Operator

Good morning, and welcome to U.S. Energy Corp.'s First Quarter 2026 Earnings Conference Call. [Operator Instructions] Today's call is being recorded, and a replay will be available on the Investor Relations section of the company's website at usnrg.com.

Before we begin, I would like to remind everyone that today's discussion will include forward-looking statements within the meaning of the federal securities laws. These statements are based on management's current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to the company's most recent SEC filings included in the Form 10-Q filed today and the Form 10-K for a discussion of these risks. Statements made on this call speak only as of today, and the company undertakes no obligation to update them.

Joining us this morning are Ryan Smith, President and Chief Executive Officer; and Mark Zajac, Chief Financial Officer. I will now turn the call over to Mr. Ryan Smith.

Ryan Smith
President, CEO & Director

Thank you, Mason, and good morning, everyone. Thank you for joining U.S. Energy's First Quarter 2026 Earnings Call. I appreciate your time. And more importantly, I appreciate the engagement we've had with so many of you over the past few months as our story has come into clearer focus.

I want to start by framing what this quarter actually represents because the context matters for how investors should evaluate our reported results. The first quarter reflects a company in the middle of a deliberate transition. We've