Good morning.
Nonetheless, good for detail most I in had results all March earnings you release the the in quarter, this pretty we XXst. quarter earlier that of the a morning. as discussed ended greater interested are would doubt in issued we
obvious no and unique means by to several to second challenges then March, and February pointed arise continued started out in As into we Genesis the quarter.
chase. to cut the just let's So,
driven look one swaths demand although with of world Our to is multiple COVID-XX. has what just operating been a will the the it environment like. and has, or most destruction industrial will maybe start, generations, it economic every will it recovery, when There large likely activity across knows be it of deal company’s down virtually the challenging no in shutting energy other by
we steps covenant financial maintain our the and few have and our the particular to to manage navigate or through necessary the and the especially and facility. next taken already tools secured sheet, have credit senior our need we In flexibility in believe all quarters all able balance with compliance case, place be we
decision the before run-rate quarterly annual distribution, to asset around growth by $XXX $XXX and approximately recurring bringing obligations cash reduced reduce million, we our proactive $XXX capital With capital to inclusive maintenance year, million our but spent to our retirement expenditures. million of per
million us it EBITDA barrier to limited our With capital period. expenditures to over for and outstanding months, have growth of over $XX $XXX be next million would a not asset call this than, less adjusted XX debt retirement net approximately the be of
to growth markets Looking need payer cash of obligations debt requirements the future. our no minimis de Capital which the recurring funded Partners, to be the a GSO and we forward, for Granger capital have through therefore expect our of and expansion, with agreements foreseeable given outside capital be can access net
segments. insurmountable. segue business challenging environment come good discussion how don't with and just we that's a remains, matter No a our of the scenario becomes that into is the And up individual
out us, volumes the and grow year certainly of this at deepwater Mexico of for next total expect the Gulf We years. over several least to
and units constant. These fallen onshore last remained XX% long-lived have resource the somewhere XX%, have months projects. Mexico While working of by offshore mobile in exploitation Gulf XX the to between deepwater drilling are rigs development in
XXXX. going deepwater we for just late day, from a received regarding an a barrels operator and than more through example, starting an XXXX March, in inquiry As in capacity XXX,XXX
which have Quay, our known the like a risk. significant contract in Argos brand of and Phase the like sanctioning Atlantis we and reserve features, delays completion or sanctioned little Although be production see in X, environment, take-or-pay timing progress delayed risk, limiting might in likely and new at the King’s this to projects of current risk significant our of portion projects
potential There's a the Gulf environment current the to of in lot Mexico. low-price about shut-ins due of speculation been
our While point we've seen for financial segment. signs, they're not significant, offshore material from much view less of a
confidentiality we in a into Act, seeing can't obligations go I will our what details, of but terms and Interstate general of Because assets. across Commerce summarize we're lot
total XX,XXX expect approximately and a We across of a day be our May to June shut-in XX,XXX to barrels in footprint.
to is expect in of be to we a expected the May. maintenance this, production month But planned was to day in addition June. back barrels X this fully be for certain for to to entire in in line on event, and XX for going In it approximately be shut shut same days XX,XXX any
us, owned May, of which on month to total of least minority of could Finally, at month ownership aware became shut-ins less a we interest. pipeline, a a by net $XXX,XXX the than not additional represent our just for operated
in In summary, shut-ins of downtime. third lot and a for weather-related the typically second exhibit offshore and quarters the would often maintenance
expect extended not But, maintenance. throughput declines environment. Given we financial low-price described the directly it this see would do to or above, as be low-price from significant performance in world, logical
Turning to onshore.
to we to volumes of in As the the would zero crude-by-rail we for release, rest see mentioned expect go year. the
onshore 'XX, said, segment to expected have to this first experience segment million our have year. make lost contango seen take-or-pay and/or through quarter. no $XX to otherwise we of opportunities totally to in for than less terms of operations appeared nonetheless in do by the XXXX. Other the downside means remainder changes protections offset commitments that not certain that, through but margin margin to $XX and up help expect have in through other will relative volumes That we've XXXX, certain would significant being reported to first of quarter down than minimum the million we the lasting we XXXX some terms of stepping While
first me. quarter marine Our in group their quarter excuse fourth XXXX since the turned best of XXXX, quarter of
offshore our marine our first continue as fundamentals the was Performance of rates the and fleets driven to the expect demand second strong fundamentals with increase. inland relatively be for to improving consistent day We equipment utilization, in and by the quarter quarter. across types
intermediates focused not another. is from continues which products refined products, and location to fleet, these move needing from benefit one inland oil intermediate on finished crude to and clean Our refineries to
Market volatility us, the marine at getting for and represented assets time. barrel the in right as uncertainty the is actually right by to flexibility location a right highly the positive valued is
Sodium now Minerals Sulfur to turn I'll Services segment. our and
think legacy this, Our and experienced of refinery loss the starting at resolve services turn of business has into quarter of continuing two around which are some end fairly really second. the themselves and There volume sources first we quickly. will both the
of spread Peru our mining number in mandated in to America primarily been and COVID-XX. a have First, order shut-in in customers combat the of South to
forward we we are see the in will of likely levels reopening quarter, return the normal volume as the we quarter exclusively beyond. mines and move through be a second expect the believe third to and could to the in quarter, We lost volumes and
possible Second, paper efforts service out long a can outages much as third and current that believe entering regarding go pushing do sodium the providers party our and not and replenishing COVID-XX. longer are their processes. customers turnarounds their molecules avoid number in as of mitigation We they to having pulp sulfur during facilities without
a sales result, in currently a back the the missing showing of year. up As we of high believe have probability half these
markets. of hold from tons. ash soda by production because sales probably business the hot our We've our virus, of to mitigation destruction reducing especially in end efforts quarter demand volumes the the the Granger diminished September, in reacted total are in placing second the facility some the thereby by primarily Volumes for XXXX these challenged, our in mode, export in through XXX,XXX
both anticipated necessary the believe balance this is sales, XXXX. year calendar total to minimum domestically our internationally for We and
segment the the has slowed Demand most being across glass geographies all effective. flat with
With from of levels, explained XXXX and started be COVID-XX, and the demand rest having as XXXX the perhaps off fourth high into resulting with call year going inventory quarter in issues the with is now to we challenging. our
With really shuttered prices some take export there could If still it large synthetic worldwide, is pressure, natural matter under a be longer, portions isn't economic giving advantage. and shuttered tremendous much While production cost just demand. share, not activity us capacity it goes market we believe price. of are on the will of
demand soda care economy itself. to ash world ultimately the should reopen, starts As of for take
We start economies targeted as looking activities Italy European Detroit Germany, construction and other Austria states more are up. May up. to open and to factories. are as the more starting and Asian seeing automobile XX well pick in most as date is at back
a sales, of the just know I we will going don't have be to we in recovery, back of up and what incremental the it said look around XX,XXX picked earlier, half but all year. there's when like. Anecdotally, tons domestic
out An in preferences. of pandemic the consumer change a coming interesting be might phenomenon
could be evidence personal considered cars, transportation after emerge our Also, ash patterns single-family for emerge extended instance, contribute health services point robust, of in a these to and could desirable high-rises and that recovery stronger the they rideshare risky evidenced given For in increasingly If starting an to potentially and/or for or is of relative even businesses. stick, both sulfur be the be might of reopening soda view Wuhan, an to might homes as there densely areas. time. populated apartments demand public quite that from period
manage and every believe the and to We we our business summary, way these In taken enterprise the ability have through almost have challenges. we steps challenges. faces some
continue that resiliency and no so. for cycles. numerous We survived through years, They our and decades, have do in of businesses. doubt existed, the many confidence previous not have thrived There's will to they
miners, safely impact our less social and I with somewhat our a to can of started opportunity late employees. updated. and our pleasure personnel cases It a local, and and our our with recognize to to of February, operations, mariners changes time our and our COVID-XX as company, state other our and is amongst their guidelines such during and workforce, families policies than quality we handful their of to protocols of federal and have proudly X,XXX had starting especially to screenings offshore mitigation recommended work our people. and all the and procedures alongside procedures distancing, have procedures confirmed were protect no I in and commitment, under would like assets modify customers continued employees communicate to say other communities and this operated efforts. We or to entire our
that, moderator back to for turn I'll the questions. it With any
