John. Good a you, Great. so to with our support continue well. everyone. bit macro strategy start little morning, conditions to that Thank I'm going the
'XX put really starting we overall it an demand low to to think of is is by the top well what's gas the So really and increase a also the gas ground at now ability world on occurring, demand remind to natural U.S. top of such at top for our of to how increase -- really we demand is to you we you, all take X% growth. I'll in to in that's forecasters on what of just continued natural it the most America, starting as XX% 'XX on U.S.'s is driving North cost. gas demand. is for on perspective another a we advantage saw focus out you that's that growth get -- But I try about you, as if And not had of big but in strategy demand demand of in what expected the actually have saw happened that our accelerate happen, so and if as and we look start expected which of growth
So about had we production is increase that to it's this increase that just I and XX% and Permian can in all that dry to XX% XXXX. in to gas greater think that all was the of the helpful year, perspective than something we put relate that from think
than of in today. So coming all just we've out production year, here of gas the an the dry one greater that's Permian increase had
So the demand growth is our very very supportive. to strategy and that be continue important to we see
at report in better happy even with backdrop, came So than as gas indispensable we of the natural key year metrics. guidance our that once top I'm this ranges for again infrastructure expected portfolio of to past this financial performed our
In record XXXX while, the and all commodity need past for the years these funded fact, over two asset face our billion we even over issuance. $X.X past And for we adjusted EBITDA without continue to in sales transactions equity totaling achieved an leverage than all-time the our WMB. exposure years. continue metric reduce the more improve to growth X.X of in And the for
by impacted during in X%. records on also week. XXXX, recall, we've XXXX, the as our prior hit setting again record Pipeline So you last started record we annual Northwest XXXX throughput, in cold And eclipsing equipped markets record may all-time delivery once now, an Transco, the that for which snap
reestablishing important execution investment-grade a rollup credit. on the the WPZ demand seeing So with this and transaction, of Williams our on up all we had showing a timely are impact pipelines, simplified We critically as increased obviously. C-Corp crisp
service and expensive other environment, continue permitting overcoming advancing make And recently, great the Transco to Atlantic make Connector. like generation to and Garden Sunrise, a projects gone Enhancement, saw with placing we State, the Rivervale highly that challenging and contracted continue several Supply fully regulatory we've next critical of growth. beginnings projects like the Northeast Transco progress Southeastern progress Trail, the in Transco projects public the Leidy We South, yet. just new South Late market, not accelerated Gulf G&P year, and Gateway to we of Northeast
our exceptional many this cloud takeaway for as Board to basin. in continue ESG from We disclosures disclosures to the off expect two come project expanded with Directors our ESG the to of lift 'XX has appointments. new further strengthen further begun on We our years website, finally kicked our expand to and
well And others price capital exit opportunities XXXX. in was despite our And of guidance from predictable we in commodity up exercise for to the the our has reaffirming And into entry continue position. discipline, like many optimization our May XXXX. strategy DJ begin here passing business gas value-creating Corners now increasing importantly, Four we we again, funded are the set positioned legacy growth XXXX here year. portfolio volatility once continued last through low-cost that on We markets, our which but further as for executing are we in us natural today, provided liquids Basin,
and 'XX a with at our XXXX guidance. busy versus versus Slide performance look quick for our take -- at that XXXX, a closer let's So move financial back very X to look
year see can shown we that to relative Slide guidance how Here the finished you XXXX X, our on ranges. we've
showed net Barnett not that EPS. guidance range. for of was DCF strong the back and you on at EBITDA our growth all that we adjusted accommodated billion GAAP our coverage of our exceeded in affected plan a adjusted in midpoint of of dividend when gathering high our adjusted performance was the impairment can high EPS, end was our $X.X by our large ratio that end made see system, guidance, income strong the assets guidance, selling guidance XXXX XX% in and at XXXX income Despite reflected over which net the Although
driven capital out now CapEx came spending and guidance that 'XX growth in our by about was under of that million into 'XX. see can shifts $XXX of You primarily and
So million with to 'XX moving $XXX guidance, at year-end you'll timing when respect with And leverage 'XX can to X.X. of finally, to we get that you see leverage, which an uptick, from was outperformance the our see nice a just 'XX.
So financial good 'XX, improving and performance case was once in our predictable again, was balance while compared our where sheet. It on delivered quite as flows year we to as including the the another steady, guidance. growing cash was expectations,
break drivers and for Slide the the on down move slides, couple we'll X. next so fourth year, performance our quickly to quarter major the let's of On financial the of full
slide, upper comparisons were year-over-year at by that our the portion fourth which First, the GAAP some we quarter the see adjusted on looking numbers accounting been entries, affected of large non-GAAP. out the of have
entries related sales. tax year, we in a this revaluation Specifically, reform. And by gathering positive large gains had XXXX, large on we offset to somewhat accounting our on asset have some system, Barnett
of XXXX, adjusted lower sale changes than portion if slide, that nearly system. at Corners up but the you EBITDA see in a Looking the little Four normalize of X% was billion more the of the and $X.X for we recognition X% our versus EBITDA up adjusted revenue
increased were recognition increases offset somewhat $XXX in you adjusted lower at Four Looking then, which Corners, EBITDA our almost strong in once by Northeast can quarter loss million, a our the gray, adjusted of bridge for the shown changes the where Atlantic-Gulf revenue and segments West. in that are see the and
by see of growth adjusted in led about and and the increase numbers respectively. volumes, good was great driver, XX% in the area the Northeast area, the really also Northeast it's So Atlantic-Gulf saw Marcellus as saw growing to for Atlantic-Gulf, EBITDA Atlantic Pennsylvania XX%, well. a increases Utica but and XX% we and Sunrise by Southwestern big course, Northeast in
mindful look effect that Corners the pretty to had the for results the gathering our West, So as you sale of we dramatic have on at reported the volumes. of be Four
volumes you'll specifically, So at that volumes from analyst are and package, our the you that from down full XX% XQ X% look our XXXX see sequentially are down 'XX. gathering about if about year West
Four 'XX. impacted, some and the X% However, have the that we we year-to-year offs down flat of quarter fourth course, was 'XX. then Corners are here exclude the freeze in Wyoming of if And did of quarter only volumes, in versus third you
quarter $XX of the of of the business, to to product drop value about EBITDA value The for Additionally, quarter every the near this West. inventory out in this quarter that the for by another and driven hold fourth [indiscernible] the primarily related from comp changes we was one big 'XX another. driver marketing which the mark unfavorable inventory in we to swing market of NGL as our million in West prices
prior slide year the comparisons. slide, entries to and let's results also GAAP Starting the we the accounting driving upper to X. XXXX now that in So in with the Slide discussed we the turn large our portion of the full results see year-over-year are go
assets gains the of it little and tax impairment entries of performance ongoing again, on the So business. entries, reform to make a see sales tough
let's numbers been So at where look the these items adjusted excluded. have
off, EPS, highlight that prior in year. the $X.XX XX% grew growth I adjusted First the which in again just from $X.XX to
rules EBITDA bridge sold sold lost assets and changes of see you accounting in loss we from the the the adjusted in at EBITDA we on the recognition from EBITDA, gray Looking assets Four of in Corners revenue the effects in Geismar the XXXX. 'XX,
$XXX EBITDA our from adjusted volumes segment and 'XX. and million, 'XX more see for Growing a for increased year in again by Northeast higher and the Atlantic segments. a driven So you segment all growth in Sunrise, came again, EBITDA increases other Utica results by Northeast adjusted the assets, in that results. the lost our on drove Atlantic projects areas higher but recognition little sold and changes can once than Northeast strong revenue driven was that Pennsylvania Atlantic-Gulf also number a the drove of Southwest Marcellus The partial Gulf in
recent strong more execution, and So to some recent slide This strategic the at level. successes, permitting operational demonstrating transactions excellence Slide and recap continued the of quickly on business showcases and significant accomplishments, X our corporate now let's developments. move project
It's Gulf Mexico. outstanding Gulf an in some as done deepwater have and of gets service, Appomattox to Shell’s I'll project the key great the Connector and midyear Gulf Eastern up bringing Sunrise new on deepwater other serving running. see list our Atlantic Norphlet project job that the Transco's teams builds One is Our volumes in projects. expansion like coming the our major highlight project of in projects Norphlet
execution project drivers the growth the our squared risk projects, 'XX of that With majority of these for our behind away. is has completion been three
Transco's recently, assessment by time for the And Trail Southeastern of in needs of from hurdle another difficult most So gathering demand driven XX% primarily its Northeast for conversion New expand of that to our several New of advantage incremental existing ways fourth despite this FEIS. step FERC received receiving will to heating And approval permitting was Susquehanna also the GMP volumes FERC. Long Supply winter. as the pipeline Operationally, right having have a Pennsylvania. is that a critical permitting increased right hit expansions a was takeaway meet Transco's FERC quarter oil help at great growing the Northeast environmental was natural existing of on front, our This for places. seen fourth of Jersey all City 'XX. example environment. the progress to support of as areas. cleared tremendous segment capacity gas York Enhancement we the gathering clean of burning milestone, gas for project Island This natural quarter to our Gateway in Northeast 'XX system well and XXXX another expansion project and York New key project by
will We to growth beyond. volume XXXX our and Northeast into on systems see continue
lot set keep delivered Our mark on setting million January gas, X-day XX -- reminder across expansion transmission XX of of of safe XX.XX Pipeline of behind Northwest there hit are role record our new want year. a certainly mark It's that to scenes XXX of to have take a working takes Williams. happen. BTUs. of recent Americans delivering and Transco also from And trillion here frigid it record simple employees make all-time dedication, an a to an play task XXX are natural dekatherms a Transco that from vital and delivery millions And our this X. and in that February January annual gas I records, The not we speaking natural trillion versus employees of to day pipelines amount the Transco of peak the secure. important a its BTUs at the the conditions moment annual great of also the to record recognize country previous
on around our to job as Northwest the the for manage outages major coming tremendous a our they that Northwest in well overcome able we're as team So from Canada in residents and third-party area keep supply as heat and pipelines well. some in
Bluestem yesterday which we the announced our afternoon. Looking project, see down list, you'll
project look all this really premium the Slide to strategic new supplies will partnership got exciting project, connectivity newly take strengthen Bluestem. Gulf great between Coast move new X fractionation about provides Let's NGL expand which our Western a vast NGL on announced This We've transportation and at this some and to slide detail business. good closer provide to and opportunity markets.
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a this incremental DJ project. the growth, the Creek for offering Springs, from of gain as Opal, Additionally, while and expand our us GMP revenues platform in also downstream an for targeting Willow a quarter we Basin, date business. long-term systems solution creating XXXX this delivers to in-service our NGLs new first the of Midstream infrastructure Mountain for We're Echo Rocky opportunity our
Belvieu. Additionally, fractionation X I initially an this that with Williams would a option or to in point Targa's announced in recently in XX% interest new of Mont connection X will equity project, have one train also out purchase
aligned Mont the is well in and customers in offer to between with in attractive goal offerings be assets to and and of collected the maximizing in Belvieu our value Targa Conway piping West. our service the processing Our to
on will guidance. in investment of $XXX now our most expect that that the logistics XXXX. And be let's occur financial will NGL projects next -- spending million, in We review slide to move these million our with $XXX to to to XXXX
XXXX discussed, the financial expenditures. are we growth our exception reaffirming previously we capital As guidance of with
has much course, guidance Of last changed we XXXX issued originally since May.
Corners entered still very now scale development. customers. stages Four stability natural the early continuing and XXXX and key decrease Specifically, into until large in environment there of our here strategy point where producing system we crude and our that hold operate our Basin its and our we of there has a system continue was predictability to DJ portfolio we infrastructure-focused lower sold to well in August from XX% and we of the Really, course, customers, expansion the is that our the guidance And saw even and NGL prices year-end. producing gas pricing optimize as allowed in have seen the for
and us. our much earlier, risk result, Connector for now execution unchanged facilities, completed. financial is for XXXX guidance Gulf ASR, remains a put and project mentioned As the performance I crisply behind XXXX already our as Norphlet of all
$X.X just 'XX about the continued very into billion, the improving string saw timing And spend our are the last remain we will we fund I pursue XXXX has to billion we of cash discipline much that our range To metrics. optimization us strong continue guidance of of that a $X.X focused of of like credit flows side we growth billion that growth that's amounts I and capital The transactions exercise to 'XX. So will and sales some you didn't needs. and expenditure shifted previously shift mentioned, to our as on course, to asset end, in thing in to allowed got portfolio equity revising from of capital is $X.X 'XX. capital say really
the Williams. Transco, on your a highlights we'll We progressed on wrap up, look we've forward XXXX. a that last XXXX, infrastructure year this in beat to we here take guidance, company, our to slide, a ever Slide was Also last update, of mind important company we our natural on on the slide, investment-grade continued the the laid last growth. simplified and this gas of On very of let's demand X, just portfolio. things for made a again some was move few then the strong and largest progress to for summarized and out in questions. So with deleveraging which where year slide, project returned from It C-Corp another year optimizing completed
We flow our look can also cash deliver stability showing business when forward to are predictability during volatile times and and crude markets saggy. the
there. DJ our great continue Mountain Basin, opportunities thanks work themselves great our on to the up are customers closing done We well the of in in be the of with pleased Rocky the team Midstream a job that establishing has areas with to we
year will but not commissioning you at gas nation's the you [indiscernible] of Northeast of and forward the important the and the gas As this our for collection support X,XXX for fully to we'll the of in new natural to will projects aware the DJ. and an open activity entering volume an permitted additional fastest-growing we We Transco opportunities advancing strong as two forward in we example, new our look well, services largest year one construction starting are near- other expect delever. is to dedication To basin of And agreement services to additional is DJ. look where that opportunities progressing another introducing which trains just be And stage as to up we pipeline, have processing least, acre up and the this processing a plan. growth. and new and we for to continue expanding long-term gathering executed GMP gathering to in is that and according year we another development, last midstream
Analyst to and plan, to opportunities, to this support in excess the finally, move Analyst of want we We follows of our August. the let we'll reinvest new will May but time continue is This board the activities the look making I which make annual allows to something of frame flows effort that cash that taken is pursue into major portfolio annual delever. And -- this our major session, at growth Day, up Day us to our this through we've will you be of year. optimization in also do timing later know sure to also vigorously our shift solid forward from a business a driver really which in execution
to roll our So we move session board guidance. from able governance to right simplifying to annual strategy internal a into be nice process think that's our and
So and with over that, for let's go it Q&A. ahead turn
