Operator

Good morning, ladies and gentlemen, and welcome to Advantage Energy Limited Q1 2026 Results Conference Call. [Operator Instructions] Also note that this call is being recorded on Friday, May 1, 2026.

And I would like to turn the conference over to Brian Bagnell, Vice President. Please go ahead, sir.

Brian Bagnell
VP of Commodities & Capital Markets

Thank you, Sylvie, and welcome, everybody, to today's conference call to discuss Advantage's first quarter 2026 results. Before we begin, I'd like to remind listeners that our remarks today will include forward-looking information and references to specified financial measures. Advisories on these items are contained in our news release, MD&A and annual information form, which are available on our website and on SEDAR.

I'll also note that we posted an updated corporate presentation on our website. I'm here today with Mike Belenkie, President and CEO of Advantage; Craig Blackwood, our CFO; and the other members of our executive team. We'll start today by speaking to some of our financial and operational highlights. Once Mike has finished speaking, we'll pass it back to the operator for questions. And as usual, I'd like to ask that if you have any detailed modeling questions that you follow up with us individually after the call.

And with that, I'll turn the call over to Mike Belenkie.

Michael Belenkie
President, CEO & Director

Thank you, Brian, and thanks, everyone, for joining us today. It's my pleasure to discuss our results for the first quarter of 2026, and the year is off to a great start. Advantage generated adjusted funds flow of $121 million or $0.73 per share. It was a highly active quarter with