ONEOK, Inc.

Good day, everyone, and welcome to the first quarter 2025 earnings conference call. All participants will be in a 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 and then one on your touch-tone telephone. To draw your questions, you may press star and two. Please also note today's event is being recorded. At this time, I'd like to turn the floor over to Megan Patterson. Ma'am, please go ahead.

Thank you, Jamie, and welcome to One Oak's first quarter 2025 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 Oak's expectations or predictions should be considered forward-looking statements and are covered by the safe harbor provision of the Securities Act of 1933 and 1934. Actual results could differ materially from those projected in forward-looking statements. For discussion of the factors that could cause actual results to differ, please refer to our SEC filings. Just a reminder for Q&A that we ask you to limit yourself to one question and one follow-up 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, Megan. Good morning and thank you for joining us. On today's call is Walt Holtz, the Chief Financial Officer, Treasurer and Executive Vice President, Investor Relations and Corporate Development, and Sheridan Swartz, Executive Vice President and Chief Commercial Officer. Also on the call are Kevin Burdick, the Executive Vice President and Chief Enterprise Service Officer, and Randy Lentz, Executive Vice President and Chief operating officer. Yesterday, we announced our first quarter results, highlighting the performance of our integrated systems and a disciplined growth strategy. These results were driven by our dedicated employees. Results for the quarter were in line with our first quarter expectations, and we affirmed our 2025 financial guidance and 2026 outlook, both of which were originally provided in late February. As we've exited the winter, volumes across our system have wrapped up significantly, providing momentum for additional growth through the remainder of the year. We're also entering what is typically our strongest two quarters for the refined products demand in the second and third quarters. We continue to execute on acquisition-related synergies, which combine with the completion of organic growth projects and the demand for our services will continue to support earnings growth throughout the remainder of the year and beyond. We're approaching full completion of several organic growth projects, including the West Texas NGL Pipeline Expansion out of the Permian Basin and the Elk Creek Pipeline Expansion out of the Rocky Mountain region. Additionally, a number of key synergy-related projects are nearing completion, which we expect will provide a tailwind to earnings for the second half of 2025 and into 2026. One of these projects is the connection of the Easton Energy NGL assets with our Gulf Coast infrastructure. Sheridan will talk more about the strategic benefits of our Synergy projects during his commercial update. As we've entered the second quarter, we're gaining momentum into the back half of 2025 with volumes ramping up across our systems and many smaller-scale, high-return Synergy projects coming online. While there is much to be excited about at One Oak, we also recognize that we're operating in an environment with a number of evolving macroeconomic market variables. We closely monitor a range of macroeconomic indicators, including commodity prices, producer activity, inflationary trends, and regulatory developments. And we remain focused on navigating appropriately to shifts that could affect the markets that we serve. While no business is completely immune to volatility, we believe that 1UP is structured to perform through various cycles and is in a position to continue delivering value. First, 1UP looks very different today than even two years ago. We've been intentional about adding scale, demand pool markets, geographic diversification, and fully integrating our system. Our integrated and diversified footprint across multiple products and geographies positions us well to manage through periods of uncertainty. Second, we have a unique and attractive earnings catalyst related to acquisition synergies that are not tied directly to production volume growth. Some of these catalysts include bundling services, liquids blending, maximizing volumes from acquired systems, for our downstream assets and capturing efficiencies on newly integrated assets. Third, our strategically positioned assets are in some of the most productive U.S. shale basins. We're connected with some of the largest and most well-capitalized producers in the U.S. with decades of proven reserves to provide stable and growing supply to our systems. They make informed decisions supported by data and experience. And finally, we remain committed to our strong balance sheet and investment grade credit ratings, which provides significant financial flexibility. Our commitment to capital discipline and focus on return investments is embedded into our business strategy. So while we monitor near-term market dynamics closely, the strength of our businesses lie in our geographic diversity, integrated footprint, innovative employees, and strong commercial relationships all of which provide long-term value. I'll now turn it over to Walt and Sheridan to provide their financial and commercial updates. Walt? Thank you, Pierce.