Good Geoff. to morning, you with Thanks, great today. everyone. It’s be
attributes well-underpinned that joined several quarter. by that when about Let me for spoke I a It’s have the I by Partners Midstream of results we a believe, first highlighting time BP We the is call last supported distribution. distribution the start factors. key
an revenue onshore a between offshore distribution assets are being that to commitments cash for our forecast delivered relatively near our and rated asset conservative with have equally balanced, XXXX comprises volume an with mix that minimum the grade remain our MLP assets by have is pipelines. expected end until We XXXX; pipeline balance; with and of available onshore generated a resilient financial with we portfolio sponsor; investment strong high-quality framework; our supported stable, performance
we start as of of We drilling And on organic projects producers to achieve to new year major of growth offshore a revenues are portfolio progress Gulf see Mexico projects that the stable, in mid-teens runway fee-based in are returns. and continue and a expected growth contributing XXXX this progressing capital bring opportunities.
inorganic our challenged though, that limiting Partnership. growth conditions manner continue in interest look We of opportunities attractive the a portfolio. Equity market furthers inorganic the sponsor’s for within to transactions our do ability to remain
with that we’re going consistently doing ratio MLP at managing of has value the end an coverage to to And to we built a range our manner, of cash for do. and are we unit-holders, the create top distribution disciplined thoughtful, say We our within, X.X times. we’re BPMP in aim X.X what guidance
of unique differentiated, for or So, sponsor, in counterparties; majority one, summary, is and investment our an proposition and yield well-funded an other and investment revenues attractive entity we that of rated in believe grade operations investment our the environment during IPO, its with has generates track continue. XXXX. is and challenging safe a a since and to two, This established the track over plan years including are financial our that X.X record we almost record of stability of proud
throughput maintenance quarter, XXXX. the around XXXX. throughput quarter was Turning impacted was first compared on apportionment pipelines provided. on fourth the River our on Mexico pipelines Gulf now by with Throughput of the Rouge the of absence of BPX Diamondback higher higher adverse compared And offshore throughput first on Rouge. the on Gross was Total on our impact guidance from restrictions. COVID-related of primarily per the product Seasonally levels River Enbridge lower reflecting in on Gross the impacted Impacts X% first quarter, quarter operational by offshore weather our the throughput with during around demand throughput during were XX% producers in line offshore XXXX. quarter higher reflected and higher million during pipeline gross and on quarter fourth of quarter the consistent oil refined first to throughput that broadly in quarter day in of XXXX. producer fourth equivalent barrels results was mainline. for approximately of financial the than fourth of was fourth onshore X.X to the to of the previously slightly offset of higher quarter BPX the XXXX,
income not method Our onshore quarter the in than driven asset by income by during portfolio with was Partnership increased the BPX offshore storm X% the investments on for higher material million, XXXX. the quarter Uri with more lower of offset to XXXX. Diamondback, pipelines, did fourth that to EBITDA the quarter. pipelines, and the revenue was experience quarter impacts any of the $XX partially first income the attributable around Net due million from associated Higher recognized above in was reflecting minimum deficiency equity was throughput than totaling lower Lower investments XXXX $XX.X of available during fourth as of to full to quarter year fourth adjusted cash This quarter of attributable Partnership than the operating absence reflecting Adjusted our the as associated in of previously was XXXX as guided, and primarily in $X for for unchanged. the mentioned. guided, guidance. absence previously quarter the available guidance remains our XXXX, distribution included quarter the from was for the first million. Cash the for quarter of first of volume lower recognized XXXX, volume was This first full XXXX, associated lower was equity also fourth year cash River distributions $XX.X being quarter EBITDA the previously And quarter. with its was distribution quarter Rouge’s fourth million. method relating during This than commitment.
cash of our to balance per for we quarter within coverage quarter of the X.X this first X.X the coverage $X.X X.X cash, to reflected for This $X.XXXX XXXX. distribution adding quarter during with was a times, continue first times. our to the With around level fourth distribution distribution ratio, consistent target declared quarter. of the Our ratio build range unit, million
guidance. now Turning to
unchanged. full our mentioned, As guidance year XXXX is
of and distribution full be EBITDA to be expect to adjusted range fourth our with XXXX, we of expect ratio assuming As at cash to times. XXXX target coverage a a end consistent X.X distribution X.X for level consistent available top of our reminder, quarter distribution broadly the XXXX. And with the we year
to Looking gross onshore and quarter offshore both, of broadly expect we to the with pipeline XXXX, quarter. be throughput second first consistent the
pipelines, similar offshore level of For expect second offshore the we in a maintenance quarter. producers by
be Rouge and cash from EBITDA available offset reflecting seasonal For method to quarter, on expect than the first lower diluent be our for River throughput to as equity onshore to returns pipelines, higher are distribution quarter, the second higher on and levels. we by Diamondback throughput Adjusted distributions demand BPX normal investments. more in higher forecasted
expect we’re range the our your be We ready X.X to distribution With you that comfortably to Thank target questions. again coverage take joining to times. now X.X our for today. ratio within call of
you results Investor available As of to speak with Relations further this outside team are call. usual, our
