's Sam and I'll be the moderator for today's call. All lines will be muted during the presentation portion of the cal with an opportunity for questions and answers at the end. [Operator Instructions]

At this time, I'd like to turn the call over to our host Jacob Sexton, Investor Relations. Jacob, please proceed.

Jacob Sexton

Thank you, operator, and good morning, everyone. Welcome to the Brigham Minerals First Quarter 2022 Earnings Conference Call. Joining us today are Bud Brigham, Founder and Executive Chairman; Rob Roosa, Founder and Chief Executive Officer; and Blake Williams, Chief Financial Officer.

Before we begin, I would like to remind you that our remarks, including the answers to your questions, contain forward-looking statements. We refer you to our earnings release for a detailed discussion of these forward-looking statements and the associated risk. In addition, during this call, we make references to certain non-GAAP financial measures. Reconciliations to applicable gap measures can also be found in our earnings release. We have a new investor presentation titled First Quarter 2022 Investor Presentation available for download on our website, www.brighamminerals.com. We recommend downloading the presentation in the event we refer to it during the conference call. Lastly, as a reminder, today's call is being webcast and is accessible to the audio link on our IR website.

I would now like to turn the call over to Bud Brigham, founder and executive chairman.

Bud Brigham

Thank you, Jacob. And thanks to everyone for joining us on our first quarter, 2022 earnings conference call. On both our year-end 2020 and 2021 conference calls, I indicated that companies that are optimally positioned are going to generate substantial returns for shareholders in the current energy supercycle. More Specifically, I stated that Brigham minerals was uniquely positioned to succeed this year, given both our activity [well] inventory and high-quality undeveloped inventory. Our quarterly results reflect that outperformance, our team generated record production revenues, EBITDA dividends, and drilling activity. The exceptional performance was driven by our incredibly strong [indiscernible] conversions, which were almost entirely backfilled by our record drilling activity during the quarter. I believe our high-quality activity well inventory will continue to generate outperformance as we look to the remainder of 2022 and into 2023.