Operator

Good morning. My name is John, and I will be your conference operator today. At this time, I would like to welcome everyone to the Topaz Energy Corp. First Quarter 2026 Results Conference Call. [Operator Instructions] Thank you. Mr. Staples, you may begin your conference.

Marty Staples
President, CEO & Director

Thank you, John. Good morning, everyone, and welcome to our discussion of Topaz Energy Corp.'s results as at and for the period ended March 31, 2026. My name is Marty Staples, and I'm the President and CEO of Topaz. With me today is Cheree Stephenson, CFO and VP Finance.

Before we get started, I refer you to the advisories on forward-looking statements contained in the news release as well as the advisories contained in the Topaz annual information form and within our MD&A available on SEDAR and our website. I also draw your attention to the material factors and assumptions in those advisories. We will start this morning by speaking to some recent and first quarter 2026 highlights. After these opening remarks, we will open for questions.

Topaz had a strong first quarter marked by record royalty production on our acreage, and our Board has approved a 3% dividend increase to $0.35 per share or $1.40 per share annualized, marking our 10th quarterly dividend increase and a 75% dividend per share growth since inception.

Topaz's first quarter royalty production was 24,609 boe per day and increased 10% over the prior year. Q1 2026 royalty production included record natural gas