EnLink Midstream, LLC

statements and other disclosures made in our press release and our SEC filings, including those under the heading Risk Factors. We'll start today's call with a set of brief prepared remarks by Barry, Bob, Ben, and Pablo, and then leave the remainder of the call open for questions and answers. With that, I would now like to turn the call over to Barry Davis.

Thank you, Brian, and good morning, everyone. Thank you for joining us today to discuss our strong first quarter 2022 results, which included record quarterly adjusted EBITDA. The results of the first quarter are a great example of the step change in the momentum that we are seeing in our business. The progress we have made over the past several quarters is impressive, and the outlook for 2022 and beyond continues to strengthen. Our business is clearly benefiting from the supportive commodity price environment. However, the strong execution by our team has amplified the benefit from higher commodity prices. Our continued focus on executing the NLINC way, our disciplined and capital-wide approach, and deep customer relationships are what has enabled us to report this record quarter. A few items I want to specifically highlight as we begin today are, in the first quarter, NLINC achieved adjusted EBITDA of approximately $304 million. which marks an impressive 22% increase over the prior year. Our strong cash flow generating platform delivered an impressive $105 million of free cash flow after distributions. Importantly, these robust results were driven by strength across all of our segments, each of which is firing on all cylinders. Turning to the outlook for the rest of this year, last night we announced increased 2022 guidance, which implies 16% growth at the midpoint in adjusted EBITDA over 2021. The turnaround we are seeing in Oklahoma is perhaps the most impressive, where we now expect meaningful volume growth to return in 2023. I am equally impressed by the execution of our carbon solutions group since its formation less than a year ago. Last night, we announced our first customer, Oxy Low Carbon Ventures, with the execution of a letter of intent to enter into a transportation services agreement, which enables Enlink to serve as the provider of CO2 transportation services for Oxy along the Mississippi River corridor from Wagamon to Baton Rouge. In addition, a little over a month ago, we made a big addition to the leadership of our carbon solutions group when Bob Ferguson joined us. As we thought about the size of the opportunity and the work needed to fulfill its potential, we saw the need for an executive-level leader who could bring strategic vision and deep experience building new businesses. Bob is not entirely new to the NLINC team as he served as COO of our predecessor, Crosstex, and was critical to our success in building and setting the stage for where the Louisiana segment is today. So having worked closely with Bob, I am confident in his extensive industry knowledge, deep connections within the market, and business development experience, combined with his innate leadership abilities, which will be extremely complimentary to our team. And lastly, with respect to our own ESG efforts, we recently issued our fourth sustainability report. As we have said before, sustainability is part of our DNA, and I'm proud to report significant progress. Through the first quarter of 2022, we have accomplished approximately 40% of our goal to reduce methane emissions intensity by 30% by 2024. Before I turn the call over to Bob to hear more about our growing CCS business, I'd like to take a minute to thank our team for their relentless efforts as we advance our vision of becoming the future of midstream by leading in innovation and creating sustainable value for our stakeholders.

Bob? Well, thanks, Barry, and good morning, everyone. First, I want to say how great it is to be back at InLink. It's been a real pleasure reconnecting with my colleagues, especially in Louisiana, and working with this exciting team. You know, our carbon solutions team has been busy with both existing and potential industrial customers along the Mississippi River corridor, all of whom are looking to improve their CO2 emissions profiles through CCS. I'm pleased to discuss with you our first commercial success with the signing of Oxy Low Carbon Ventures. Last night, we announced the execution of an LOI to enter into a transportation services agreement which would enable Enlink to serve as the provider of CO2 transportation services for Oxy along the Mississippi River corridor from Wagman to Baton Rouge. Unlike the relationship that we announced with Talos last quarter, this would be very similar to a standard transportation service agreement, one that you would see in a traditional midstream operation. Consistent with our strategy of utilizing assets already in the ground, we would use both existing and some new-built pipelines and related infrastructure to transport CO2 from industrial emitters along the Mississippi River corridor to Oxy's planned sequestration site. Earlier this year, Oxy secured a pore space lease of over 30,000 acres in Livingston Parish, Louisiana. This announcement with Oxy coupled with our alliance with Talos speak to the very real opportunity we see in Louisiana to build a large-scale business, providing solutions to industrial emitters along the Mississippi River. We continue to make solid progress on commercial discussions, and we look forward to providing more color on these efforts in the near future. With that, I'll turn it to you, Ben, for our operational update.