ONEOK, Inc.

Hello and welcome to the One Oak fourth quarter 2022 earnings conference call. All participants will be in listen-only 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 from the question queue, please press star, then two. Please note, this event is being recorded. I would now like to turn the conference over to Mr. Andrew Ziola. Please go ahead.

Thank you, MJ, and welcome everyone to One Oaks' fourth quarter and year-end 2022 earnings call. We issued our earnings release and presentation after the markets closed yesterday, and those materials are on our website. After our prepared remarks, management will be available to take your questions. Statements made during this call that might include One Oaks' expectations or predictions should be considered forward-looking statements and are covered by the safe harbor provision of the Securities Acts of 1933 and 1934. Actual results could differ materially from those projected in forward-looking statements. For a discussion of factors that could cause actual results to differ, please refer to our SEC filings. Just a reminder for Q&A, we ask that you limit yourself to one question and one quick follow-up in order to fit in as many of you as we can. With that, I'll turn the call over to Pierce Norton, President and Chief Executive Officer. Pierce?

Thanks, Andrew, and good morning, everyone, and thank you for joining us this morning. On today's call is Walt Hulse, our Chief Financial Officer and Executive Vice President, Investor Relations and Corporate Development, and Kevin Burdick, Executive Vice President and Chief Commercial Officer. Also available to answer your questions are Sheridan Swords, Senior Vice President, Natural Gas Liquids and Natural Gas Gathering and Processing, and Chuck Kelly, Senior Vice President, Natural Gas Pipelines. Yesterday, we announced strong fourth quarter and full year 22 performance. We met our 2022 financial guidance expectations despite weather-related events and a significant operational incident. We also achieved our ninth consecutive year of adjusted EBITDA growth in 2022. Through the efforts of our workforce and the resiliency of our assets, We have provided exceptional value for our stakeholders and have positioned One Oak to continue delivering growth in 2023. I believe the term resiliency is a great descriptor of 2022 and will continue to be a focus of our operations going forward. Our people, assets, and earnings continue to prove their resiliency, flexibility, and stability. With yesterday's earnings announcement, we also provided 2023 financial and volume guidance expectations. Higher natural gas processing and NGL volumes and strong fee-based earnings are expected to contribute to higher earnings in 2023 as we continue to focus on both growing our core business and innovating for future opportunities. There are key differentiators of One Oaks business that have proven critical to our past success and offer us confidence in the future. These differentiators provide stability, resiliency, and unique opportunities for growth. First, our solid and growing base business, which features strategically positioned assets in some of the most productive U.S. shale basins connected with some of the largest and most well-capitalized producers in the U.S. who provide stable and growing supply to our systems. Our margins in our core businesses are approximately 90% fee-based with minimum direct commodity price exposure because of our proactive hedging strategy. Second, our strong balance sheet and investment-grade credit ratings, which provide significant financial flexibility. We've reduced our leverage to below 3.5 times and a significant milestone for us. We provided investors with more than 25 years of dividend stability and growth, not cutting our dividend during the COVID challenge years, and recently announced a dividend increase. Third, our proven track record of intentional and disciplined growth. We continue to benefit from significant operating leverage across our systems, enabling us to continue focusing on lower capital high return projects, and investments to support producer growth across our operations. Our strong return on invested capital is a source of pride for One Oak and is a key metric for evaluating our management's team performance annually. Our nearly 15% ROIC in 2022 highlights the scrutiny that we place on investments, the efficiency of our capital, and the high quality of our project's earnings. And this disciplined growth also approaches and will continue. Finally, the continued demand of the energy products and services that we provide, which are vital to our national security and the quality of life, and which we believe will play an important role in a transforming energy future. US natural gas and natural gas liquids remain abundant and reliable. The products that we move will continue to provide much needed energy domestically and globally. We enter 2023 from a position of strength, driven by a year of solid financial and operational performance. And as you can see, there are many reasons why we are confident and optimistic about One Oak's future. With that, I'll turn the call over to Walt for a discussion of our financial performance.