DT Midstream, Inc.

Good morning, my name is Chris and I'll be your conference operator today. At this time, I'd like to welcome everyone to the DT midstream Q1 2022 earnings conference 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'd like to ask a question during this time, simply press star, then the number one on your telephone keypad. To withdraw your question, please press star one again. Thank you. Todd Lorman, Director of Investor Relations. You may begin.

Good morning and welcome, everyone. Before we get started, I would like to remind you to read the safe harbor statement on page two of the presentation, including the reference to forward-looking statements. Our presentation also includes references to non-GAF financial measures. Please refer to the reconciliations to GAF contained in the appendix. Joining me this morning are David Slater, President and CEO, and Jeff Jewell, Executive Vice President and CFO. I'll now turn it over to David to start the call. Thank you, Todd, and good morning, everyone, and thanks for joining.

On today's call, I'll start by highlighting some of our key results this quarter, then discuss the constructive fundamentals that are playing out around our assets and our execution on previously announced projects. I'll pass it over to Jeff to review our first quarter financial results, and then I will close with some remarks on our future opportunities. So with that, we had a strong first quarter performance that puts us firmly on track for our plan for the year, and we are highly confident in our ability to achieve our 2022 guidance. Our commercial team was very busy advancing our investment plan. On our Appalachian Gathering system, we reached agreements with two existing customers that will result in an attractive incremental expansion with approximately $200 million a day of added system capacity, a significant term extension, and an expansion of dedicated acreage. On our Nexus pipeline, we executed a five-year contract for $100 million a day of capacity with an investment-grade shipper at attractive rates. We're also advancing our ESG focused initiatives, which are a priority for us. As Jeff will cover in more detail, we successfully locked in the interest rates and extended the term on a portion of our variable rate debt. So it's been a very busy and productive quarter moving the company forward. Turning to the fundamentals, the environment for natural gas continues to remain strong. The geopolitical situation with the Russia-Ukraine war has highlighted the importance of energy security, both domestically and abroad. The role for U.S. natural gas in the form of LNG will be critical in supporting Europe and ending Europe's dependency on Russian energy supplies. U.S. LNG can also displace coal globally as a fuel source for electric generation, which supports worldwide decarbonization efforts in a timely and cost efficient way. BTAM's assets are very well positioned to enable US LNG export growth, both out of Appalachia and the Hainesville. We currently have approximately two BCF a day of access to LNG export markets, which our shippers have under long-term contracts. Our LEAP pipeline flows gas to three export terminals on the Gulf Coast, and our Stonewall pipeline provides a critical pathway for Appalachian gas to the Cove Point terminal on the East Coast and to the pipelines that serve the Gulf Coast LNG corridor. The strong gas price environment is also benefiting many of our customers, and we expect it to continue to improve their cash flows and credit metrics, making these customers stronger, which will provide additional flexibility to grow production over time. We are seeing a response to the strong fundamentals in both of the basins where we operate, In the Haynesville, production is continuing at record levels and strong rig activity points to robust future growth. Projections are for 7 to 8 billion cubic feet a day of growth in both Haynesville supply and Louisiana Gulf Coast LNG demand between now and 2030. This is translating to very strong demand for pipeline capacity from the Haynesville to the Gulf Coast. The price environment is also sending a strong signal to drill in Appalachia. With takeaway capacity constraints in the basin, there is a high demand for any existing capacity or easily expanded capacity to get gas further downstream towards markets. I will touch a little bit more on the specific opportunities created by the fundamental environment later on the call. Before I pass it over to Jeff, I wanted to give an update on our previously announced expansion projects. which will begin entering service starting the second quarter of this year. It's further detailed on slide 14 of the presentation. Our team is highly focused on executing these projects and all major projects remain on track. We have ordered critical long lead equipment and continue to proactively manage supply chain situation. I'll now pass it over to Jeff to walk you through our quarterly financials and outlook.