Antero Midstream Corporation

Greetings and welcome to the Antero Midstream Corporation First Quarter 2026 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow a formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce Dan Katzenberg, Vice President of Investor Relations. Thank you. You may begin.

Thank you for joining us for Antero Midstream's first quarter investor conference call. We'll spend a few minutes going through the financial and operating highlights, and then we'll open it up for Q&A. I would also like to direct you to the homepage of our website at anteromidstream.com, where we have provided a separate earnings call presentation that will be reviewed during today's call. Today's call may contain certain non-GAAP financial measures. Please refer to our earnings press release for important disclosures regarding such measures. Joining me on the call today are Michael Kennedy, CEO and President of Antero Midstream, Justin Agnew, CFO of Antero Midstream, and Brendan Kruger, CFO of Antero Resources. With that, I'll turn the call over to Mike.

Thanks, Dan. Good morning, everyone. I'll start my comments in slide number three. The first quarter of 2026 was an exciting quarter for Intero Midstream as we continue to make progress on our strategic initiatives. We successfully navigated adverse winter weather conditions and delivered another quarter of EBITDA and free cash flow growth. In addition, we closed the company's largest acquisition to date in February, which was ahead of our initial expectations. These achievements highlight two of Intero Midstream's greatest strengths. a world-class asset base and the lowest cost base in North America, and hard work and dedication from our team. As we look ahead, recent geopolitical events and data center announcements highlight the significant demand growth for U.S. energy both domestic and abroad. Given this outlook, we are focused on enhancing connectivity within our operating areas, particularly in the dry gas area and the newly acquired assets. and providing cost-effective integrated solutions for this demand growth. Our balance sheet, scale, and integrated planning with our investment-grade producer position us well to capitalize on these growth opportunities. Now let's move on to slide number four, highlight some of our 2026 growth projects. At the end of the first quarter, we commissioned our dry gas compression expansion depicted on the right-hand side of the page. This station utilized relocated and repurposed units toward our first dry gas Marcellus pad in over a decade. During the first quarter, we also commenced our initial water system integration efforts. This capital investment to connect Intero Midstream's water system to the acquired water system is on track to be completed by year end and will allow AM to begin servicing completions on the acquired assets in 2027. Today, there are currently three rigs running on AM dedicated acreage, one on the rich gas system, one in the dry gas system, and one on the acquired blended system. This balanced and consistent development program delivers low-cost volume growth and is expected to drive high single-digit EBITDA growth for the foreseeable future. In summary, we're off to a great start in 2026, executing our capital-efficient growth plans. Beyond our base business, we continue to be active in opportunities to further extend and enhance that growth outlook to support the increasing demand for natural gas. With that, I'll turn the call over to Justin.