ONEOK, Inc.

Good morning, everyone, and welcome to the One Oak second 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 phones. To withdraw 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, Vice President, Investor Relations. Ma'am, please go ahead.

Thank you, Jamie. Welcome to one of the second quarter 2025 earnings call. We issued our earnings release and presentation after the markets closed yesterday, and those materials are available on our website. After our prepared remarks, management will be available to take your questions. Statements made during this call that might include one of the expectations or predictions should be considered forward-looking statements and are covered under 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 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 follow-up to fit in as many of you as we can. With that, I'll turn the call over to Pierce Norton, President, Chief Executive Officer. Pierce.

Thanks, Megan. Good morning, and thank you for joining us. On today's call is Walt Hulse, our 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, Executive Vice President and Chief Enterprise Service Officer, and Randy Lentz, our Executive Vice President and Chief Operating Officer. Yesterday, we announced higher second quarter results and affirmed our 2025 financial guidance ranges, which were originally provided in late February. Our second quarter adjusted EBITDA increased 12% compared with the first quarter, highlighting the continuation of incremental synergy capture increasing supply and demand strength. As we exited the winter, we saw accelerated volume momentum through the seasonal improvements across our operations, driving sequential quarter growth in AGL and natural gas processing volumes across all regions and increasing refined products demand. The sequential EVA dog growth we experienced this quarter was consistent with our expectations at the beginning of the year. and begins to demonstrate the potential earnings of bringing these assets together. As we continue to navigate an evolving macroeconomic landscape and shifting market dynamics, we believe the energy sector remains resilient with domestic and global demand for U.S. energy continuing to be well supported. Producers across our acreage continue to execute their 2025 drilling plans and drive efficiencies in their drilling and completion techniques. We're monitoring the 2026 market dynamics closely while continuing to execute on our growth strategy and support supply and demand market needs. Our focused investments on high return organic projects such as the Bakken's Elk Creek Liquids Pipeline, West Texas NGL Pipeline, and Denver Refined Products Pipeline Expansions and the Medford Fraction East Facility provide significant operating leverage and position us to capture incremental growth across our assets in the Williston Basin, the Powder River, Mid-Continent, and Permian Basins. Today, we are announcing a final investment decision on a new natural gas processing plant in the Permians-Delaware Basin, further expanding and enhancing our presence and what is a key strategic area for 1UP. Sheridan will provide more details on this project and our Permian growth strategy in his remarks. Our acquisitions are delivering tangible benefits as we continue to make meaningful progress on acquisition-related synergies and organic growth. Our contiguously integrated assets, diversified business mix, and strong balance sheet provide flexibility, enable opportunities, even during changing market dynamics. As always, we'll remain intentional and disciplined in our approach to capital allocation as we evaluate future opportunities. I'll now turn it over to Walt and Sheridan to provide their financial and commercial updates. Walt?