Westlake Chemical Partners LP

Good morning. Thank you for standing by. Welcome to the Westlake Chemical Partners Third Quarter 2021 Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. After the speaker's remarks, you will be invited to participate in a question-and-answer session. As a reminder, this conference is being recorded today, November 2, 2021. I would now like to turn the call over to your guest host, Jeff Hawley, Westlake Chemical Partners Vice President and Treasurer. Sir, you may begin.

Thank you. Good morning or afternoon, everyone, and welcome to the Westlake Chemical Partners third quarter 2021 conference call. I'm joined today by Albert Hsiao, our president and CEO, Steve Bender, our executive vice president and CFO, and other members of our management team. During this call, we refer to ourselves as Westlake Partners or the partnership. References to Westlake or Westlake Chemical refer to our parent company, Westlake Chemical Corporation, And references to OPCO refer to Westlake Chemical OPCO LP, a subsidiary of Westlake Chemical and the partnership, which owns certain Olyphant's assets. Additionally, when we refer to distributable cash flow, we are referring to Westlake Chemical Partners MLP distributable cash flow. Definitions of these terms are available on the partnership's website. Today's management is going to discuss certain topics that will contain forward-looking information that is based on management's beliefs as well as assumptions made by and information currently available to management. These forward-looking statements suggest predictions or expectations and thus are subject to risks or uncertainties. Actual results could differ materially based upon many factors including operating difficulties, the volume of ethylene that we are able to sell, the price at which we are able to sell ethylene, changes in the prevailing economic conditions, actual and proposed governmental regulatory actions, competitive products and pricing pressures, the COVID-19 pandemic, extreme weather events, our ability to borrow funds and access capital markets at a reasonable cost, and other risk factors discussed in our SEC filings. This morning, Westlake Partners issued a press release with details of our third quarter 2021 financial and operating results. This document is available in the press release section of our webpage at wlkpartners.com. A replay of today's call will be available beginning two hours after the conclusion of this call. The replay may be accessed by dialing the following numbers. Domestic callers should dial 855-859-2056. International callers may access the replay at 404-537-3406. The access code is 828-5407. Please note that information reported on this call speaks only as of today, November 2, 2021, and therefore you are advised that time-sensitive information may no longer be accurate as of the time of any replay. I would finally advise you that this conference call is being broadcast live through an Internet webcast system that can be accessed on our webpage at wlkpartners.com. Now I would like to turn the call over to Albert Chow. Albert?

Albert Chow Thank you, Jeff. Good morning or good afternoon, everyone. And thank you for joining us to discuss our third quarter 2021 results. In this morning's press release, we reported Westlake Partners' third quarter 2021 net income of $30 million, or 36 cents per unit. During the quarter, higher ethylene production contributed to consolidated net income, including OPCOS, of $66 million. In mid-September, we began our planned turnaround at OPCOS Petrol 2 facility in Lake Charles, Louisiana, which we now anticipate to be completed in December. Westlake Partners' financial results in the third quarter continue to demonstrate the stability generated from our fixed margin ethylene sales agreement for 95% of annual plant production each year, insulating us from market volatility and other production risks. This certainty, combined with our investment-grade sponsor, Wesley Chemical, produces predictable earnings and stable cash flows. I will now like to turn our call over to Steve to provide more detail on the financial and operating results for the quarter.