Alan S. Armstrong
Resources now thanks officer such have has to We're to and are quarter that cover of but that company Industries. join Debbie with joining on to you, great great more to MMcf excited exciting accomplished predictable it's dramatic and Human before a a leader thank a for going add into XXX financial we Cowan slide executive now a us in everybody an get and I highlights really begun. Well, third the Debbie's III growth of Fort briefly team slide to plant outstanding We're have want to Williams. welcome hard sustainable – now. and Koch also for construction professional Honestly, of Officer, a member just for coming point talented we're President join couple our plant. point Chief morning. this to going excited Vice our and But officially presentation, many Williams. We moment photo you to our take cover we from projects which kind briefly which this for very at our to growth just the think quarter is an pause John, human highlights right we the us here new And I'll Senior demonstrated another Great. processing metrics, key team. on, us of platform our XXXX. resources is continued, review to on many gas Lupton a very and all pleased and the the so because projects in side pick left-hand day here to strong our
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space some that big see of growth we're pool. and all to actually it the in outstripped then again, and So, the got continuing –
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this become as to following natural base interesting gas and really as emerge renewables well to now starting see load see load online. come it's So, as
so, renewables actually that And natural outstripping growth. gas new is a lot of but
just things So, list let me about we're the real talk going to here quickly. other today
perspective happened operational I'll major project stacks have the other investment contributions discuss we'll provide we'll up highlight little quarter key spend off, as the U.S. the And during the up and the revisiting in third Then, our third achievements for period. year-to-date. we'll broader the key a WMB key and investor of an drivers by First against quarter providing wrap Williams. metrics an time for on that market. areas on focus behind And some the the update and how financial
to and those investor move let's slide So, at some X, of areas. look focus key
I a quarter with we of insulate we fundamentals broader that the results, But this all, great many the enjoyed get want of of us discuss to investor details First in those many from into space. the concerns strong highlights. before
quickly current we so, of this on topics frequent up against concern. stack and these perspective investor slide, we the thought how provide most some And hit on areas we of our own
Northeast do first So all, of questions G&P a on growth. of we our lot of get views
our pool sorry, commitments growth local in and accelerated markets Atlantic is know, now economics the that up strong Marcellus demand from Northeast. Northeast collapsed producers And segment. from Atlantic processing as even gathering providing that's and much for the a all new the and And producers so, in There's bases – stronger in business opened Sunrise our driving has fee-based we pipeline startup Sunrise's G&P business more area.
to service, Leidy per gas was day into Atlantic rose $X.XX prices from As placed the on October Sunrise an $X.XX/Mcf which X, was Mcf. that Northeast example,
day, a prices have October. that Now, upwards in the wouldn't for continued lot now balance by just one that – except gas to whole you drift tell of
South Leidy changing the in gas Tennessee an well. entire probably, any infrastructure significant basin, change of been from Dominion that seen piece career, the my So, as not price that's most also but just and the we've major gas
over going over of a last (XX:XX:XX) day of the that's And plan few within years, is which, to of specific accurate. X% customers to been detailed very has they're where meet to understand closely cycle wrapping we us over we've that up needs have operated Northeast Bcf very that Right led a business headed? where budget have now, next September volumes forecasts are own their years So, with going and on. a different is drivers number the example, expectations on This the work X of well-by-well plan. our very two the G&P through with producer internal for the we're work XXXX, to annual project
a that's time plan so, last about was And this generated that year.
our in significant segment amounting growth during of margin work higher this volume we with So, time should which a XX% right commitments uplift steady the on we growth in volume XXXX. CAGR. handle even Northeast have expect that drive through CAGR to to good tells minimum expect along should to we that from continue realize than that us do build drivers XXXX additionally, and facilities operating XX% a we we our very forecasting also build And as our now EBITDA think overall out the
quarter results our measure Analyst that we've margin, is to in seen operating XXXX XQ by you third where of can EBITDA pointed that in quarter XXXX, the per now Mcf, period third to actually often you here versus a XQ So, Day, as our the evidenced XXXX see again, we've in increase it improving which XXXX, that X%.
and So, as more we're of more seeing we as going build, benefit. to our see we that volumes come are through And had forecasted. that
not even only in faster but EBITDA. So, growth in our volumes growth
about questions area. think can in And beyond clear EBITDA our field overall not providing pretty our general about beyond XXXX. specific we this while we're we Secondly, XXXX, growth guidance expectations I be
on know, of planning XXXX XXXX. guidance as new we the of look but comfortable great to as EBITDA growth at X% reflects that we X% further probably five-year could sharing our EBITDA our you for longer term. And, As visibility growth improve have XX% have approximately cycle. we our We course, projects, feel expectations approximately over growth
the on we into X% contracted is and demand have great And it's to just fully-contracted growth more, have today. what's as steady business because predictable X% visibility based that this fee-based by payment fundamentals We the growth just natural long model keep impacted it and those And is better. getting margins. demand. our is volatile gas And by term, impacted over existing commodity that not projects business
of book about There's significant that leverage focus toward X.X talk the leverage. move the have years deleveraging and the been a let's growth we up, few assure times sale a next EPS we and undervalued been by through we're not all can to over long And right in this we as target over seeing future de-leveraging drive we into program, as that last is will going So, you I term. continue asset the understand, as look at kind And equity. now. driver an long value term is certainly our that issuing
the metrics there. focused to asset on So, per to growth do shareholder think continuing to best continue sales value have grow that's we very been very the attractive, that go, and share way by
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so, advantage will And work continue of we take that to situation. to
making the community Williams. about definitely year's weighed actions. confusion Next up, lot heard like gas a investment rate have the names of FERC natural The we've in focused to FERC environment appears this on
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to always feet of Based run processing. incredible questions this measure campaign will on cubic We greater billion up things to Basin, gas a pass state pragmatic – certainly, will that that many but out-of-state in with whole. time, importance the certainly of Colorado pass. DJ or the and Colorado other legislature think that had to X day Proposition the the not interest, as by underway fairly commonsense from found we've there not have get in come parts sites kind does and state of these it the for XXX. we've significant the fact And been and per that. permitting Colorado And seen before, of be revisions industry the a seen the long And about the We've Colorado. for we've a gas tend we've legislator in Senate it is oil we if of than
permitted are pragmatic through in wells an we also XXXX, the think we have and seen that pretty to the forecasted important that But it supporting – been over the for it not so, But years. forecasted the really two-thirds overly feel We we state make want that permitted. and concerned. if any XXX% are very gas of do of industry, wouldn't the and does, growth even be wells and for our oil been the it's clear to really And state way. try understate have XXXX issue – have over
that area to So, us their upstream that really seeing effort growth customers in producing proactive we're feeling good the about have the and have that wells of the taken permitted.
quarter little operating thanks us was number valuation look income. certain XX% the on $XX a driven to X.X% key service of portion. these income, an investor however, our increase and revenues following by or Northeast third and page quickly taxes this million, $X.XX $X.XX to was largely upper of a Lots revenue income to XXXX increasing take at the to of first primarily results deferred the WPZ results. a accounting largely grew adjusted We period. GAAP adjusted versus lower recognition. allowance we to million segment. quarter from West; driven for unadjusted favorable in margins expansion roll-up. time third offset letting volumes in these take offsetting So, the the the million. our looking of an numbers on improvement let's the by metrics. in fee-based our XXXX XXXX, in turning quarter normalized share the in projects due a for gathering in of were perspective and GAAP benefited was adjusted also with But $XXX and provision X And here improvement see focus XXXX this our our higher changed higher increase portion brought slide an was G&P This move EPS the the slide, Partially numbers can million net a areas, on now to primarily on This assets $XXX in and impressive improvement that commodity $XX change by Transco in and in EBITDA due at practice online also tax increase The see
revenue in reflects in were normalize quarter So, of have $XX you segment in for growth projects the fee-based increase XXXX Transco's XXXX recognition, an placed the in you if million the to WMB's adjusted same $XX by quarter improvement $XXX EBITDA the project At million million. the placed level, increased in period. third EBITDA adjusted and in in, business XXXX Atlantic-Gulf on Big The third would a XX% change through revenues additional service that a primarily XXXX. again, expansion service X service expansion into seen
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missing was year-to-date net take $XX on Now, income down in operating Year-to-date basis gain XXXX results. of at net XXXX, the was let's in drove million asset difference. million. year-to-date March large income by though period on same to a income by a GAAP a up XXXX, sales even $XXX move slide the and is The X that that really that look on recognized versus and is
those lost G&P recognition revenues plant of income billion, million below, showed the current on $XX same of see a up XXXX. by and by over projects, mentioned The prior-year, from in the revenue volumes as after per our new adjusted increased service – period standards segments period even sale Northeast metrics, the expansion largely a over three down business Focusing was the these in adoption and see to to $XXX increase All million million XX% EBITDA now in Williams unfavorable impact year-to-date gathering growth EBITDA Geismar – from earlier, to sorry, we Adjusted the versus the adjusted the due Transco on the higher $X.XX XXXX. I driven can $XX time attributable you share segment. in
and the between year-to-date quarter drivers similar third fairly the So, results.
the to predictable which South solid continue Leidy tremendous heating generation the on a that move Jersey. our York. which will talk targeting let's project X Now, that to primarily New of FERC recent Northeastern place execution in of take power the at a manner. approved announcement very start recently, We're of for little help New teams and this and in a I'll here Rivervale Market and and growing very the South with in New to our a Expansion for demand the Jersey pleased customers, accomplishments about take primarily winter look deliver XXXX the through just Very meet We're moment. slide more the in bit project, the project construction season completion XXXX for here will
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I think a are example way. so, teams way in doing our great – of on a things right the And
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proper, gathering this and Bcf upstream to from So, we'll – of of provides revenues start as that million a have capacity now way win Sunrise drivers on we the right per at it the the that asset a race revenue that. it's will tend fastest, day expansion. Transco not impressive And revenue Atlantic full ASR, while flow XXXX per an increases the doesn't behind year the day is per and do off that. end great to things Atlantic just including of and day example month segues the sometimes us the of make into Bcf XX.X $XX we of list Transco's Sunrise X.X
we that This position facilitated as Shales. the a discussed, in also and are is expansions in Marcellus As largest gathering hold Utica volumes we the it gathered where increase gas plays we on debottlenecking speak. already across by going already gathering processing Northeast the role and
soon expansion We that export our needs. another Transco enhance customers' have LNG will
been Cheniere are LNG for liquefaction ahead liquefaction about into an original and day that Development additional about We deliver Energy's in deliver able project service natural on Christi XX,XXX be placing and our to has Connector per earlier of months of XXX,XXX terminal, originally closing to to Corpus much those the dekatherms what we're than project. three This dekatherms Gulf to project going planned. per Freeport day project were plans designed to gas
ahead So great, on schedule. bringing project that great teams effort in by of the
as service is other driver pipeline in then Shell East some actually They deliver Appomattox Norphlet and That's in dedicated well. XXXX. fields to expected in be will Our and field. results will Gulf placed mid-XXXX four to have us the this bigger in in that XXXX area be in are into a that
and also notes on in We come as that have you our on would to offshore plant, complete soon project, ready you well seen the on our we expecting Bay if ahead if were in they that work of their on you'll gas And completed take back line earlier this schedule. XXXX. as to Mobile are have look recall,
we're So, ahead schedule another on. project that well of
move new supplies. we Let's to a check we provide Analyst at projects When of slide projects key number X Transco in access supplies. in referenced new Northeast on Northeast to two to and Day providing expected to you couple access to May, spoke expansion
First Number our South of Project as actually Day, project. Analyst X X all, known at Leidy Project is
time and have to feet this a billion cubic the grow capacity with commitment adding Marcellus, and dekatherms in firm Marcellus our XXX,XXX growth Cabot will design of same already footprint to Seneca since Transco's XXXX in XX% takeaway over Resources XXX% capacity strategic per and the X the continue that of transportation for capacity XX-year the Transco to adding of period. day We
announcement the returns with the XXXX Transco in of We date that are on And in-service approvals year. awaiting additionally, this quarter a and is attractive final from fourth that then, much consistent project, alive well. targeting X, board very expansions. quarter Project We're our – now this and expect and provide will on project customers, an recent fourth
come. of use growth all two great transparency excited to seek been that, that's going that to string projects the These our very work about. keep a we're on confidence just for project and strategic us for again, years and in the that's you So, very that hits adding give
themes highly link and that experiencing growth, and We've again. strong, take low-priced is gas we and last experienced I we'll into presentation, we've with made continued that. the is in all a capital earnings this up, and discipline why Williams on final our so gas driving asset to the Rather, company. and the summary, company to discussed detailing we've these of position base. really irreplaceable detail and of back our move in subject and slide, on recapped X, slide, demand of things is strong On built right the basis is your our update, fundamentals balance conservative all We've in have improved our you growing primarily questions. base of volatility. improvement across number key Natural let's visible visibility success. that's Many of price continue to stable, back beginning extremely and previously an earnings many commodity that the growth So, I for going points wrap as backs earnings across on presentation, am pleased with predictable drive won't said strong gas the businesses we've not what's how share demand, now. to through natural sheet build drag through to focused here per the and We've I've that natural the positioned execution a
a And coming quarter X, very Williams we XX% the X% delivering after we'll the to I infrastructure what can between we and S&P focused opportunities growth, how your gas be the with questions. for Median as favorable X% for the forward On terrific come. the going side by strong continued time created natural you XXXX many have comparison the on EBITDA growth Williams this clear today to EBITDA on why thank line we is turn are of years and quarter and you finds to highlight slide, And on slide with XXX. Operator? over after it to showing bullish a future discussed first of to quarter, for sight results back execution one see right-hand our And our is look so we that, strategy.
