Holly Energy Partners, L.P.

Welcome to Holley Energy Partners' fourth quarter 2020 conference call and webcast. At this time, all participants have been placed in a listen-only mode. The floor will be open for your questions following the presentation. If you would like to ask a question at that time, please press star, then the number one on your touchstone phone. If at any point your question has been answered, you may remove yourself from the queue by pressing the pound key. If you should require operator assistance, please press star zero. We ask that you please pick up your handset to allow optimal sound quality. Please note that this conference is being recorded. It is now my pleasure to turn the floor over to Trey Shonter. Trey, you may begin.

Thanks, Katrina, and thank you all for joining our fourth quarter 2020 earnings call. I'm Trey Shonter with Investor Relations for Holley Energy Partners. Joining us today are Rich Volova, President, and John Harrison, Senior Vice President and CFO. This morning, we issued a press release announcing results for the quarter ending December 31, 2020. If you would like a copy of today's press release, you may find one on our website at HolleyEnergy.com. Before Rich and John proceed with their remarks, please note the Safe Harbor disclosure statement in today's press release. In summary, it says statements made regarding management expectations, judgments, or predictions are forward-looking statements. These statements are intended to be covered under the safe harbor provisions of federal securities laws. There are many factors that could cause results to differ from expectations, including those noted in our SEC filings. Today's statements are not guarantees of future outcomes. Also, please note that information presented on today's call speaks only as of today, February 23rd, 2021. Any time sensitive information provided may no longer be accurate at the time of any webcast replay or reading of the transcript. Finally, today's call may include discussion of non-GAAP measures. Please see today's Pressure Leads to Reconciliations to GAAP Financial Measures. And with that, I'll turn the call over to Rich.

Thank you, Trey. Good afternoon, everyone. Thank you for joining our call today. On behalf of Holley Energy Partners, we hope you and your families are safe and in good health as we continue to navigate the ongoing pandemic. I would especially like to thank our employees for their hard work and flexibility during the past 12 months, and I'm proud to report, despite the challenges, how the energy partners have maintained safe and reliable operations. 2020 was an incredibly dynamic and challenging year. Our HEP was able to deliver strong financial results against the challenging macro environment. Annual adjusted EBITDA of 346 million declined only 4% compared to 2019, emphasizing the stability and resiliency of our business, which is underpinned by a strong customer base and long-term fee-based cash flows. Earlier this year, we announced and paid a 35 cent per unit quarterly cash distribution, which represents the same amount from the fourth quarter of 2019. Looking at our growth projects for 2021, our Christian Connect pipeline project has been impacted by construction delays, compounded by the severe weather of the past few weeks. We expect the pipeline to begin service later in the second quarter, and we continue to expect approximately $5 million in annual EBITDA net to HEP. During the past year, we announced the expansion of the frontier pipeline, as well as the construction of additional tankage at Holly Frontier's Navajo Refinery. Both projects leverage HEP's existing footprint and customer base and are supported by long-term minimum volume commitments. We anticipate the Navajo tanks to be in service during the second quarter and the Frontier expansion to be complete in the fourth quarter of 2021. Looking forward, we are optimistic that as vaccines become more widely available, we will see demand for fuels and the related transportation and terminal services we provide return to pre-pandemic levels. Our focus remains on consistent operational execution with the safety of our employees as our top priority. With that, I'll turn the call over to John.