Antero Midstream Corporation

Greetings, and welcome to the Antero Midstream Corporation second quarter 2026 earnings conference call. At this time, all participants are in listen-only mode. A question and answer session will follow the formal presentation. You will be placed into question queue at any time by pressing star one on your telephone keypad. As a reminder, this conference is being recorded. If anyone should require operator assistance, please press star zero. It's now my pleasure to turn the call over to Dan Katzenberg, Vice President, Investor Relations. Please go ahead.

Dan Katzenberg Thank you for joining us for Intero Midstream's second quarter investor conference call. We will spend a few minutes going through the financial and operating highlights, and then we will open it up for Q&A. I would also like to direct you to the homepage of our website at interomidstream.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 the 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 Krueger, CFO of Antero Resources.

With that, I will turn the call over to Mike. Thanks, Dan. Good morning, everyone. I'll start my comments in slide number three. Last year has been an exciting year for growth in Appalachia and, more importantly, in Tero Midstream. During the second quarter, we gathered over 4.1 BCF per day of gas, which was almost a 20% increase year over year. This growth was driven by the successful integration of the HG midstream assets. This increased scale, premier footprint, and strong balance sheet positions in Tero Midstream to capture the abundant opportunities that are beginning to materialize in the region. To this point, we've seen an acceleration of new gas-fired power generation project announcements and supply deals, including a two-gigawatt combined cycle power plant in Doddridge County, West Virginia, accessed by AM's joint venture pipeline. We expect this trend to continue as final investment decisions and construction startups accelerate, providing increased visibility into the Appalachian demand growth stories. Looking ahead, we are positioning our infrastructure to support this significant demand growth over the next several years. This starts with beginning construction on our first intrastate regional pipeline called Eastside Express. This large diameter east-west pipeline will enhance the regional connectivity of our dry gas gathering system with several downstream market outlets. We plan to phase in this project over the next several years as new market opportunities arise with the objective of increasing optionality and supporting low-cost dry gas growth. As the industrial builder in the state of West Virginia that gathers half of the gas produced in the state, we view this project as step one in positioning entero midstream to capture the incremental production needed to fulfill the visible demand growth. In our view, this production growth will have to come from high-quality, investment-grade producers with multi-decade inventories like Entero Resources. In addition to this project, the opportunity set up ahead of Entero Midstream is larger than ever. In aggregate, we are evaluating several billion dollars of infrastructure opportunities within the region and will be selective with projects that are near-term, actionable, and accretive to our free cash flow and generate attractive rates of return. Before turning the call over to Justin, I wanted to briefly touch on the early results we are seeing on our first return to the dry gas Marcellus in over a decade. As you can see on slide number four, EURs on our revisit were over 60% higher than offset wells completed the last time we were actively developing the area. This highlights the productivity improvements from enhanced completion designs and Validates the Decades of Underlying Resource that Underpins the Growth Outlook at Entero Midstream. With that, I'll turn the call over to Justin.