answer here we the our release prepared questions and Energy are operator, posted this earlier also everyone welcome members and today Thank fourth afternoon, good quarter you who as your the the of to other and Transfer Mackie I'm the website. management Hopefully, slides saw XXXX after help to to team, press issued remarks. by as you, well McCrea afternoon senior earnings joined call. our
As be the in a EBITDA the Exchange XX. forward-looking in flow, meaning are distributable XX, file and our ended statements December current expect making of for XXXX. assumptions adjusted which currently February or Securities this certain financial our both are Friday, which information of Form to and year we and XX-K XXXX, discussed refer are full we the beliefs, available non-GAAP reminder, will to as us, statements as of measures. based cash upon DCF, Section within XXE also more Act well I'll These of to detail
You'll our website. measures find non-GAAP on reconciliation a of our
our I'd today start by going results. like over to financial
segments after EBITDA legacy transport of $X.X fractionators billion, intrastate growth billion. distributions which For full at on our XXXX, partnership across of record Operationally, included ended capital Transfer, adjusted, approximately and approximately well through excess billion, basis, was billion, all to for $X.X $X.X systems Energy distributions as we flow we midstream, growth our approximately XXXX, year volumes an after generated as volumes incurred of XXXX which the billion which moved Belvieu. NGL $X.X resulted reflects the Mont record $X.X and as attributable DCF year of our excess continued and of we of DCF $XX.X adjusted billion. over record. had a is partners On cash of in
to XXXX. record XXXX, of our our into grow amount Nederland a we addition, continue NGLs Terminal of in expect we to and exported In out exports
Looking another compared which at to distributions billion, generated of quarter results, XXXX. the up quarter XX% resulted than per $XXX were of we fourth XX, distribution adjusted, we On a during excess DCF EBITDA of consolidated approximately quarter million. billion $X.X of to approximately as and $XXX quarter or attributable to the basis. on growth adjusted report fourth common an more we This DCF a to of XXXX. XXXX which distributions This excess the billion XX% our annualized pleased million. of of the the basis, fourth was approximately quarter was capital partners, cash third distribution of $X.X $X.X On of quarter after increase $XXX strong million flow in $X.XXX incurred XXXX $X.XX quarterly for XXXX. million had January an of increase over XX% cash over unit after $XXX and represents a is fourth announced we compared
opportunities targets, success the Future half our will of for that us basis supported the worked With have who to our an increases now appreciate of the We in of we will where investors, first last years XXXX. plus balancing to while to leverage evaluated was restored buybacks. recent diligently level this lower have it leverage have the on unit stakeholders. partnership on allow greatly over and potential we lead two stability equity transfers, growth our improve our This opportunities as all partnership. annual capitalize energy better distribution distribution and to increase, and will us be financial the future the
rating our agencies, are based ratio to of XXXX, XX, the we are on not $X.X revolving our X.X for billion. leverage X calculations, on credit our under facilities December was range based And approximately the internal target calculations while the ratios. total of rating As now the leverage liquidity speaking we available within directly agencies
Now primarily a I'll with primarily million on the year. products. compared terminal barrels well same last to record day and million the on was joint for from refined increase compared that as higher and per results to pipelines set deliver higher Ford our due X.X transportation average barrels volumes hedged compared to of a barrels was per averaging was This pipelines due quarter, for volumes to record, the $XXX quarter change as our the owned and to NGL Eagle margins transportation, and start per and to X new This Permian recognition segment inventory. barrels fractionation the last the same EBITDA venture period Adjusted per day services wholly fourth fractionated on for NGL increased our turning million $XXX And NGL XXX,XXX for by into fourth regions volumes gains of million year. NGL our our day period day to partnership XXXX. Terminal. XXX,XXX Nederland
XXXX, X the fourth first in our time single Mont barrels throughput Belvieu partnership's history. million during at day reached for quarter of fractionation fact, In the more than
LPG more into remaining second NGL at any export we Nederland going our worldwide percentage of And more Terminal. NGL driven XXXX, XX world X, satellites which significantly NGLs XXXX, primarily market. July tranche ethane on we doubled was load we the of In approximately exports loaded ethane fourth commitments term. initial year effect the total, nearly of year barrels exceeded company million Nederland. of exports by full contract full exports, million out than XXXX of with to barrels. other country from In the the XX% of driven and out by This for than volume volumes quarter and expect or record to XX continue export our
our the of the XXXX and assets the regions was EBITDA to quarter of increased of million of assets operating in was adjusted in well million to $XXX Woodford the December all fourth as This and of midstream, compared due Enable for For $XXX Express XXXX. September as primarily throughput XXXX. acquisition
XX.X compared last to MMBtus year. Gathered record MMBtus for at were day period day million gas million volumes same per per a the XX.X
Excluding over Enable assets X% the on volumes year. last gathered gas Express, same period our legacy and were Woodford up
our per $XXX compared Crude performance same Texas the our assets For Gulf terminals, the throughput same X.X million for was $XXX the pipelines day well oil the for well million by period These addition assets was on improved XXXX. per segment, increased into and Texas of to export barrels as million Ted year. higher the Bayou This compared Link in South stronger to of Enable demand systems last placing pipeline transportation as of last the volumes the service. increased oil were million system, crude Bridge barrels Collins and addition and on Coast driven pipeline, on by December as refinery adjusted as Enable the year. higher our period at to our volumes Cushing EBITDA results X.X driven utilization crude day pipeline
opportunities, assets. Header interstate our to our the storage and the flow rates was million and intrastate million of to pipelines to optimization on well primarily was capacity of And XXXX. $XXX segment, system was higher $XXX Volumes as Trunkline, in the $XXX to at year assets to takeaway as XX% of quarter the remains for utilization for addition related EBITDA and $XXX or increased many due interstate same to fourth near volumes gas EBITDA on period primarily Enable Southeast the Rover transportation million segment, due contracted high. to Haynesville. the last pipeline demand adjusted In increased million This our adjusted revenue as on Haynesville several in our HPL of to interstate including activity assets. and and System Tiger, the of remains increased higher well last for compared strong due the of higher in Utilization year. Enable as increased Supply This of compared the our continues over the was our fourth Rigs pipeline our pipelines, addition FGT, quarter due fees
growth energy start has theme LNG. recent an as I'll for projects. our LNG strong demand looking update security Global a with on key developments Now project. for LNG remained Lake our as at ongoing Charles emerged on
competitive. interest European agreements. shown addition, to We natural committing In these two view long-term producers factors Asian at securing have is drivers market index Gulf The natural their a and currently production sales along of key arrangements LNG as in portion increased offtake towards U.S. extremely gas long-term prices. the gas Coast or LNG additional LNG
longer of we level taking bring it than originally competition, this this FID. us optimistic but project that we reach to are expected, is to Given will FID
customers, additional to and aspects of the project information making it are becomes as available. progress up all continue sign working share we'll more We on hard and
at increase allow to XX terminals, export Hook Marcus Marcus and docks one of we Nederland to our dock dredging us to load November our this depth at will Hook which completed to Turning going at forward. in VLECs XXXX the fully feet,
In project completed FEED with provide NGL additional export study Terminal, on our a addition, expansion we capacity. us at potential a recently which would Nederland
provide details on currently We and this hope in near more the are evaluating steps next to opportunity future.
incremental project also and NGL Hook to optimization from customers well as storage ethane We demand, in continues expect capacity. increase. that to refrigeration both as would U.S. an the overseas at add approve Marcus
come. We demand will in growth to years be are significant believers international there that many firm for
we as storage docks Mont the of supports brought per than and million Mont total plant quarter a it in at total approximately at fourth Next, is capacity during which the up per fracs ramping the This day. we online our processing barrels. approximately Wolf XXXX. XXX approximately and service construction brings placed into addition already our our million Out bring million storage growth purity in fractionation a to XX capacity underground to Mont to December, of growth expect the service, quarter, X.XX million of at anticipated. day X Nederland. our Frac barrels, more quickly Belvieu cubic our scheduled, NGL VIII in Also third at Permian, This with in well Belvieu cavern continues barrels as new in as we be Grey capacity will our foot ongoing Belvieu it
which As commitments by in contracts. growth is and located customer Delaware supported reminder, Basin, this from new the a plant, is existing
quarter Construction plant of Bear the in remains the Delaware in foot processing eighth XXX service per continues in second on be This Basin. cubic on to XXXX. schedule day our the million plant plant,
and plant In necessity addition, evaluate processing the we in to potential adding timing the of region. continue another
XX,XXX work our Oasis we which takeaway at and Regarding Permian completed also the recently on incremental of out Basin. modernization added of least takeaway, debottlenecking Permian day an Mcf per pipeline, capacity
natural Gulf provides pipeline Bcf the transportation prolific between gas the most per upstream into service day delivery from the natural for Coast. interstate markets and Coast LNG natural as our which the as pipeline Gulf market connecting with capacity, XX-inch also to pipeline with We some the producing export gas Shale in a Run Run, regions placed well Gulf Gulf is X.XX gas December. in Haynesville the the of of network many along U.S.
is commitment will concluded per due Run likely It by design backed were a initial season to Bcf facilities open day. with for Pass and season producer beyond We necessitate day from results LNG, Gulf Bcf Golden customer of a the and open growing demand. discussions per non-binding we are pleased which on X.XX the recently of XX-year additional the X.X ongoing,
utilizing through our and which we added delivered Trunkline on customer being is already X Run, into Zone pipeline. significant are We of commitments additional Gulf a portion X, capacity Zone have
other discussions FID these long-term can on these significant provide at returns optimistic In these of over our ongoing remain any projects, and regarding and evaluate to significant addition have appropriate forward sharing updates customer upside continue potential to a that bring projects projects the number We business. could timing. to to and strong look the we to projects we that are
North we On related XXXX. CapturePoint continue plants. for capture project the is The with processing with storage progress sequestration the June the energy our Class filed our in make CapturePoint. on was of Louisiana alternative front, side and That carbon VI by permit to EPA to
the XXXX. applications Oxy's Industrial customers Oxy Charles project EPA in Energy X in working we're the commitments sequestration injection a related Oxy COX pipeline Louisiana to leader executed would in connect Allen a pleased letter Lake Transfer Class to reaches filed site the Oxy for Louisiana. Parish, are together to to hub sector, Pursuant and recently Transfer Charles, of letter obtain Oxy Magnolia north in FID, CCS with them of the Louisiana, this X the also Parish, project make a COX Allen and the Complex. area. If Oxy's Energy with industrial the this construct to Lake of from in be to successful. with to is wells intent, of intent working customers We long-term
across either we're systems. utilize opportunities to numerous the COX and capture our or store addition, evaluating In
capital the growth XXXX. Energy and in full Now our midstream, spend segments, approximately billion XX, NGL SUN $X.X December on organic and at Compression Transfer growth CapEx. year looking USA for of interstate excluding refined primarily products spent the projects, and
year between work, projects. Permian, be This XXXX, Belvieu, Permian as and in will billion, on primarily projects Basin, we full well existing additional reduction $X.X treating processing in spend as the preliminary expect carbon segments. demand new gathering capital to capture the For capital billion and includes midstream the at which efficiencies compression projects will spent build-out Haynesville, capacity related Bear NGL and plant interstate in pipelines, that optimization $X.X and emission the Mont the compression products in and to and improved like Frac VIII growth expenditures address growing be refined
include capital of from amount XXXX end that to needs. attractive online projects into timing to at of this XXXX amount flow pushed our contributing very is and small before was the addition, returns. spend XXXX In project of are be A expected number comprised cash due does of that in-service capital a XXXX significant
billion. EBITDA and XXXX expect our year, products and market given of market outlook to as adjusted continued domestic Now services, ability the to between we billion our cycles international the be various $XX.X for our business EBITDA for adjusted through for operate the guidance, our as our well $XX.X base demand and
And expansion. we utilization XXXX, expect opportunities Our core flows of business segments and and stable cash optimization increase. in to all in continues our for to provide
forward experienced current pricing commodity we not from for does With and our guidance in the curve the upside same spreads prices spreads, benefits assume that XXXX. and
commitment target X.X to our to leverage of XXXX, expect we X times. position, in range result our strengthening stronger throughout financial our a a XXXX balance we As much to sheet and maintain of entered
further place flexibility bullish best growing the products. return in and crude that financial of positions natural will emphasis gas our us future worldwide projects We cash improve and flow remain unitholders. allocated continue We natural strategically invest and and refined to oil, demand leverage, to industry the growth to on gas liquids manner a in our value for high-returning about and
asset projects capital and we ways for additional enhance we address continue our that demand for will attractive as As part our strategic generate look new and to products, existing pursue strategy. existing growth to our allocation base returns of
open concludes line, the for prepared up our first This Operator, question. please our remarks.
