Delek Logistics Partners LP

Thank you for standing by. My name is JL and I will be a conference operator today. At this time, I would like to welcome everyone to the DKL's third quarter earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, simply press star one again. We now turn the conference over to Robert Wright, Deputy Chief Financial Officer. You may begin.

Good morning, and welcome to the Dellick Logistics Partners Third Quarter Earnings Conference Call. Participants joining me on today's call will include Abigail Sorek, President, Joseph Israel, EVP Operations, Reuven Spiegel, EVP and Chief Financial Officer, and Odele Sakazi, SVP, Dellick Logistics. As a reminder, this conference call will contain forward-looking statements as defined under the federal securities laws, including statements regarding guidance and future business outlook. Any forward-looking statements made during today's call involve risks and uncertainties that may cause actual results to differ materially from today's comments. Factors that could cause actual results to differ are included in our SEC filings. The company assumes no obligation to update any forward-looking statements. I will now turn the call over to Abigail for opening remarks. Abigail?

Thank you, Robert. Delic Logistics Partners had another record quarter. We reported approximately $107 million in quarterly adjusted EBITDA. We are pleased with DELEC Logistics' continued strong performance. DKL is a premier full-service crude, natural gas, and water provider in the prolific Permian Basin, and our recent actions have significantly enhanced our position. In Q3 of 2024, we closed several important transactions. First, on August 5th, we amend and extend contracts between DKL and DK for a period of seven years. Second, we completed the acquisition of DELEX portion in Wink to Webster pipeline. W2W is a premier crude oil pipeline backed by investment-grade counterparties. It increases the overall asset quality at DKL and enhance DKL permanent position. Third, on September 11, we closed the acquisition of H2O Midstream. We're excited about our combined offering in the Midland Basin. While it's still early, This combination is already more attractive option for our customers and is presenting several cross-sell opportunities. In the Delaware Basin, we are also making good progress on our processing plant expansion and still expect to complete the expansion on time and on budget in the first half of 2025. As discussed previously, the plant is highly subscribed and we are making progress on completion. We are already seeing additional opportunities around solar gas treatment. On October 29, the Board of Directors approved an increase in the quarterly distribution to $1.10 per unit. We are very excited about the prospects of DELEC Logistics. DKL is seeing several organic and inorganic growth opportunities, and we are taking a prudent approach to growth. DKL has shown a strong track record of delivering value to unit holders. We expect to continue on our value creation path moving forward, and we will continue to grow our distribution in the future. I will now hand it over to Ruben.