Reported net income of $26.3 million for 2025, compared to $55.4 million in 2024. Total oil and gas revenue decreased 20.4% to $177.5 million in 2025 from $223 million in 2024. Proved reserves as of December 31, 2025, were 28,388 MBOE, consisting of 82.3% proved developed and 17.7% proved undeveloped reserves. Invested $96 million in 48 horizontal wells during 2025, primarily in the Midland Basin of West Texas. Maintained a strong liquidity position with no outstanding borrowings and $115 million in availability under the revolving credit facility as of April 15, 2026.