poised about in Back which even our we an today. XXXX, quarter was conference you a February morning. in hard that Good moment. call for Tom a first all that ago. results We better will breaking the in talk XXXX. reported three join Thank will you last February, months see were record only It's to the for taking to believe time us in
how we And It's threat our people live, for by now in the changed where schooled changed all work. and world. over all health know, public and children posed are as the the for March we we then COVID-XX landscape how how
the the global already difficult actions the has situation the stop plummeted, oversupply to by resulting place been economy in markets impact spread sheltered the OPEC+'s and energy around demand and and was to world virus people of demand exacerbated on unprecedented. side the As that
With the update NuStar that what want in been I months give the for on you on to year. an what last mind, over we has happen you remainder think and of of the idea will focused two
to Since our to communities three to business pandemic our been of the critical families, energy and storm services our access to have country to needs the goals weather protecting improve. conditions as benefit by position our supply primary continuing the are in our start the current goods best and protecting the their and protecting employees we and to ensure maintain
and continuity In since we plans ever implemented remotely March, workers working business of majority the that at. vast our been office our have time
and San here headquarters Our so. nearly home productive in highly doing has while been might from I add working everyone remaining Antonio,
the proud giving our practices by to they distancing one work employees we do their XXX% report protective PPE continue do For with to employees these responded keep as to continue energy flowing. they challenges our nation's that to have perform as functions always essential to acquired those I'm to on their safely. presence immediately provided and our site, whose physical instituted them of the job
our and is assets that critical for employees Because NuStar’s COVID-XX. continuity I'm commitment, our communities grateful this not only for for crisis beat serve. missed that employees business to day none tested our of truly a throughout positive of also the not our business, day has but that
including U.S. energy sick and But no our energy important during no employees single to contributions it's handle a and energy energy provide for the know take to to to in that times easy component we the investments that's energy its so whole, to would lifesaving hospitals, of without transport these there our the unitholders make crisis. nearly to transport efforts like of granted. power equipment for industry been the Sometimes of be care to are the this facilities, critical health every used individuals manufacture no the plastics as
Back and the preserving spending, balance in we by addressing also maturities. began to from our our brought by protect company near-term March, strengthen sheet reducing taking the steps cash, debt changes COVIDXX
our $XXX approximately we $XXX XX% XX% releases, spending. million of XXXX to capital approximately $XXX As we our below to below XXXX XXXX midpoint strategic the which or lowered previously reported forecasted capital strategic reduction is for spending strategic in capital recent million press range million to and midpoint spending,
million also identified the $XX reductions and year XXXX. controllable to of full $XX for expense million operating We've
In conditions amount as XXXX addition, prepared of additional reductions are we scale we've potential warrant. back identified that significant to make to spending in a
billion March agreement On XXXX. three October and of address report weeks ago, X, liquidity About unsecured also near-term Capital Oaktree into revolving runs agreement entered with now our we that $X unsecured L.P. to to a facility $XXX million our loan and maturities. term increase we our credit Management, debt I'm renewed through year two happy to
down This transaction not to our used increase our we initial revolving the credit $XXX rather million did debt, pay proceeds agreement.
$XXX to flexibility; million, enhance the XX months, down option necessary, an our we if to further next the additional During draw have
distribution last $X.XX NuStar prudent of that our And, financial and step term to unit. necessary the an flexibility it to the but was announced was quarterly has the these market near we through reset assure That to not navigate week, in conditions. decision, per reduction difficult
business and taken the the weather actions built is credit-worthy because our in also last the commitments our few diverse base, NuStar that of over two resilience believe conditions months. We years balanced the last to customers, to we've in our decisive from asset the challenging due current positioned we've
have pipeline our XX% At NuStar of storage customers regard generate higher similar in revenues. and segment our we support, of times like to because assets. even investment that is out of around With credit customers, these, customers XX% segment are provided we from to or letter at revenues grade credit or of best fortunate either a class and it's stands our are over
it's rebounds, back we work over world product next recover course important With now demand, understand and pretty at oil. months, our regard the normal returns to balance segments about than important XX-XX quickly. refined and refined and few and products to demand activities storage the is production then our balanced XX-XX After to That we should relatively are of should between between because demand crude evenly balanced, about for refined price pipeline the begin that and more assets products crude ever believe of well. as bounce
all products refined due we heard XX% shelter-in-place and in negative to geographic transport places the demand April in by hardest location have COVID-XX, declined for the some of our that While pipelines by mitigated directives, products reduced to impact. the assets coasts, have our of refined the demand hit the XX%. east products and We've west
pipelines the our some refined and have country. is end centers. fared the the Fortunately population more more population not These center coastal as are They're spread of better. located products out have same rural, the mostly areas the in impact of the suffered users
refined to mitigate Also products helped in demand. effects has system falling of the the our of mix
fuel, refined X% only jet little the products. very products of all hardest we transport. X% about all to the It's transports refined NuStar example hit For of the
have West rest orders seeing expect improve Central Now we've through our systems through and its stay demand the low at what see on of we're April. we let me as the number about in home On most walk the you seen our system, We're been starting XX% in year. Texas. what to at point decline lifted that
low was even decline In well. East distillate And South located. see Again, population That holding is gasoline held Midwest, well. we down improve has that point around On me, we've lot demand pardon about very demand in a seen declined, the number system system, XX%. of its Central gasoline our agriculture distillate is less Texas, XX%, where the steady, while up expect serves at has that to system market a demand. while with rural as demand
this agricultural is very agriculture Speaking demand, year. our near as at of line record is ammonia strong demand levels, again performing
the May. difficult up then the recovery returning through and in typical we to what summer the beginning is of level the COVID-XX through XX% remainder demand that steadily uncertainties of ramping economic June, of in forecasting associated talk will and demand We assume given similar the at project I've through Although described year. about today September numbers staying impact, just and
about Turning X% quarter the we about over prior robust Permian, during up last fourth Permian first a average through an day per quarter our to to as the moving the the Activity system XXX,XXX That's April day. moved barrels month. XXX,XXX remained XXXX. of barrels pandemic of was
Basin Permian on XX%. our seeing rig as of counts down May, beginning is year-over-year, come are whole down down. while we At about were the XX% system rigs However, a over the the
to growth fact lower due other as outperform its rigs plays. the than should relative We that Permian, assets quality the our current to although we depress acquired system core the other Basin continue systems believe we the not shale of to has other expect higher our including our but and Midland production Permian in near only conditions in advantages, in product any also shale core of term the gathering plays, number it, the in since production geological to attest costs temporarily
It's decline XX% our per talking system, versus in exit about expect producers XXXX December to average. all about volumes barrels context. important in to we this keep XXX,XXX on our After now with a at day, of
While crude of we adjusted only we a focused system, in EBITDA. about the the lot system Permian our total growth represents the expect XX% on
have April, back forecasting are Elsewhere we to the and Eagle on held for through but year. our minimums well of Ford systems, a half volumes up crude March decline remarkably the T&D
we Permian those with that the continue MVC forecast a crude exports, recall Trafigura and have substantial levels. take-or-pay regard to we agreement at to you'll revenues With
to certainly last, segment. our but turning not And least, storage
storage I As of storage revenue. XX% earlier, about in pipeline mentioned our represents
segment, have barrels counterbalance the which that We to challenges which serves as a time capacity, are this. we fortunate at to pipeline of incredibly a XX like near-term the valuable storage is million
markets when them are as the case, which As is the demand storage product in storage benefits future, are crude segment. to currently in lower be asset for and our contango, prices you the would the expect grows, than market expects when
across on weeks Since storage XXX% are development extended has leased. customers group signed Up on business and and leased our others favorable contracts locations then, hustled new terms of storage. until a usable and about our number a few with we now we were XX% very ago
that $XXX previously along with volumes our of resilience of rest to the I As X% a the to business. that lower between XXXX midpoint work hustle, midpoint than and and speaks which takes expect full EBITDA pre-pandemic actions the of year and puts result described our million, adjusted we and I've outlined, million less the to the guidance. employees of $XXX is This than our generate
current our customers, based consider to we we've but COVID-XX, gathered utilization we've with be what unknowns seen from of realistic forecast the third-party our experts. projections lot a and still the trends our is There on of in
to on that, to I'll some Tom you first strong With our quarter XXXX give more it outlook. specifics and over our turn
