Williams Companies, Inc. (The)

is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to Danilo Giovanni, Vice President of Investor Relations, ESG and Investment Analysis. Please go ahead.

Thanks, Stephen, and good morning, everyone. Thank you for joining us and for your interest in the Williams Company. Yesterday afternoon, we released our earnings press release and the presentation that our President and CEO, Chad Demers, and our Chief Financial Officer, John Porter, to speak to this morning. Also joining us on the call today are Larry Larson, our Chief Operating Officer, Lane Wilson, our General Counsel, and Rob Wingo, our Executive Vice President of Corporate Strategic Development. In our presentation materials, you'll find a disclaimer related to poor looking safeties. This disclaimer is important and integral to our remarks, and you should review it. Also included in our presentation materials are non-GAAP measures that we reconciled to generally accepted accounting principles. And these reconciliation schedules appear at the back of today's presentation materials. So with that, I'll turn it over to Chad.

Thanks, Danilo. And thank you all for joining us today. Before we dive in, I want to welcome Rob Wingo to the call. Rob joined Williams on July 14th, backfilling my previous role. And Rob has hit the ground running, and we are thrilled to welcome him to Williams and to welcome his family to Tulsa. With Rob now on board, we have successfully transitioned and settled the leadership team, and we are laser-focused on not missing a beat. Alan and I have had a very smooth transition, and last week we held our first series of Williams board meetings with Alan as executive chair. It was a great set of meetings with our board, and we continue to benefit from what I believe is the very best board in the energy industry. It really is an incredible time to be at Williams. Our teams are firing on all cylinders, and the fundamentals supporting our business are stronger than ever. We continue to see robust demand across our footprint, and you will see rising tides in our offshore business in the west, along the Gulf Coast, across the northeast, and of course, along our Transco corridor. As an example of these fundamental tailwinds, after posting record demand on Transco this past winter, in July, we set an all-time record for summer demand on Transco, delivering a record-breaking 16.1 BCF of natural gas on July 29th. In addition, nine of the ten all-time highest peak summer days have occurred this summer, and you might think this is being driven by an abnormally hot summer, but in fact, on a cooling degree day basis, this summer has actually been 4.2% cooler than last year. And now to the quarter. Our teams continue to deliver strong, consistent performance across the business, and the second quarter is another example of how we are positioned to lead and grow in an evolving energy landscape. So let's begin on slide two. From deep water developments to major pipeline expansions, our team has consistently delivered complex projects on time and on budget. In fact, oftentimes ahead of schedule and under budget, and this past quarter was no different. In total, we placed six major projects into service, including Transco's Southeast Energy Connector in Alabama and Transco's Texas to Louisiana Energy Pathway project along the Gulf Coast. In the deep water, We successfully completed the expansion of our GULP-E system to serve Chevron's Ballymore production, which started up in April, and we commissioned Shenandoah, which will drive significant cash flows across our Discovery offshore asset that is now wholly owned following last year's acquisition of our partner P66's interest in Discovery. In the Haynesville, we brought the Louisiana Energy Gateway and Haynesville West projects online, enhancing our ability to deliver reliable energy across key markets And we continue to strengthen our footprint in the Hainesville, completing the acquisition of Sabre Midstream at an attractive multiple and further enhancing our position as the largest gas gatherer in one of the most prolific natural gas basins in the country. As our new projects ramp up and serve our customers' needs, they will really show their power from an earnings perspective through the second half of 2025 and beyond. As for projects and execution, we've accelerated the timeline for Transco's Southeast Supply Enhancement, or SESI project, which is the largest project ever from an earnings contribution perspective in the history of the company. Accelerating SESI shows our ability to move quickly and efficiently in response to customer needs and growing natural gas demand across the Mid-Atlantic and Southeast markets. We also began construction on the Soccer Keys Power Innovation Project, And we remain on track for bringing that project in service in 2026 as Williams supports our nation in winning the race for artificial intelligence and the next generation of technology. And in late breaking news, just yesterday, our team finalized the commercial agreements for Transco's Northeast Supply Enhancement, or NSSE, project. This is a significant step forward in bringing increased energy reliability, affordability, and lower emissions to New York City, and we look forward to finalizing federal and state regulatory approvals. The country is waking up to the fact that when we lag in building natural gas infrastructure, we see increases in energy costs, a reduction in energy reliability, and a stifling of economic opportunity and growth. We're hopeful that we will continue to see constrained markets reopen and embrace natural gas as the very best solution for lowering emissions reducing consumer costs, and delivering energy reliability and security with U.S. produced energy. Turning to our financials, we are increasing our 2025 adjusted EBITDA guidance midpoint by $50 million, and we're now guiding to $7.75 billion at the midpoint, which represents a cumulative $350 million raise since our original guidance was set in 2024. At our revised midpoint, our performance from 2020 through 2025 will deliver an impressive five-year EBITDA annual growth rate of 9%. And John will go through this in more detail in his remarks. And finally, we published our 2024 sustainability report last week, which outlines our progress in environmental stewardship, social responsibility, and governance, and we continue to lead the industry in this space. As I said at the top of the call, it is an exciting time at Williams. And I'm very proud of the team and equally excited about the opportunities ahead. And I'll now turn it over to John for a deeper dive into the financials.