this morning. the for everyone Thanks, joining and morning us thanks Mark. call on Good
outlook I’ll I’ll on usual the the to project our begin quarter and I’ll more preliminary As quarter quarter comments quarterly an by financial for call detail then operational in on $XX.X, up of quarter, line which results. few adjusted update our results. over on results discussing it the third the announced we and in and Yesterday for our EBITDA XXXX for turn in E totaled prior period Double the financial with with our second the giving the XXXX. third was year Matt both wrap
prior the our line full averaged completion SMLP and wells Williston component were by drilling more customers our was seasonality consistent to results with day totaling The quarter activity we in a drilling full level flow well on approximately million distribution from XXXX key $XX.X coverage the track quarterly fourth had to to to led We We hit $XX million $XX results than the year in adjusted increase expect driven XX% XXXX Liquids in turned and year at volumes XX,XXX new X% strong third of time. improve of year Distributable full maintenance million. million, XXXX distribution times. A $XXX CapEx and of third for activity continue to with $X.X maintenance by due quarter, record spend are And in the Higher segment. coverage. quarter over the cash X.XX quarter, ratio which quarter. distribution guidance coverage in of to in the CapEx $XXX volumes our we barrels the high in quarter-over-quarter. CapEx expect the XX pretty and was higher to coverage impacted a completion of one from was new maintenance and range a million. EBITDA a which and quarter million, to almost
Our systems. customers our drilling upstream currently are running rigs of three
Williston third produced third the existing water wells third number into a day. from constraints party segment we disposal our and constraints since production day. quarter has been negatively October and at the an curtail for XX,XXX quarter of in volumes Many the quarter lifted are nearby XXXX. of wells fourth which strong or for a our customers completion a volumes Outlook temporarily certain impacted estimated with barrels activities, liquids of of by along XXX,XXX During simultaneous for XXXX and higher liquids an excess of forecasting these Williston volumes barrels and is drilling
by our SMU segment, and new forward. all differing the experience agreements customer quarter, gathering gathering system. to now adding quarter. results We or portfolio system going segment Utica, in crew the our that are three Also, to our before enhanced expected can end. your at activity project a approximately further which of previously day our for project In add barrels the commercial complete boost plan OGC the As will completing our XX,XXX bottlenecking teams, discussed the to this
of there cubic systems second SMU the required remains scheduled costs on drilling production. of quarter and feet throughout XXXX that on a volumes remain Activity currently all the to This XXXX. us XX day working approximately temporary approximately million mainly volumes to in steady since area activity with going down of curtailments drilling upstream For of volume XX% one our rig quarter-over-quarter system. that’s activity completion were due existing and the of
of economics on NGL to a liquid countered is very in is We primary economically Well, gas third prior expect now with prices activity it end and by in the of and customers in activity Utica robust through the we a expectations, at XXXX. completions One our improving and windows rich crude aware these completion shift is to mixed of attractive. the see Shale this our the areas of beginning change surprise became make drilling SMU steady and condensate behind major as the wet remaining higher focus oil quarter one OGC. level of and
Gathering in XX our volume quarter-over-quarter by We associated driven XX%, reported an segment, are uptake already quarter. the in seeing wells activity connected which Ohio new growth with levels
will Our volume customers OGC, and are are for currently this and including systems, XXXX growth. foreseeable sub upstream of SMU expect XXXX in continue activity transaction. the we dropdown rigs to future operating two our OGC three of lead and the and
dry and DPPO from geographic So wet has into away this our gas and the the in calculation. window switch condensate windows captured
DPPO expectations, fewer As at which gas have undiscounted in primarily on really dry reduced we gas offset and in dry result, pads but SMU impacts timing, a related million new significantly. connecting relates increased to the as by the customers CapEx the amount of new wells the mentioned estimated XXXX, The area. ship to based to $XXX was – $XXX just gas partially area gas in I the lower million DPPO new from wet
Utica we move the on points key other few on. a before Just
and across be increases this several of volume First, a expect discussions will DPPO. the all gas to with over the having in in although past windows, solid gas growth activity significant gas well gas We beyond lower was basin. come. for the and window last condensate, the spanning condensate XXXX. in us many expectation for flow the months, dry than increase XXXX years activity in still we we lead In Utica the have that’s reflected nice customer we’re which in dry three seen windows, in the quarter, area wet expected bullish and wet to lead and the Further, to cash
of assets Mcf trading was and $X to extension has cycle. as with is the in the where adjusting we DPPO, $XX with these multiple $X growth we’re come an the cycle of the I couldn’t below crude a assets, working at natural in around XXXX dropped a was the duration it gas was markets times partner which the the trading like the these barrel, robust down, it the to risk first SMLP XXXX while an EBITDA. the see six half DPPO in associated the as down trailing exactly energy assets dropdown we the enables general of and payment a but In state has XXXX, commodity ages beyond. benefited assets because and of at have predicted when capital amount with Second, relates barrel of to performance its was our design disarray. and the or know these attractive development those early Perversely, a in Why seems quarter in that MLP agreed connection acquire changes ago, were assets. in
So SMLP will benefit XXXX growth outlook. greatly post from this
day an to a and well our segment, Midstream quarter. drilling September curtailments averaged about in Late for million costs approximately The feet the during temporary Moving required and the $XX completion completion scheduled of activities pads the feet and cubic XXX in Barnett annual today. our – days drilling new with volumes DFW were and on coincided new completed affected maintenance approximately regulatory well the wells by volumes XX% with the in million a quarter exacerbated the quarter activities. with shutdown third third new down regulatory exit sorry, pads which from quarter, was shutdown, This volume rate existing us with five volumes prior in five cubic quarter. customer together
throughput during at later volumes XXXX, forecasting completed is quarter, expected Niobrara wells the system. diligently in our which year. We’re third positive commission wells Currently quarter, million expect capacity. DJ has focused segment by a new this Piceance/DJ DJ were Piceance/DJ the G&P team connections year. the on DJ the including to day which Activity system existing in day plant, the nearly segment full XX of XX XX additional basin we into working early was well begin the system, volume impact we plant, constrained new in to our new new our four XX system on upstream our a and processing the in million operated next
our area immediately year. already the an becomes to new the evaluating behind docks it customers running available this subsequent currently processing capacity later utilize our these DJ activity addition, we’re are inventory levels service four and of complex. once At rigs of processing expansions In building
team in XXXX. northern expect steady lane This ramp plant, our which a Turning Energy. processing underpinned facility was we originally the quarter XTO fourth occur to our volumes by on has commissioning with focused or throughout operations, in Delaware will
agreements less negotiated with additional gas other half, counterparties. executed However, than a in a agreements year in we and processing our have potential three
DJ, activity this the and gathering where plant project the an Our running two of expansions are been is subsequent area processing customers begin initial to the commissioned. planning are drilling system requiring even levels rigs currently has us our like upstream before and
the accounted northern and in with gathering of thus XXXX in majority our flow. practically expenditures DJ far projects cash basins have zero Our associated Delaware processing and the CapEx for
despite been shape. in ratios distribution this leverage good our balance coverage have and Our also impacted. ratios sheet remains But
ample X/XX capacity, has and leverage times. liquidity significant which X.XX have as We at stood
in utilize fully investments more our coverage to DJ be financial assets the results more need distribution flow to our near improve throughout not With Matt expect access XXXX we we the and and our that, from positioned We to well the over XXXX. We to very do for payoff in cash Delaware. term the expect it our capital meaningful and review in ratio to the the markets turn begin as forecast DPPO generate to I’ll in detail. in equity
