to everyone, listening thank Thanks, to the Dwayne. for call. Good you morning and
dwelling I'd the the XXXX tailwinds lies primarily what in confident ahead long-term are my of new on are cash excess a a sequential encouraged we of away few be segments we and capital our even most front when change inflection structural and of on now sustaining midyear time are to notable our and As we on our with in in short realized start-up a we to Genesis today more short will We away from from if and and this XXXX, been day time the volumes our of segment here in with long from encouraged we over and by in offshore strong been remainder us for a while this position schedule. meaningful could rather of as earnings hiccups beyond. major be the spending our from earnings segment, year growth few we've operations program, XXXX, point Marine generate is reaching static see And a well-positioned X prospects have each months the cash performance deliver passes.
Instead focus other what margin, way, driven last. just we complete morning, cost along mentioned release current step coming. moment had remain of to in more say, has contracted businesses.
Needless I this of comments in what to get our a remain importantly, running relative
be the schedule Shenandoah operators, were the told next are could the resumption conversations to, associated deliver of both percent which occur in expected should we from remain segment combined impacted see our with segment Offshore volumes each on Offshore development should in in see When Our very and They upwards Transportation growth both we our positioned from quarter. with in Based new and Pipeline the volumes originally margins is now if XXXX. segment fields production Offshore that their with not ramp we Salamanca. year, with expected sequential first of to developments, above, to on quickly expected negatively volumes over eventual from X cases. significant last several second contracted high growth recent XX-plus months, the developments
and Transportation reasonably to day large At deliver more driven the for macro segment as record story water, expected remains same on being in time, reductions our these will we We Marine time all and market, for again retired. older supply results driven the should Our Marine improving in and XXXX, across of Transportation while believe classes from XXXX persist barges segment support to more steady steady they more is in are XXXX. relative vessels.
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saw of challenging we China market the half keep the macro at the lid on last in XXXX, the the soda a year. expected mixed market demand in to expect prices, ash is The export combination into and we soda today, early here in picture of to a a part sit markets. conditions we in especially well-supplied of outside persist our of year least back As ash
combination tighten no but more as ultimately and a necessary my resumption doubt of are occur, this remarks, the high-cost color reductions to continues in to through China, we recover. the we are supply encouraged synthetic in little next. prices give market market into growth they supply year are the starting historical further these prepared expect that help of move help later we and below a need prices to cost rationalizations I'll demand current producers, of undoubtedly While cash particularly and will
perform get segment backdrop, this however, near ash we until cash savings marginal suppliers. recover the business would we line and when kind to from expect implementing what Similarly, reflect a least XXXX be prices the sideways XXXX, our generated and with market expect our operating performance of and to at their our in we initiatives, business and Transportation Given an at margin refinery last despite services performance to and the year. cost also we improving otherwise we to expect legacy cost Facilities of segment closely year Onshore in certain more soda or
above beyond simplify to we our segments hitting anticipated While all sustain to strengthen will rather cash of our cost and harvest path cylinders, year-over-year business, we clear. on all amounts this in would our will forward accelerating and see action businesses use of of sideways with cash our and we and to remains a crystal couple in structure. XXXX, begin Even operate capital the
any projects foreseeable the capital-intensive for We future. are pursuing committed to not
the while business managing structure.
With to bank to pay or will cost our terms, and another, in debt years convertible ratio to all the long-term excess our remain retire or to on flow briefly ahead our this which use we business, We in that, in expect form cash of to are in our allow individual leverage deliver high-cost the our We on sustaining absolute and running long-term of will one segments. to I'll unitholders lower our down target. that us both value of calculated capital capital the touch everyone path confident to return look amounts opportunistically cash preferred, increasing redeem
We fields wells. the of continue restoring several that of our in of issues of earnings that from deepwater offshore As these connected infrastructure. now available are now mechanical only mentioned X experience production can to customers the our affected affecting our actively are that out XX rigs producer on in Gulf report release, multiple working total to America are working
that operators the the by such activities be told are should completed over We remedial months. several intervention next
the past, levels expect underlying consistent return in to continue the prior expect mechanical producing to affected no negative we reiterate to the volumes mentioned cropping reservoirs, operators and what impacts they to As issues the have fully producers up. they long-term to to and were they
the More totally expected importantly, few projects be offshore in are to months. next our construction complete
to months. expected to team checks, and and the production set stages first recently final nearing it the of construction, completing at Texas, final second floating it system completion. of lifting in production than the location. Shenandoah journey move to installed start from is The sail which its preparing in primarily in consist the pipeline Korea off outfitting Ingleside, its its completing final of location the is will FPU is final Shenandoah and connecting Our South sink safety once mid-December in seafloor in Salamanca production is X After less quarter.
Similarly, advance arrived also it to thus XX,XXX-mile its facility the
for the confirm In serve FPU to visited I it production many is existing as footprint is study for be some X refurbished FPU the months. facility of christening will this Salamanca really the case from decades likely confident that it complete, last to a production cheaper facility will of schedule estimated some middle be be year. its of the was Salamaca South date sail than on a production XX-plus final than FPU newbuild, The setting of the in the platform will a come.
The site benefits can and offshore near is importantly, to and close and of America very first Texas and very Salamanca the the to first long see. for being new accelerated Gulf a to in carbon location of week fact, I'm in quite a its future, newbuild, repurposing remains XX% more an earlier to by the less great
to production facilities per combined project. high-end the at will production to end perhaps rates will than significantly and not very continue their oil the these continue than of and higher of levels quickly if We expectations reach they stand-alone almost year, ramp their when internal levels production the In of producing day X new take-or-pay both barrels incremental the original materially anticipate sanctioned even cases, their handling anticipated capacity believe by XXX,XXX operators higher sooner. likely or our
or are these opportunities, mentioned X future past, future. additional platforms into service As to also years in the years for we new could production sustain subsea cash increase for expected flows or and developments facilities have the which tieback floating us host to these
Shenandoah FPU activities completion million is a to Shenandoah, quarter In at wells be in will in Phase of add operator conducted the the field. start Monument -- the Phase announced sanctioned with Shenandoah that XXXX will fourth field, X X include Shenandoah approximately development of subsea Beacon production oil and addition XXXX that is associated which XXX known is -- XXXX, additional next expected phase the in reserves. X the estimates from sanctioned to and Beacon of Phase tieback Activities barrels sanctioned to the of between which announced the PXX the Shenandoah it and as that equivalent X. drilling this December
to dedicated proximity plans in in Walker X,XXX facilitate development Shenandoah wells, million XXXX. ranging located occur equivalent Shenandoah will total Shenandoah quarter discovery cost-efficient of and is its to drilling well X,XXX the of riser to of Beacon flow include and feet. The South. XX of by initial expected the are Additionally, XX production of field's the from Beacon the Ridge South depth expected be X-mile tieback partners PXX from the a reserves and with South connection FBU.
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expanded together, multitude it is Beacon to developments offshore X, production oil new that asset their to truly of a connected XXX equivalent final around oil a partners pipeline, nearly dedicated our South infrastructure. floating are once Shenandoah, CHOPS unit the be for exist on of this the Shenandoah sink taken project, new the of example one our next opportunities to have made able connected installed to yet XXX% to production and million not its another Monument infrastructure.
When PXX is and the our barrels offshore estimated remarkable and Shenandoah investment yet Phase and While produce new with Shenandoah opportunity reserves set the decision lateral South of decade
our Westvaco its capacity. Granger operating our are we Soda above us, in design Turning pleased been production behind Services Sulfur XXXX at experienced the that facility report at or our has and now issues performing recently and now facility to to that segment. I'm
levels team and opportunities confident I'm these production Our for forward. is steady operating looking to optimize efforts constantly will our contribute performance, more moving towards
effort recently As to of market mentioned business. our focus in also last quarter side to a conditions, have and the we on concerted response cost we made current
to a implement our team opportunities, we the to As reduce marginal identified operating started have numerous has efforts, business. costs of initiatives these in fixed and since result and several our
fundamentals to cost believe allow us and improve, benefit meaningfully a broader which We they that improved continue the to do. when performance the of combination they operating always market lower and structure will overall will,
a yesterday, year remains a January, with from reducing XXX,XXX production producer needs more producer inferior global we that, and supply synthetic exports tons As markets synthetic it market consistent was Late remain its short global discussing the to consider mentioned see demand in United most the tons lows. from there ceasing market year announced also in said our be synthetic well operations approximately forced it last at last inventories approximately cuts end production recent of last soon reducing conditions ash remaining market mixed with release, from it Furthermore, from additional per last XXX,XXX year, with and facility announced market.
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And would was another
are Everything any we this As in marginal market, soda and we certainly of the such behavior XXXX, events side supply are to prices to occur, based more could of closer balanced are reasonably in as these cost on beginning the will we producers synthetic as to one would the prices almost and more and meaningfully cost is of we expect more soda same, a Regardless taken to ash us through when we beyond. steps operations would offline, rationalization recovery prices our market world's we we XXXX progress historical improvement move see improve. in in where certainly from the expect high-cost that lowest future. but supply in else and the allow -- taking on confident benefit ash the
constructive, rates Transportation remain all in our vessels. near broader Jones market Our as conditions segment and with the utilization Act practical operated capacity or for classes expectations Marine performed XXX% at we our available line of with of
turn based to our be prices turn that and around of conclude, cost a which, conservative.
The sustaining could be business I and remain $XXX in in there few meaningful we inflection know that expected business, of And beyond excited of behavior and not if is production, and what we $XXX if built. the number at per recovery be around special growth has all around today, in in retired ash EBITDA market there based synthetic to our of there on see the XXXX vessels. upon out net $XXX $XXX soda new stop steady XXXX a no to our vessels classes not could year. of to additions million could XXXX, barges earlier, flows fully spending XXXX, in market in reasonably for If our X committed ash soda realistically business.
Along running dynamic cash start doesn't just we continue We historical point as cost older reaching capital, where to even million. will quickly.
To high-cost as and shutting cash of could time, we significant those and growing market believe more reasonably lines about cash harvesting number in be million is the demand adjusted to continue have be At same This been and limited, sustaining improvement running mentioned been be a excess million. limited currently is and months
even redeem debt excess decrease. and the generating begin to beyond That XXXX another, and use pay we year calculated will capital our target. our accelerate cash bank unitholders more we to use we pay redeem and As later form managing more give in running in down one sustaining more to and business it to periodically will long-term all that cost flow securities the and return of cash even us preferred, even as leverage flexibility while debt, will high-cost more preferred this or even ratio off our
We that efforts safe management entire you every to structure. Directors back the would capital moderator for proud like I'd our commitment are of Finally, with and I forward. I'll again all extremely commitment long-term decisions confidence believe say the reflect one individual stakeholders each and value operations. to for Board our that, like the and this workforce team regardless our of to the the them.
With steadfast where we in to I'm responsible once in are associated turn making to to remain building for unwavering moving Genesis of their in questions. it commitment be and recognize and our
