EnLink Midstream, LLC

Good morning and welcome to the in-link midstream third quarter 2022 earnings call. All participants will be in listening mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note, this event is being recorded. I would now like to turn the conference over to Brian Brungard, Investor Relations Director for Enlink Midstream. Please go ahead.

Thank you, and good morning, everyone. Welcome to Enlink's third quarter of 2022 earnings call. Participating on the call today are Jesse Aranivas, Chief Executive Officer, Ben Lamb, Executive Vice President and Chief Operating Officer, and Pablo Mercado. Executive Vice President, and Chief Financial Officer. We issued our earnings release and presentation after the markets closed yesterday, and those materials are on our website. A replay of today's call will also be made available on our website at www.nlinked.com. Today's discussion will include forward-looking statements including expectations and predictions within the meaning of the federal securities laws. The forward-looking statements speak only as of the date of this call. and we undertake no obligation to update or revise. Actual results may differ materially from our projections, and a discussion of factors that could cause actual results to differ can be found in our press release, presentation, and SEC filings. This call also includes discussions pertaining to certain non-GAAP financial measures. Definitions of these measures, as well as reconciliation of comparable GAAP measures, are available in our press release and the appendix of our presentation. We encourage you to review the cautionary 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 Jesse, 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 Jesse Aranides.

Thank you, Brian, and good morning, everyone. Thank you for joining us today to discuss our third quarter results, which include another quarterly record adjusted EBITDA. I joined InLink a little more than 100 days ago. And in that time, my expectations have been exceeded by both the size of the opportunity and the team's commitment to executing on our plan. In this short time, we've set new quarterly adjusted EBITDA record, are on pace to grow 2022 adjusted EBITDA 23% over the prior year. and secured a landmark carbon transportation deal with ExxonMobil. I want to take this moment to highlight five areas where NLINC's execution is driving momentum and building a unique opportunity that our team is ready to seize. First, NLINC is executing our financial outperformance in 2022. Last night, we announced record quarterly EBITDA of $343 million, which represents a 34% growth rate year over year. Due to the strong momentum we are seeing today, coupled with our robust results year-to-date, we now expect to end the year with adjusted EBITDA at the top of our guidance range. Second, InLink is in a strong financial position. We have reduced leverage by half a term so far this year and proactively addressed our capital structure. We have ample liquidity and no meaningful near-term maturities. Third, we continue to execute our balanced capital allocations. While we continue to de-lever, we're finding attractive investments to grow our business, including our carbon solutions business. We are increasing the return of capital to common unit holders with our continued execution of our unit buybacks. Fourth, NLEAC is still building momentum. We see visible volume growth in 2023 in our GNP business. We are also well positioned for the future with 90% of our business in natural gas and NGLs. which will be in high demand for decades to come. In addition, we have what I think is a premier energy transition opportunity in the midstream space with the CCS business we are building. Finally, to elaborate on that point, we are seizing on the unparalleled opportunity we have to be the CO2 transporter of choice in Louisiana. Prior to joining NLINC, I knew NLINC was well positioned to secure carbon capture transportation and sequestration agreements. However, the opportunity is even larger than I realized. Enlink is extremely well positioned with 4,000 miles of pipe in Louisiana, much of which is in the coveted last mile to the industrial facilities in the Mississippi River Corridor, an area that emits approximately 80 million metric tons a year. Utilizing our extensive network enables us to offer the most timely and cost-effective CO2 transportation solutions. with a significantly lower environmental impact. And VAERS recently highlighted NLINC's opportunity by estimating 49 million metric tons per year of sub-$55 per ton capture break-evens within 10-mile radius of our system. Enhancements to the 45Q carbon sequestration tax credits in the recent IRA legislation should only serve to expand and accelerate the development of the CCS market. As we shared in our recent announcement, we are executing on our first mover advantage in Louisiana by signing a definitive transportation service agreement with ExxonMobil for CO2 transportation with a reserve capacity of up to 10 million metric tons per year. With this agreement, NLINK has done something no other midstream company has been able to do, secured a definitive agreement for a significant CCS project with commitments from the top industrial emitters and a high-quality sequestration provider. Ben and Pablo will provide more details on this agreement, which I believe is the first of many more to come for the CCS business. In summary, In-Link is well-positioned in executing on the significant opportunities in front of us, which I believe provide a significant energy transition growth-wise to our existing business. With that, I'll turn it over to Ben to provide an overview of our operations.