million reported was adjusted was the $XXX same Thanks period Matt. which quarter in Targa's higher Good morning, everyone. EBITDA XX% than the fourth XXXX. for
by drove was complement XXXX and net compared XXXX cash flow maintenance increase the volumes. along WestOK by $XXX expectation consistent fourth and that million fourth commodity prices the times $XX SouthOK Reported CapEx in prior quarter. coverage dividend fourth the be volumes $XX and to of quarter X.XX in maintenance volumes with over year in higher our resulting was highest total CapEx was full adjusted the Permian for quarter higher million growth for in of $XX of dividend in fourth the volume coverage Distributable would million. in with offset XXXX million EBITDA declining North year, GMP and fractionation Texas strong higher net SouthTX the quarter in Continued Badlands,
exceeded was as EBITDA $X.XX dividend For XXXX, communicated our full adjusted of EBITDA adjusted Full-year times full-year over billion. guidance one XXXX previously coverage and increased approximately billion X% $X.XX of year anticipated.
over day by quarter, quarter benefited we our and In EBITDA higher our from higher sequentially higher XX% volumes pro SouthOK. in the volumes. quarter, Midland Permian, X% to crude the each as increasing plant. the the Delaware sequentially quarter the Permian approximately Processing oil natural volumes to from Inlet primarily offset in Badlands, over volumes SouthOK third gas Inlet increased and Sanchez volumes third by barrels higher the fourth increased quarter day. forma through volumes legacy to third quarter SouthTX would've the and quarter. approximately Fourth million Moving and been operating per in for segment fourth the segment, sequential Bakken, XX% third and as quarter and systems the quarter Raptor XX% margin XXX,XXX volumes as compared quarter. increased fourth crude operating approximately in from our scoop X% in volumes quarter of Badlands results, gathered were quarter declines. XX,XXX growth the million Permian gathered for due fourth incremental offloaded marketing volumes increased SouthTX were fourth to adjusted and increased when sequentially production over In NGL Matt Gathering in the prices $XX to per third Permian mentioned, increased and Inlet in volumes logistics compared fourth also when barrels the margin $XX Volumes Permian increased our the in
temporary downstream impact that cargos again approximately in Park during expenses quarter of day X.X volumes the of XXX,XXX were as G&P the in LPG per result a over average at that barrels fourth estimated in fractionation volumes our average of Galena as with XXXX impacts the to million million operating and attributable in volumes. XXXX. into LPG shifted volume quarter the flat also XX% day predominantly despite XX,XXX and the a third downstream growth quarter deferred year as hurricane segments were the barrels fractionation the the into strong volumes were to Harvey drove essentially Harvey. of average roughly that quarter, impact per average of line month both Full our operating strong XXXX fourth fourth per hurricane shifted quarter, As averaged to result export volumes including result in barrels segment disruptions including into fourth Overall, of million exports $X average barrels quarter quarter to Harvey. hurricane of increasing Permian fourth fourth about operational X.X related barrels the increased month as G&P a per XXXX per month of margin export of were were XXX,XXX we
matters, the the Moving finance-related be payment value for estimated $XXX Permian $X now to other $XXX aggregate our million are with forecasted currently to acquisition about payments million to for be reported earnout of and fair April million April estimated paid XXXX. in XXXX a
fourth quarter, we forward additional the from we commodities. price benefited executed certain hedges in strength as During
For estimate equity of XXXX, NGLs from on we've volumes that natural of Field we volumes XX% estimated XX% our of hedged based XX% gas, current condensate approximately and G&P.
Our hedges gas hedges. natural regional include
XX% estimate NGL condensate For we've field and XXXX, of of volumes, approximately equity gas, XX% that we on again natural our estimate of gathering and XX% based hedged current from of processing. volumes
year-end Our end the cash. of TRP's approximately On versus leverage approximately including million compliance $X.X the at debt $XXX a basis, of ratio X.X consolidated X.X covenant a times as of compliance billion was liquidity quarter times. in was fourth
needs XXXX attractive strength for access X.X The at financial also year-end received flexibility. capital JVs reported balance and of proceeds of our equity Our $X.X times. debt-to-EBITDA which through $XXX to and position sheet funding million ratio current execution our increased XXXX cost we DevCo private and while liquidity to our billion improved for preserving was the demonstrate consolidated JVs, further Stonepeak. given significantly a they our from approximately an reduce Since our DevCo
acquire beginning remaining existing coverage to operations of October of over the XXXX XX% Stonepeak's the the currently retained Grand flexibility interest reduction Targa's at the base estimated and period, management, and train acquire no and JVs will be XXXX. other four additional Targa's the commercial minimum the flexibility years of the one control, the earlier during be for to stage the we of January in the the final residual in XX% DevCo XX, of acquire given finally in case project first to of Prix of or Stonepeak's include, in benefits GCX The of the maintained Targa contributed $XXX and construction interest option We projects operations and dividend to million that construction Stonepeak's deletion shareholders increments structure and Some the shareholders, no acquire purchase upside our purchase. fractionation interest. assumptions then clear, to we are the
per to expect XXXX Let's Beginning barrel X.XX now of year. XX% XXXX, with feet natural Permian to to for Permian gallon, turn cubic $X.XX XXXX the for our prices barrel with per midpoint segment, total our and increase per average billion gas which over assume prices oil to MMBtu NGL range GMP the natural gas in volumes prices expectations we representing $X.XX $XX XXXX X.XX between the volumes Inlet average composite per day to crude average. for average Inlet average the a average
We the expect fourth the of average Permian Inlet quarter volumes quarter to sequentially highest being ramp volumes Inlet year. XXXX with
higher cubic average. We the to the G&P X.XX to over representing gas the than XX% X.XX Inlet to increase G&P midpoint expect XXXX average an we day Collectively, Field range total also of XXXX average be feet in total with SouthOK, the Field XXXX. per between billion volumes expect XXXX volumes Badlands Inlet for volume natural to average average SouthTX in Inlet and
Permian We the volumes. XXXX average also averaged than higher volumes to and G&P XXXX. we Badlands total largely increase Permian the driven expect by in expect crude be growth on gathered Downstream, significantly in to volumes fractionation year-over-year, in both
our the volumes. ultimately, and the Targa LPG exports, ultimately, expectations volumes be While others XXXX only currently we contracted we for expect in will -- for financial Permian constructed while increase in increase expect include for additional
includes those are only contracted our guidance We expect that more than overall but volumes, contracted. again
EBITDA one representing EBITDA. XXXX, assuming increase a full expect $X.XX dividend. of adjusted $X.XXX billion adjusted between midpoint flat time, $X.XXX the dividend XXXX XXXX annual year be over to full billion range about year Similar with XXXX we be XX% a to expect to to We the coverage
sequentially quarter increase and adjusted fourth XXXX being year. for highest to EBITDA EBIDTA coverage adjusted the We with dividend fourth the expect XXXX quarterly quarter
expected to the EBITDA quarter First is be lowest. adjusted
As freeze-offs in our XXXX expected ramp volumes impacted were January. are throughout by because and to
recently announced and net be will DevCo continue As current than to move our higher commercially. Full as maintenance XXXX through assume is it And is that million. reasonable and billion. CapEx the forecasted year proforma CapEx to approximately approximately we is that execute estimate year to XXXX growth JVs, XXXX $XXX CapEx $X.X the for be
steps Permian our we we financing in XXXX, overall Prix and our over-equities, already obligations we Grand announced the remaining taken we announced XXXX our that we that needs and we for when the Given that took also In financing later with believe when then Grand JV acquisition XXXX steps in the to strategic reduced have XXXX are capital very BlackStone. and Prix manageable.
Our our ROE two of and under additional assets DevCo provide capital strategic XXXX. resulted significant XXXX being for JVs in Hess in will JV and also savings the construction of reduced the in January, $XXX capital million spend targeted forward. approximately capital and in with going obligations funding announced reimbursed MPLX We recent execution that for Midstream
back current turn I in We equity continue common sales, we asset other including course utilizing to and/or development the Bob. for model evaluate and funding joint EBITDA preferred given capital will to asset of strength balance with more additional call the sheet And into equity visibility Joe alternatives, equity. that and And and leverage debt also than XX/XX ventures consider have our increasing opportunities a over future.
