Brett, Okay, quarter our through morning, good we for everyone. first as today joining and great. Thanks, us go XXXX performance. financial Thanks
dramatically, and I'd granted employees to critical have and essential Williams, around start the The things keep the But available remained has of for the thanking by continued take to some of who not most natural services stable, Coronavirus operate changed to remarkably gas the during required infrastructure the have should to us. While us like our dedication world frontline pandemic. sacrifices we
and testament efforts keep and missed lit Thankfully, employees we times. state on this plans we've glad have been beat take country. our disruptive these and plans not most keep to across always to of for healthy We able is needs great warm to staying our granted, during I'm ensure while with execute a the effort have employees the to federal report well aligned these to often our resourcefulness to successfully and and dedication, continuity, maintained homes basic and a safe. guidelines our but extra business it took we available robust energy
let's oil in talk closely customers. that the our collapse is this about is having at get impact the Of on performance. monitoring news hand XQ the prices, business related other that and 'XX story to big upstream said, we're strong the course, our With and
we've as of view see, a provided can performance first this our XQ and really 'XX relative financial a X, Slide to you good On was of quarter clear quarter. XXXX
to continue growth measures enjoy despite step down. impact deferred key recognition commodity steady much the margins We lower our across revenue of and
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affecting metrics and on key XX% all year-over-year on adjusted issues per course, DCF our impressive and the next share continues in up but to discuss was DCF unique the a in this well. basis. drive of growth drivers detail adjusted more business slide I'll EBITDA as an EPS impressive And
ratio by coverage on established X.X% also we growth We dividend X% that year. strong continue this growing of to very top pleased our were the earlier
quarter in X.XX growth another nearly million driving performance expenditures. DCF $XXX point paid our coverage means or data the cash in million reduction dividends Our $XXX times exceeded strong by first flow a ratio capital was XX%,
our expenditures dividend versions growth Williams and cash dividend, free of account, $XXX alone, spending, different million growth the into all the and DCF, as in generated capital there flow Taking expenses, lot strong all of the this a disciplined of free after of cash capital our real flow is the out but cash growth quarter these this well. items of
first our further These quarter. times the to ratio for adjusted EBITDA reduced X.XX to debt results financial
end X.X since way of leverage the of As of the then, this times goal our ratio have up to reminder moved we the times. term this ratio XXXX, times important XX% longer stood we've and that at X.X nearly several you at reminded
we resilient cycles intentionally and our performance. today's through have business built of We is us to market choppy be variety are pleased a that helping this certainly waters. with And navigate strategy
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quarter results. to and Slide discuss X of XXXX So main first let's EBITDA drivers the business move our adjusted
reorganization in to dive internal to you we this for have drivers business took with the that into remind align disclosures quarter, effect January. want Before I our segment that our we transitioned
Our Mexico in Transco, Stream. gas all Gulf and Mexico transmission of into Northwest and natural Transco delivers Gulf Gulf regulated deepwater Stream our of of Gulf that post includes transmission operating and our now assets supplies area pipelines
standpoint improve to to will Northeast but leadership of separately and and cost from allows change operating areas are We savings gathering of those integrated continue and evaluate West the processing overhead our efficiency, disclose and across the senior performance us and that the GMP now business. all alignment, and segments onshore
the quarter gathering which just the following we we Northeast in the said. period XXXX, same of now associated XXXX that in startup compare and I'll growth of represented a Atlantic great Sunrise was chart period on growth that the for EBITDA Slide 'XX remind and to looking X, at XQ quickly adjusted So volume us, the you first
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flow recognition the of totaling deepwater $XX First These reflective items Gulfstar and cash non-cash revenue assets. both million, these not deferred Barnett are the from of and ongoing is impact are platform. the in our lower the
this decreases due to of We also commodities value of NGL and line-fill quarter NGL decline inventory of and saw XX impact This million values. was in in to storage. the related write-downs
we sort see a movement directional and that market very would are we that this on by exposure NGL is March, XX. in driven NGL prices recur, our to inventories of drop these already the of price for business, While have marked to continual prices prices these from charge clearly part low charges of
course this of quarter. equity the from the NGLs that and sales inventories line-fill, was the storage in inventories and include actual repricing that we of the our just So marketing and inventory. our not This we the produced had teams our does
that with looking with above to of answer way our the the add year three of adjustment at is operations run of in provide next guidance. for we primary billion midpoint balance the to annual to and would would saw XX of the Another this rate for XQ back the what quarters, 'XX. the to an be inventory The identical number pricing X.XXX of right this the would down us valuation be million and question
low how and very costs not that our maintenance here pleased and To continues repair were be think and execution assuming this this through the we the balance analysis fair, I we're But had quarter, are year. highlights of we in the quarter. with first
after dive let's drivers. touching So the issues, into those on key
fixed primary that the you on May First of of recognized know, revenues, ended was for drivers Mexico you we've in with of Gulf several platform, fixed platform segment deepwater of was the of the coupled on that space. payments payments Gulfstar last which transmission end And, that all, the actually our reminded year. times decrease in
a on is, in this so normal then we'll this that. have past And about second hear quarter bit comp you'll noise a and little
Northwest of Transco in the Market Gulfstar, $XX quarter expansion up this and This first by gateway projects Rivervale was Seattle the Beyond from transmission of to on was growth from the change project. Gulf and pipeline the Mexico XXXX. million driven revenue South North
case rate there. cost our on results the and of savings Additionally, benefit saving include operating teams in quarter first EBITDA Transco cost XXXX implemented late settlement, XXXX from the initiatives increased and our
volumes was X% adjusted year-over-year, up the that XXXX. $XX in mostly Northeast Hudak Lastly, driven 'XX are the services of total online Gulf second providing in EBITDA, of we next, northwest pipeline we already projects higher this the processing came handling from assets to and put this, and second gathering service volumes saw the new deepwater a million half drove and And GMP additional half gathering, that East we up gas in that revenue, lot there. in and were of liquids by were we're
growth. you a on Plan I’ll Ohio Ohio volumes X% the the with and Northeast to and gathered the area. also Midstream Hub consolidated Supply the by EBITDA JV remind with from Northeast primary contributors Valley contributed of that Board, adjusted Investment relentless we Total that that Pension Midstream, cost South, Valley XX% then containment operating focus grew Canadian for Marcellus along is non-consolidated with growth the Susquehanna the and drove efficiency This have coming
EBITDA EBITDA $X.XX resulted per gathering this in This volume gathered and realizing segment of Mcf. performance
our - $X.XX and $X.XX, at we to Day out measure now long the So that the I’ll that that middle we for when Analyst we aspirations about, you, remind to our talked XXXX so we up back range laid was the in wind then you of the about term range. that just remind so that's area, talked
have really, back to $X.XX I So from $X.XX then. really we're achieved around that recall, I that that I think and as think important thrilled move - measure was
So as drive unit - continue increase lower our costs been costs team really to our and unit impressive we've efficiency move that to by basin. in the able to continue
going And costs of really that us though now do Of we're basin. we drive to competitive continue scale driven that that our have course in low allow a factors have area. further and number and to that there's have the that excited in growth using to is to advantages this
barrels the here driven in on mostly quarter. $XX non-cash decline margins sold and lower equity the substantially million. the write-down. the remained real story NGL adjusted down on commodity during Volume is inventory was business. the about NGL realized setting EBITDA Moving Barnett lower West steady West, attributable aside to prices The issue our flat relatively by The is
as March and out the natural picture. just So, move natural a to wanted viewpoint a there this about to call, folks that this. on around markets you lot so looking the wanted on gas direct demand gas at have to stories and little on give talked the We XX of to our now I'm in we demand, bit update going I Williams different
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continue gas, As more the access cost this see capacity transportation energy to invest the natural of low need and to users benefits clean people gas more in will consuming source. reliable consumption abundant end and
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remain our business long U.S. supply term further to low we production a As world cost on clean abundant natural we reliable, look and natural out, in for extremely demand hungry in strategy gas based that confident value gas. to provide energy for as
the to drivers of price focused So current of the but our natural now, all we investors with collapse, dive assess. some we'll we key low environment won't of start to how risks ourselves find price. now of distinctions these the price the the let's the drivers our in gas oil are extending of through the opportunities turn into on of and and out works market of we now. I’ll lay oil areas business trying I know low the lens and some drivers and between investors are believe
business here driven years, everything. is commodities, demand driven by years gas prices last tremendous driven are and gas have been price demand you in in XX% abundant, a Confidence three When natural the distinction Low growth moving natural have enjoyed. latest this destruction. supplies demand primarily of that cost even clean oil by of than and collapse in continue. for over we've the growing the demand consistent these has we seen faster supplies will growth low existed The have few now growing
oil refined prices other lower volume. hand, lower products means for demand the lower and ultimately On
gas So to that gain from decline, to the the Eagle price Bakken, expect for share. gas expect supplies? With mean what associated oil market Permian, and producing collapse, oil basins directed does domestic like we Scoop/Stack and basins Ford we
prices, As supplying will filling the in new oil at the the associated decline producers flowing of the well their began in reductions gas wells production drilling to begins This we'll storage to continue in of and unacceptable underlying decline see shutting some selling completions market. void avoid in number accelerate. production show and as large oil oil
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and to Gulf not primarily price oil oil is Our immune by Mexico business of driven risk. economics is
business oil it scale requires to given by investments multi-billion business. multi-year reserves. dollar a view term on producers versus The long required onshore very is However, large bring positioned very deepwater the uniquely
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do term Williams remember but costs the shut-in. will during expect production, of significant fixed be of by production volume. away bear the be which don't go a significant from deepwater that most that producers, we impacted in shut-in when near producers Mexico not small Also Gulf operating some to
they occur So offshore shut-ins production therefore be the oil we'll expect of U.S. duration, we here shortest shut-ins see do to if some that in the
dramatically on for the concern focus with customers, and terms the a customer NGL of lower our practical come not paid Along the so our oil our has getting prices and counterparty exposure base moment deserved for our contracts. of with let's well risk about
in simple important much important you and the transmission variety to extremely credit ways provided haul than the gas our exposure services serve transmission any and number designed to of were are that to do get a really for very beyond breakdown of there the rely essential GMP over to about at look to business, business. is look counterparty wide credit the it's and a the term utilize perspective rating long assets the of pay built business ability our a your we in in being very you the our differently different markets, nature assets counterparty quality of customers. think a From gas for. on and where Counterparty long heavily We that capacity gas we the
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customers real So got issue we lot about that you great just hear us of lot and I and acreage concerns during dedicated drill want dedicated to acreage this able is that's for see great a what would being distress. we us but real our to that's financial debt on we that impact of adequately the capitalized there the us to out bankruptcy tell we've the whole
at is yesterday we our is afternoon closed quarterly $X.XX this and our attractive build financial $X.XX which we conservative to That based through We painting dividend financial That offers on and $X.XX of The policy dividend shareholders. $XX.XX. X.X% and which performance into very to of discussion drives and that a our dividend stability predictability process been one a pay an return value yield. annualizes predictability. picture on bedrock allocation capital have a a far so stability
capital very of yield is large that its and This spending as one well. more also infrastructure is well covering than WMB very attractive players is growth covered the few
this of cuts talked spending to for already budgets, of very making to year cuts as in capital as significant capital hard last sheet. tightly the improve scrambling reining cut couple this travelled been over year-over-year they to we've about significant our have our have we've growth CapEx are to working been our several now our much road past balance years. of and Many We years, the peers
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a credit Our spending our stable but believe investment capital financially risk We of our sheet rating the us keeps is equity driven of both investment and grade and disciplined flexible very and eyes company grade equity the down, strong cash in operationally. have credit important balance flow maintaining and investors. metrics down to also investors, prospective cost current reduces both debt the in of leverage,
do on of focus to the positioning And remain we EBITDA reiterate this maintenance term expect the lower of while CapEx well. long growth adjusted unchanged I XXXX come as do want guidance slide, both end to for range company but mostly the the on on our in ranges at we and
Regarding of from adjusted about guidance at our and primarily is DJ end volume EBITDA expected talked coming we're NGL lower Basin, lower basins experiencing. much in towards oil range, the lower driven the the being that, by the margins earlier, we currently than end lower see that being the the we of range
shut-ins drilling. have We in increased prolong assumed dry have not gas our oil we basins, assumed nor
quarter will to this low degree of enjoyed continue other that hand, don't year. first the that expenses we We we in assume maintenance same on the enjoy we also the repair of and
our long And number so right understand I far pro a do you guidance want make the fairly we think as see as we not we about expecting for so would of we but pro tell sure - shut-ins, laying long shut-ins, there here variables are one scale XXXX, now. talked wide you a about those in minimal as or to we out
we as well. we of don't also in as half last the might year uplift that the see have mentioned We the
activity, CapEx in gathering of which been and expectations, CapEx for our reduced on projects lower our need Moving lower on producer budget to than performance the able operations. we've a has due CapEx reduce to execution, as lot to as well
come the of total low-end could As below a spending see our range. now guidance capital we in result,
a forecast to NESE were project small we had previously only as received the our mentioned, However, we to since capital amount necessary of permits. capital in we for project allocate very until our not going
remain that mentioned CapEx will the at approved us will other NESE this if June, allow as end soon low range. confident the to our and guided We of be as happens be reductions ultimately still
So just would clarify range that, here low - still to fortunate expect we enough as moving get we soon do be the CapEx to for June. of end we NESE as are if the at
hand, other guided we don't, below the out the CapEx if On we actually there. would come we current that have in range
we closing, challenges model demand well the term in our strong In is gas in the growth very term, ahead. and over well to can business us competitive from positioned term financial the near our while for believe that's growth and long the us resilient deal that position benefit business that market, continued a very makes positioning with natural conservative long and strong
session, Q&A go to joining thank you our today. transition again for with ahead us let's that, and and So
