Financial Performance & Outlook - Aris achieved full year 2024 Adjusted EBITDA of $212 million, exceeding initial guidance by 12%[14] - The company generated $73 million in Free Cash Flow in 2024, surpassing initial guidance by approximately 32%[14] - Aris anticipates 2025 Adjusted EBITDA to be in the range of $215 million to $235 million[20] - The company projects Free Cash Flow for 2025 to be between $75 million and $95 million[20] - Aris expects Adjusted Operating Margin per Barrel for 2025 to be between $043 and $045[20] Operational Highlights - Produced water volumes for full year 2024 reached 1,120 kbwpd, exceeding initial guidance by approximately 7%[14] - Aris purchased the McNeill Ranch for $45 million, excluding ~$11 million of transaction related expenses, adding approximately 45,000 surface acres[9, 10] - The company's water infrastructure includes approximately 790 miles of pipeline and approximately 625,000 dedicated acres as of December 31, 2024[13] Capital Allocation & Shareholder Returns - Aris has increased its quarterly dividend to $014 per share, a 33% increase[37] - The company's available liquidity as of December 31, 2024, was approximately $332 million, including approximately $303 million undrawn from the revolving credit facility[36]

Core Viewpoint - California Water Service Group reported strong operational and financial performance for 2024, highlighting significant revenue growth and capital investments aimed at enhancing water supply sustainability [3][6]. Financial Results - Q4 2024 operating revenue reached $222.2 million, up from $214.5 million in Q4 2023, marking an increase of $7.7 million [7]. - Full year 2024 operating revenue was $1.037 billion, compared to $794.6 million in 2023, reflecting a $242.4 million increase [6][26]. - Diluted earnings per share for 2024 were $3.25, a significant rise from $0.91 in 2023 [6][26]. - Net income attributable to the Group for Q4 2024 was $19.7 million, down from $30.1 million in Q4 2023 [7]. - Full year net income attributable to the Group was $190.8 million, compared to $51.9 million in 2023 [6][26]. Capital Investment - The company achieved a record capital investment of $471.0 million in water system infrastructure for 2024, a 23% increase from the previous year [6][10]. - The California Public Utilities Commission (CPUC) authorized Cal Water to issue up to $1.3 billion in new debt and equity securities [9]. Regulatory Activity - The 2024 General Rate Case (GRC) was filed, proposing over $1.6 billion in investments from 2025-2027 to enhance water supply reliability and sustainability [11][13]. - Proposed rate adjustments include an increase of $140.6 million (17.1%) in 2026, $74.2 million (7.7%) in 2027, and $83.6 million (8.1%) in 2028 [11]. Emergency Response and Preparedness - The company maintained emergency response leadership throughout 2024, conducting training and drills to prepare for potential emergencies [17]. - Investments of nearly $55 million over the past five years have been made to mitigate wildfire risks through infrastructure upgrades and strategic management [19].