CorEnergy Infrastructure Trust, Inc.

Hello and welcome to Core Energy's conference call to discuss the first quarter 2022 results. I would now like to turn the call over to Matt Kreps, Investor Relations for Core Energy. Please go ahead.

Thank you everyone for joining today's Core Energy Infrastructure Trust conference call. With me today are Dave Schulte, CEO, John Greer, COO, and Robert Waldron, CFO. Earlier this morning we published a press release announcing the first quarter results for 2022. We expect to file our Form 10-Q this afternoon. You can also access a webcast replay of this call on the investor section of the company website at coreenergy.reit. Typically, this is available within a couple hours of a live call's end. I would like to remind everyone that the statements made during the course of this presentation that are not purely historical may be forward-looking statements and are subject to the safe harbor of protection available under the applicable securities laws. Important factors that could cause actual results to differ materially from those in the forward-looking statements are discussed in our filings with the SEC. These documents are available on the investor relations section of our website. We do not update our forward-looking statements. During this call, we will make reference to certain forward-looking non-GAAP metrics which will be reconciled in subsequent filings as part of our results reporting. We encourage all of you to review our complete disclosures, risk factors, GAAP financial numbers, and those non-GAAP metrics with the related reconciliations. And with that, I would like to now turn the call over to Dave Schulte. Please go ahead.

Good morning, everyone. After I discuss our current operations, John Greer will discuss Core Energy's strategic position in the lower carbon economy, and then turn the call over to Robert for a financial commentary. Our company's story is relatively simple. With regulated oil and gas revenue structures, mitigating volume risk, and a longer-term opportunity to repurpose assets into lower carbon service in California. With MoGas, we have a very stable natural gas transmission and distribution asset in the central United States. These assets operate under long-term contracts with take or pay characteristics, supporting growing residential, commercial, and industrial markets. Natural gas is expected to continue to be used by our shippers for basic utility needs for a very long time. With Crimson, we have a crude oil gathering and transmission asset in California. These assets also provide service under fixed fees for volumes transported with long-term investment grade customers. We have successfully integrated various pipelines and as necessary in any mature industry, we believe we are in the best position to manage network cost and reliability for the benefit of our customers. However, since our assets primarily generate revenue based on a cost of service model, we can and will continue to mitigate the impact of any longer term volume declines with periodic tariff rate increases to the extent necessary. We are reviewing our tariff structure in preparation for our next filing to potentially also reduce quarterly revenue fluctuations. Over the medium term, California Transportation System that we own will benefit from Phillips 66 plans to convert the Rodea Refinery to renewable diesel production and no longer process crude oil by 2024. Those crude volumes are expected to continue to be produced in the state, but will need a path to different refineries, such as the Crimson Pipelines and among other possible routes. I'll now turn the call over to John Greer, our Chief Operating Officer and the founder of Crimson Midstream, to discuss our position in a lower carbon future. John?