senior Good quarter and also XXXX McCrea of by operator. Energy questions joined slides who remarks. our website. posted to release Transfer issued Mackie the members to other Hopefully, first earnings answer and team afternoon, as you, welcome afternoon press prepared earlier the everyone, our the after today management Thank call. this are saw well help here we to your you as the I'm
quarter be will file XXXX, Section certain we both non-GAAP adjusted we current or reminder, forward-looking Securities statements Act discussed in more to of of a As Thursday, well These detail assumptions this our meaning EBITDA the making flow currently are in available also based the March us XXE expect and which Exchange ended our as refer within to information beliefs DCF, as upon X. which the for Form and I'll of May and cash statements to measures. are of distributable XX, XXXX. financial XX-Q are
of a our measures website. on reconciliation find You'll our non-GAAP
for like first I'd today over results going financial quarter We start were our with of by results. XXXX. pleased our to the
both Nederland Marcus of of and NGL terminals amount and Netherlands exported a across generated through EBITDA pipelines and terminals, interstate of XXXX. as we volumes the our the included quarter. first benefited Hook and $X.XX Results quarter exported well was record billion, quarter midstream our products terminal as out for which our from and which ethane During adjusted record from during of LPGs NGL $X.XX of segments, up billion for which a out the of first refined amount record
distributions of Transfer, million of attributable quarter after the DCF to after excess million common announced $XXX or of the an $X.XX paid This on billion incurred capital basis, of $X.XXXX excess XXXX. unit On $X.XX XX, $X.XXXX $X.XX partners represents billion common per DCF billion. per $XX and million. April for had compared basis. we $XXX the quarter we distribution cash XXXX. an of unit This first fourth distribution annualized flow from Energy of in increase On as growth of adjusted, resulted cash quarterly $X.XX a for of was distributions to an
future our annualized cannot targeting of an common to expect a we X% basis Although on quarterly rate. ongoing annual increases guarantee growth are we a performance, quarterly and unit now distribution make distribution to we $X.XX $X.XXXX or to on basis X%
to future provide This some to clarity holders our rate targeted allows us on equity growth distributions.
We continue invest sufficient of the to our flow leverage balance to maintaining targeted and rate, in returns, reduction equity of growth cash opportunities. while backlog growth our incredible Inclusive increasing distribution all times range the we agencies' ratios. times target to ratio forward X of to calculation leverage expect based be our going end still the on rating leverage our lower at X.X of
was XX, of March total available facility the As under revolving $X.XX approximately credit billion. our liquidity XXXX,
to $XXX terminal with Adjusted and compared loss is increase fractionation, for primarily on same hedged year. from an margins physical was Now first million and Also gains third turning inventory of by northeast This to segment transportation, the increase from related as optimization. included $XX year. change last recorded I'll the the the well as in million storage to quarter NGL $XXX due services, recognition of for in last refined to blending in approximately was quarter, the the NGL and period was products. EBITDA which primarily start higher million results
well as and region to was into primarily pipeline increase NGL Terminal. record million NGL day as that on period million day X pipelines XX% compared last higher transportation our venture volumes our increased our volumes X.X per on from Permian to This same the for Mariner wholly due our and pipelines system, joint per a year. barrels owned the deliver East barrels Nederland to
total, an fractionated over volumes by the quarter more to exports Nederland of XXXX. of ethane was increased Average quarter and volumes the primarily to XXXX, July NGL Hook barrels XXX,XXX barrels increased quarter, driven on of natural per first than of LPG of as percentage international first by of In for remaining second than XX% company or market. of contract we global Marcus barrels X, the grew XX at the driven record as the average well XX% loaded out record of as exports out as first NGL country of demand than XXX,XXX million ethane export In per exports export continue the going This XX% satellite's Terminal any tranche worldwide NGL into compared day our other for more gas ethane our out to effect Nederland. with terminal. day liquids. we well approximately more
million to which partially was for regions. million the lower This expenses, operating as compared first due were the $XXX XXXX. quarter For NGL to gas natural by in increased and throughput as our primarily midstream, of was operating increased $XXX adjusted offset prices, EBITDA well all
year. record In XXXX Gathered day compared included million $XX XX.X XX.X MMBtus million for the quarter onetime approximately a of day first positive million. last of period gas volumes the XX% to to MMBtus same increased addition, adjustment per a per
to compared For entirely and $XXX and volumes was Pipeline financial $XXX segment, gains differences lower on quarter the physical for to the year. compared primarily the to adjusted was period the due settlements. million lower optimization reduction timing optimization first crude The EBITDA Bakken the of last XXXX. oil to between was This attributable million same in
second recognize the activity. million gain expect related in to quarter to We $XX this
which of pipeline a by for pipeline, Bridge first impacts. several approximately of the of Bayou X.XX Pipeline and included million volumes XXXX our volumes the the systems as X.XX These were last barrels the oil partially as weather a transportation adjustment by period volumes lower XXXX, to the same result and placing on in million barrel day systems This pipeline offset per into $XX pipeline demand. result a production were well In negative Link day Ted onetime quarter our of addition, higher throughput offset was export Collins per million. Crude were higher related as year. Bakken second of the of Texas on higher on quarter service compared
volumes the In Gulf Run the revenue pipeline the to December transportation (ph), segment, joint $XXX Volumes $XXX owned was due million to of for on [Sesh] and wholly as quarter venture EBITDA placed as first year to higher and MEP compared the on same rates Interstate as into due Pipeline Run XXXX. including adjusted into well our of XXXX. pipelines, [Pebble] several was Trunkline, utilization to last the (ph). service of placing of increased Gulf in This Interstate period our Transwestern, related as being many pipelines, and contracted well XX% service, increased over higher million
And due for was million partially Intrastate to pipeline our to revenues optimization $XXX quarter opportunities and million lower lower $XXX were fuel EBITDA last retained was segment, year. decreased compared prices, adjusted This gas to first due which in of our the Haynesville growing a natural related on opportunities number and and storage Systems from and takeaway of to in our increased increased higher HPL Utilization in the basins. assets EOIT, from fees demand optimization production by operating Oklahoma. on Rig gas higher offset
and Lotus Basin excited the lines fully for [Centurion] Midstream Transfer the Transfer's and common million pipeline Permian cash from pipeline owns enhance transportation are a Lotus we will closing and operates Southeast the Pipeline, developments, of with Oklahoma. the miles Permian recent our million acquisition X,XXX extend gathering approximately at (ph) crude that Energy Basin. terminal about footprint Mexico of crude in of approximately system Cushing, in across $XXX This to Energy addition of acquisition XX.X units. briefly integrated Looking crude
approximately In day. the including hubs X and capacity Wink access major at increase storage direct City, Midland assets provide addition, million will per barrels Colorado our Midland, and other Crane, to by
Now I'll Charles of growth LNG start for of deadline construction with to extension update projects. Lake the from Energy. an completion Lake on of And project. FERC XXXX. XXXX, of XXXX, received the LNG June our Charles applied turning December facility to May our an in of the we Department we In to
denied XX, file We appeal decision of within extension. to aware, an XX now As Energy this for many plan request on days disagree we DOE and the this are April with with our strongly decision. the of Department DOE the
export demand in Now NGL as turning both to Hook Marcus continues terminals. U.S. as well and from increase. Nederland to the international customers
export add projected give this bullish well products expansion expansion export market new positioned tremendous The XXX,XXX day we that there and to service expected capacity the different we for We This to well have expect from be dynamics We our that barrels per benefit address as international $X.XX expansion order and us time. expansion at capacity. to demand. to flexibility demand are growth, billion approximately more recently the specifics growth to many which cost in future. to based on are mid-XXXX. the to look forward FID is products to is will In in at to of as providing load in near be in upon years customer and which NGL demand to up this we will Nederland come significant
our We ethane incremental optimization to Terminal and also continue Marcus storage project Hook at capacity. pursue an add refrigeration would
frac is monthly capacity Belvieu placed month of Belvieu, plant of record. Delaware we in day. for our into averaged million will million total XXXX. new fractionation throughput Mont to per the Wolf addition $X.XX fractionation over XXX in of Grey expect approximately X And the processing our barrels the And in day to eight This Basin, be service foot to bring third XXXX. in at Mont million cubic we per barrels service continue December Next per which day April, a quarter
supported is in And on As construction plant in to second Delaware service the XXX by this continues plant contracts. processing a in remains per Bear eighth on and day commitments reminder, our customer This be from plant, XXXX. of million cubic new foot schedule existing the Basin. quarter plant the growth
another Permian time Basin. in continue we evaluate processing the the addition, adding and necessity plant In potential to of
during XX,XXX added our and capacity quarter, per Mcf Regarding completed of day Permian out an which takeaway, we the also Permian of the least modernization Oasis incremental at work first takeaway debottlenecking on Basin. pipeline
significant Coast Shell pipeline. many trunk the along were Gulf the some delivered the which have in regions our most gas between well the Gulf into a transportation added pipeline our export customer in through Run X already utilizing We December natural the connecting we additional Gulf Haynesville, prolific capacity delivery commitments LNG of into Run being from to the XXXX. as We U.S. of also Coast. natural upstream provides with and is network line placed the producing gas markets and market, Run portion Gulf of Zone as Zone Gulf pipeline X, on for service
to evaluate potential we growth could appropriate number potential long continue provide we on to optimistic term business. our these projects, addition a of share significant returns the time. and In over projects the to bring these and ongoing strong We projects projects at these that will to that FID other upside significant updates can any remain
our commitments hub Oxy together sequestration front, Louisiana, executed to on Magnolia was Charles connect the area. permit filed with of to related Energy If X working storage project for Louisiana Charles, that Energy letter the Allan Oxy this to Also progress continue we of COX Industrial CapturePoint by a Louisiana a A of obtain Energy customers XXXX. north Transfer plants. Transfer and carbon make Alternative with north construct to June the in site in capture we COX Oxy's Oxy's our the customers term the site Class intent, and Parish, related pipeline the of Complex. Lake would One to recently to with is from this Parish, project Louisiana. industrial FID, long in intent reaches treating in letter Lake in are EPA CapturePoint Pursuant of sequestration Allen
segment, and at on our first and for in Compression Transfer project Products spent and March Energy capital the XXXX, $XXX growth ended CapEx. SUN Refined excluding organic NGL looking growth midstream Now quarter USA the primarily million XX, projects,
which export midstream, to refined expenditures NGL XXXX expected of be the at spend outlook NGL XXXX, the growth and A in at contributing will acquisition. that amount is of cash Lotus in For $X the XXXX as has updated processing treating expect been including segments. the are X, This comprised online primarily capital well flow attractive our returns, Bear projects to capital frac of and billion, to the the be the and we before full Nederland, related expenditures approximately Interstate now capital plant new be Haynesville. project and expansion year very products as to end spent growth include capacity significant
Lotus adjusted EBITDA associated updating the our guidance acquisition. EBITDA are include to with for Now guidance, we our
$XX.XX XXXX As be a $XX.XX adjusted expect billion between EBITDA we result, and to billion. now our
our As upside assume spreads a pricing current we reminder, XXXX. for guidance prices benefits curve does not forward commodity and from experienced spreads, with and the that in same the
ability Our and continues demonstrates to our segments stable through of in to expect increase. to our we base business utilization cycles flows operate and various core provide market all cash
create continue driven opportunities for and by sustained for and domestic international and products we to addition, expansion In our services. optimization demand
We remain products. bullish and the industry all for of worldwide future our growing about the our of demand
will and of new that pursuit part ways this generate to continue of As asset returns. for strategic our we to growth demand projects attractive capital through our allocation look strategy, existing base enhance address the
and flow to cash X.X times X rate In manner in emphasis X% commitment while will to X% to maintaining continue our strategically annual leverage all that a for free allocating place balances significant cash growth targeted growth. flow addition, our our target, distribution times we to on
This remarks. please our open concludes the line-up our Operator, for first prepared question.
