morning this call everyone. morning. joining us Thanks Thanks Mark. Good for on the
turn our quarter I'll were of with comments Matt achieve more on on it financial financial financial announced which a unit and detail expectations, for then On quarter operational million X.XX quarter announced per the XXXX quarterly As on quarter $XX.X $XX.X first distribution and begin our cash first few XXXX, guidance keep to April with line track included we and adjusted distribution flow. our million of over of us usual, in I'll ratio our XXth, results to Yesterday results the target. These which EBITDA we distributable coverage times. first implied [$X.XXX] results.
issued and our needs our short-term 'XX the As cash the capital weighted it and expected XX, distribution had target equity medium-term to and with our and towards flow, 'XX. coverage strength capacity enabled range us think trade-off given we of line distribution plans we leverage to below appropriate coverage growth was that and distributable satisfied the capital our ample year offering in that post raise the fourth This balance equity long-term near-term X.X at of quarter and into times $XXX at March we in on and sheet. funded preferred strengthened end EBITDA XXXX while this fully adjust visibility million leverage ratio first expectations, quarter is
[self-side] at reconsider to distribution is analyst, As this our and investors clear, need a make us recent for a our with like payout. current distribution and no of of is result time, conversations to thing there number and would one secure I sustainable
ramp-up. commodity the transactions. this slower profile cycle made EBITDA large CapEx dilutive growth, decision fully ramifications we out Our of growth a organic and the projects a visible last will leverage to of years funded versus on have is understood and We moderate, accretive our several over accretive coming the M&A is deliberate focus these until we be growth
coverage stronger this to feel growth our our XX approach in now months, as strong. unit next our sheet that the organic and than we kicks XX beneficial will holders However, expands be over to balance ever remains
optimistic Delaware, Bakken to all we or assets, of in to be Utica Northern near-term generating of higher DJ Our quarter were of the beginning which growth contributing Summit's and the primary expectations fourth related EBITDA the Delaware positive in EBITDA case expect for 'XX.
to significant we exterior for in construction catalysts consists today have under Since our customers which third ramp In natural Northern system Utica tremendous in three Delaware DJ dedication. we announcement volume. underpinned added dedicate our areas of a by on 'XX to energy. project for acreage the Just of we of the new amount focus at Delaware quarter growth gathering those and and expect the and us gas to continue the that is expanding footprint a additional and processing 'XX, be
our We catchment an and to offering area XXXX. will service to are early also that announce excited in we customers have in recently existing providing we our reached expand crude oil for agreement gatherings begin
pipeline target. liquids January, gathering the will in for of that a crude additional natural and takeaway the capacity [many if at an in needed Summit season announced associating producers opportunities to respect as to incremental achieve Delaware oil growing entry gas know the going a proposed rapid production and open production this in long-term northern Summit our expect We EE pace project expansion you] we With Delaware was in for revenue allow their the future. non-binding in is are believe gas
to in of to interest going discuss and I'm initial providing gas originally for a Hub. needed integrated in natural diversifies call. capacity We solution to contracted project takeaway to own will allows looking the are plant offer little is in excess further This of by as a announced EE release highly provide points offering, later post we expanding night's customers bcf the area day In solutions marquee which service earnings our one we a significant we of contemplated. in provide aggregating EE flows at Waha our will multiple project much it phase receipt Summit cash the the including last from and received completion. an the transportation have processing
gas our in product million Northern on day a budget. gathering for close is the natural project on associated XX are to time And Delaware. and processing finishing We and construction
mechanical quarter expect 'XX. June in cash beginning third with first of the flows completion in We
previously our to As financial see mentioned, expect as the from I volumes beginning drilling quarter benefit 'XX, we of on plans. fourth this the ramp-up. asset Based in customers
at fourth I'll note development is that well tune with current stay producers are expandable lane so plan EE for existing facility XXXX the and This here. asset. originate optimize working for pipeline ramp nearby steady beyond. Our from also quarter were readily and actively further the and expectations into to the will
recent in and volume new solidify will that which onto XXXX. allocate to for outlook enabled brought liquids last for led double-digit higher activity the and due most to improved notably customers our few have efficiency market our additional our system. Our takeaway assets significantly drilling and we oil the two prices couple customers gains crude area. Divide These Polar dappled capital and commercial be to completion We've Williston growth system net to help has behind in sustained to service back our improve has wins expect capacity a our areas. projects in had their what have of also months Increased decrease
the Additionally, wells. recent existing results Williston have on our customers assets attractive from recorded
recently of second our million activity and from XXXX million that XXXX. to day the continue narrow XXXX Increased in Summit's approximately the feet additional and nearly Williams and the to activity cubic and activity an second gas, a less first particularly to these an the County, increased to We The long-term. customers the will encouraged basis wet producer completed the notification increase backs in cubic six for level On service results takeaway small area. quarter, growth majority bottlenecking liquids wells drilling SMLP quarter summer by in in the in XXXX. this during and feet into Utica, may a are catalyst increased active are dry has gas incremental drilling half year but XXX feet differentials an over we SMU prices of have we moving recent XXXX condensate million pipeline. of well of producer recent SMU are with increase and a in and capacity in be Northern We spurring believe Higher that of cubic our the XXX the volumes averaged benefit area begin been day. significant seeing as will this robust and system a downturn of increased we activity of received volume in near-term these will past strong complete provide we seen months. result a improving balance the in areas areas. activity coming net in across now completion specifically this in XXX project for are
to it Matt detail. financial over results Now to review in I turn our more
