CorEnergy Infrastructure Trust, Inc.

Hello, and welcome to Core Energy's conference call to discuss the second quarter 2022 results. At this time, all participants are in a listen-only mode, and the floor will be open for questions and comments after the presentation. I would now like to turn the call over to Matt Kreps, Investor Relations for Core Energy. Please go ahead.

Thank you, Holly, and thank you, everyone, for joining today's Core Energy Infrastructure Trust conference call. With me today are Dave Schulte, CEO, John Greer, Chief Operating Officer, and Robert Waldron, CFO. Earlier this morning, we published a press release announcing the second quarter results for 2022. We expect to file our form 10-Q this afternoon. I'd like to remind everyone that the statements made during the course of this presentation, they are not purely historical, may be forward-looking statements, and are subject to the Safe Harbor Protection, available under the applicable securities law. 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 also 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 figures, and those non-GAAP metrics with the related reconciliations. With that, I would like to now turn the call over to Dave Shulkin. Please go ahead.

Good morning, everyone. I'll spend a couple of minutes updating our operations, then John Greer will discuss Crimson's recent results, and then we'll turn the call over to Robert for financial comments and outlook. The second quarter saw continued steady performance from our predictable Missouri natural gas operations, but also a reduction in volume in our California crude oil operations as a result of disruptions in the global oil supply chain. However, in July, a third-party operational issue reversed our drop in volumes, a benefit which is expected to persist throughout Q3. We believe we have a plan to offset the potential for lower volumes for the next several quarters through a combination of cost efficiency and pricing increases on our California pipelines. Our company's story remains relatively simple. We own and operate regulated oil and gas transportation and storage assets under revenue structures that help to mitigate risk. We have a longer-term opportunity to repurpose assets into lower carbon services in California and add assets to expand and diversify our tax-efficient platform. We believe that our REIT status is a business model advantage as it lowers cost in a maturing industry. Just taking a moment to recap our key assets and opportunities we see in them. With our natural gas business, MoGas and Omega Pipelines, we support residential, commercial, and industrial demand under long-term take or pay capacity contracts. Demand for natural gas is growing in the areas we serve as demonstrated by our need to recently install new facilities to accommodate shipper demand. There could be incremental organic projects within our footprint to support further expansion of our systems. We are also engaged with the U.S. Department of Defense at Fort Leonard Wood, Missouri, to provide scoping for the Utility Energy Services Contract, or USEC, which we were awarded several years ago and which could add revenue for us. With Crimson, we gather and transmit crude oil to refineries in California. These assets also provide service under fixed fees for volumes transported with long-term investment-grade customers. We have a track record of excellence in safely managing our network, ensuring reliability of supply for our customers. We're managing challenges in the market and do see a number of opportunities to extend the life of our critical transportation assets. Now I'll turn the call over to John Greer, the founder of Crimson Midstream, to elaborate further.