senior by operator, Energy good really welcome you, joined everyone, you other McCrea, members of who well issued we website. afternoon, to to third quarter the earlier afternoon, as today are also Transfer the the help after slides questions our release I’m your management We our us to remarks. prepared Warren, press XXXX team, as Mackie posted our Hopefully here joining and answer Thank today. you saw this and Kelcy earnings appreciate call.
and be As coverage certain all cash a detail Act in for reminder, forward adjusted third our assumptions quarter available on to and refer measures. Report or upon XXXX. flow, our are more DCF, within we XXE based EBITDA, Securities are will the the Quarterly Section meaning ratio, to information Exchange Form currently I’ll of of current distribution statements the also making of which XX-Q us of non-GAAP beliefs, financial as distributable statements well are These XXXX. of discussed in looking as and
measures You’ll website. our find non-GAAP on a of reconciliation our
basis, flow we excess capital our $XXX $XXX cash third tomorrow million. adjusted approximately growth distributions DCF an of after our DCF had be after expect to as of a we Transfer excess of the adjusted, partners X. was to EBITDA billion. of incurred and $X.XX attributable highlights, filed XX-Q with Starting few of And million We $X.XX and billion. quarter distributions $X.XX million approximately generated November billion On of $XXX Energy nearly
distributions cash forward. capital excess going growth significant and expect flow over the We
earnings half approximately related Our $XXX which included items. million EBITDA was third uplift, quarter about of to one-time of adjusted
to marketing other various half optimization optimization primarily our and groups. activities related was from The
basis differentials core highly earnings storage keep and to is capturing of asset utilized and for commercial our market base diversified providing our significant to weather opportunities potential created in upside team's by One our strengths our ability contango volatility.
during out on volumes an additional earlier third the which primarily early Express transportation Mariner reached Frac ramp VII driven setting Our our volumes NGL budget record systems. volumes to during to East another due and and we of up announce this with new Star of that pipeline NGL our into a the completed volumes were also on And service we went quarter expansion high schedule. pleased our fractionation September, to in quarter segment Lone significantly project stand record ahead Texas under NGL And continued by year.
distribution of investment X.X November solid basis to on distribution Now continue or our proactive a we per distribution on we of to as is common on as be turning agency accelerate times decision leverage announcement, paid $X.XXXX The reduction focus and achieving rating. unit announced of X. cash $X.XX a to of the close our of recent to business basis. This ET distribution XX, record will annualized X on November XX to reduction target rating an of grade unitholders a October quarterly strategically the a times debt on
time. balances increases and or more the that Energy Once to capital. at capital are being distribution market distribution our in and we of Transfer’s we additional additional financial will our mix our come through at the expect step annualized a will be flexibility target, that unit cost leverage dependent reach conditions of buybacks returning unitholders. cap with upon an This lessen significant result billion to $X.X to looking in the analysis down flow directly cash We of on reduction pay will basis debt plan is maturities. create approximately used This and
a of offices company which at result our now our the more field end closely corporate range as underway at the we well are our outlook, EBITDA high of expect come reduction performance at cost Turning our as better in as measures in XXXX to looking guidance to adjusted operations.
drive growth During over and opportunities from $X.X approximately quarter, operational as our a And guidance million original to expect result billion provided and have our efficiencies to less the we further to year last leverage in of than projects this budget. we OpEx budget. XXXX, cost XXXX expect of growth to in now to represents relative our year-to-date. recognized $XXX optimize now third for our under our be $XXX for million assets capital, expenditures capital infrastructure $XXX a identified quarter savings of G&A coming savings we additional reduction and full million achieve And over
to Our our existing including portfolio for and expect the several projects Mariner will we next XXXX East, year and by export projects be other that of end remainder NGL near projects. span value. enhance of the Orbit long phase completed These term consists and of XXXX provide
of growth forecast our $X.X in spend per years and the million in XXXX in million capital $XXX We XXXX. ahead see and significant XXXX will in reduction approximately to $XXX year billion a with
the We Lake new in is earlier decision today. has to respect I'll been. litigation access. now year. ever with the to very highest threshold ongoing. the a stringent by Circuit The walk through the projects and of will for Oahe arguments start is be expect with the case end still on Dakota our appeal evaluation from major recent it Our projects Appeals DC took process our the the of and continues Court for process place developments returns Oral the
and that today. And operate it normal. as we We continue operate will assets, will we remains pipeline to are efficiently. continue legal and to to continue pipeline in positions that service confident The believe like our our all of case safely our in the are strong
the Commission from move the pipeline optimization Commerce open expect regulatory XX, this be of initial of will to forward commitments by capacity phase The project. seasons. optimization move forward shippers volume Illinois now We continue the remaining October the in the service accommodate approval the to was we with quarter regulatory third Bakken for We received required us optimization XXXX. additional capacity late in to approval state and the which on last the with during made
transport be Next, the an providing XXX,XXX the quarter allow barrels terminals. Collins to oil XXXX. connectivity day our to ultimately the while up and terminal Texas fourth Nederland market and of per increase service It to of is Ted between Houston will way is crude to our Houston us in efficient of assets, existing Nederland to from expected link West and in utilization
for flexibility Marcus to taking placing at we're as volumes demonstrate prepared handle strong into during cargoes a yet of barrels Marcus of East record and winter XXXX Mariner increase through our The currently XX% ethane terminal system, Now quarterly shippers at multiple this to with as transported optionality season Marcus on volumes ethane, the including Mariner spot continues highest this Hook NGL pipeline to up average upcoming for amounts for over local third we flexible reserves the with Mariner our year-to-date the to NGL and the East demand strategic saw local our quarter as Utilization continue XXXX. the pipelines pipeline provide propane butane. year-to-date to utilization. well connections and Hook. well by as are advantage handle of Customers markets and market Hook ability system the propane ethane leading butane through to system
for blending the ability bring local early by quarter Mariner to will gasoline gasoline natural Marcus have system to the and our of consumption second Additionally, XXXX. Hook in
add of through system which Pennsylvania will assets. to We project terminal markets. Mariner already bring be is require able system the utilize Northeast of Ohio year startup Allegheny budget We and expectations. Northeast. East in Hook which the the with service late in minimal continues transportation are from included and to in our awaiting with end refined part supply system is pipeline to XXXX next announce Hook XX,XXX expected markets to markets New their our of completed very to to for Mariner to LPG and excited which eagerly this Pennsylvania York the at Terminal in by Marcus projects Also reach the phase XXXX. of ahead expect best into This of a quarter are quarter significant product refined optimal our barrels and East provide will be revenue in and The service way expected synergies final significant to Pennsylvania fourth will now with Midwest day route most for expansion second and we and capital East anticipate pipeline for upstate provides terminal our per the Marcus the in Mariner to the we our in to regions from the in products Access into liquids Access customers volumes the the products the conjunction be efficient be early phase flow to existing the XXXX
Satellite orbit bring be will Belvieu for commercial the venture of the strong from Nederland As on this integrating barrels LPG announce ethane day the completion. Express expansion demand ahead XX-inch Petrochemical in the of our first pipeline expansion adds assets. assets XX-inch Texas. this arriving Basin export Star our year Permian to of of day Fort end I barrels for day Mont budget Lone pipeline per approximately remain XXX,XXX was further project total our of XXX,XXX at schedule. our mentioned and fourth under earlier nearing model joint by NGL Nederland Worth service that to to will we our is of project capacity with ready pleased the This Express call, capacity quarter now ships commissioning. XXX south LPG XXX,XXX over projects with per to per Construction Lone the with were barrels completed export Star the and continues year our
I week community it and a our emissions programs and we company. which performance management stakeholder update. and published renewables Next pipeline data, Last Community risk to take highlights also investment moment reduction our Report activities covers programs, Engagement management want a provide XXXX outreach our our as to safety a
reductions cost are and and reduction We emission our opportunities the carbon to implementing of prevention footprint. including committed identifying effective
to to As Today and a purchase will from approximately XX% improve and originates of grow. year and result continue we performance efficiency. overall in we energy our each make we significant technology the emissions investments operations expect electrical reduce that renewables
power sources. to renewable allow at that of actively by our generated use power renewable to deals continue will increase look We us
located in panels across solar helping approximately Additionally electricity we Pennsylvania Pennsylvania pipeline that uses XX,XXX a country, homes. renewable natural at to electric fired generation we gas company metering own to the power also have generate stations gas
gas low reduce helping entered we ever Our into greenhouse technology efficient for gas drive solution patented compression more natural a Energy dual deliver alternative between first switching a drop solar construction. megawatt compressors our our sources a is XX purchase a have and motors and to power industry engines environmental for contract recently footprint under to XX will offers More clean compressors year economically which by the power agreement beneficial. solar our reducing currently costs to which facility when integrating electric to a emissions. under This that dedicated allows demonstrates energy commitment Transfer
to evaluating capacity our and potential via the J.C. renewable looking We Nolan available better to West bring into transport our opportunities COX to are Texas in the also utilize into Northeast diesel are Pipeline.
and sources services continues for integrate into demand As evolve will energy further our increases, alternative look we when the business ways to industry economically additional beneficial. these energy to for customer
due strong NGL a EBITDA the as third activities. of quarter Consolidated to to third This the XXXX. take as billion quarter for uplift results. of attributable maintenance as increase the $X.XX adjusted $X.XX look for third a of our to billion a XXXX. quarter Products at the capital $X.XX adjusted performance was in segment was the some expenditures. well Now Refined decrease primarily adjusted billion closer quarter to result $X.XX billion and our compared This partners from let's DCF, EBITDA was compared with along from is for optimization third in
to throughput day This of Now sale $XXX venture results the was joint increased and start period volumes Basin result fractionation due was Permian $XXX as same Belvieu. we'll high due NGL for on million to during per with transportation volumes On of third average products XXX,XXX production volumes last was segment, per increase wholly last as EBITDA for compared East compared as the and quarter owned rates and NGL remained wholly-owned the increasing day XXXX. by from Texas both refined our volumes at This increased NGL of million a X.X higher Mont liquids our compared fractionated the primarily third-party and on as pipeline record day to primarily period pipelines our optimization Mariner X.X million to million XXX,XXX increase North fractionators record to components out for third the of gas system year. from higher per year. gains turning the our per to regions well on day NGL well transportation barrels and barrels quarter as with same utilization to plants. the barrels adjusted to the pipelines barrels
increase Looking same acquired the fear lower offset an due crude EBITDA related XXXX well contango period COVID-XX compared storage our marketing was by due segment, as to $XXX and to and in items contributions gains demand SemGroup the as to which lower from to well decrease pipeline the Bakken we primarily as our for opportunities. oil business volumes This to was result the $XXX crude pipelines related as crude from Texas primarily realized million at adjusted a reduced a acquisition partially on last year. were our positions. trading of as production oil in optimization These assets and million
adjusted compared to the and primarily quarter $XXX was of and the midstream assignment due region. was third For gathering $XXX to restructuring in the certain million EBITDA recognition Ark-La-Tex for contracts $XXX related This of of million processing million XXXX. the
as volumes expenses period per XXXX were volumes North the MMBTUs acquired were assets Texas to $XX addition, by per for same In offset volume in in last Panhandle South as in Lower in compared growth Mid-Continent gas operating the year. of decreased region. million million addition Permian Gathered million. the partially XX $XX.X and day day Texas the well MMBTUs
by reduced to $XXX year less down Panhandle which XXXX facility This at have For our our LNG well margin capacity and step of to EBITDA for XXXX. was as sold Lake Rover the These adjusted a million previous contracts due Transwestern of transportation. increased result million systems. volumes in revenues third calls in optimization result segment, EBITDA in segment, offset by exposure the was in operating from our adjusted on were the million compared drop from spreads Trunkline we compared of third firm less in quarter demand due we the a we $XXX And primarily year parties. quarter contract increased in additional spreads last activities third of intrastate the under Beginning cost. to long interstate Charles was locked partially have to referenced January as primarily million to as offset pipeline our rate in on to lower and as term this partially with expect Systems XXXX, have $XXX scheduled $XXX
primarily less midstream for CapEx. USAC leading and now And organic our our I per full on year. capital projects mentioned to NGL stages we XXXX projects SUN the in significant taking billion will ahead we refined and which exciting $X.X year and billion CapEx We're believe Energy million as earlier, segments future products expenditures XX, franchise. months growth on organic $XXX we actions to growth and growth in to improve we're between spent days Transfer growth expect excluding And our growth. are help be expect moving nine industry Now to spend as XXXX, to billion in and growth of $XXX in XXXX segments. and refined that under several support $X.X XXXX, ended $X.X than build meaningful and And million there the be September CapEx in update currently primarily for XXXX NGL products on approximately slightly the final partnership and midstream the for our
in throughout was for manageable fractionation And assets. consistently credit liquidity XX, maturities our the from liquidity available as a assets and leverage and which under XXXX complex position conclusion our and we Permian briefly, cash total midstream revolving facility. be XXXX, maturities XXXX NGL billion have X.XX $X.XX of around billion additional no credit the In third activity facility with we of flow $X.X was looking improved covered in have additional our through retained ratio the Mariner the the reduction at ahead our times approximately September very Looking in East our quarter, than reminder across will more distributions. as
term the is operational drive clear and efficiencies. we that very near to value will ongoing footprint to continue long growth contribute ahead and our expansive Looking leverage projects will our
recent to debt. down excess using In addition, of reduction we organization, our the deleveraging by our our rating strategy continue and importance to immediately throughout emphasize as reductions our We remain allow capital grade demonstrated the cash to committed us to by discipline capital pay XXXX. will throughout distribution growth investment accelerate
year growth believe commitment first we please for excess our In position addition, cash the reductions flow. best Transfer’s success. Energy capital will long capital question. continued actions base, and this partnership discipline asset generating our better the Combined lineup our class to with Operator, throughout term announced demonstrate these in open for
