Good afternoon and thank you for joining us today for Altus Midstream’s third quarter 2021 conference call. On the call today, I will begin with a brief review of our operating performance and provide background on the new gas processing agreement between Altus and Apache. Then I will discuss the business combination with EagleClaw that we announced two weeks ago, highlighting what it offers investors, customers and other stakeholders. Ben will provide more information on that transaction and a review of our financial results. Following that we will move on to questions and answers from the sell-side community. Given the disclosure made last month, the strong performance Altus achieved during the third quarter could easily be overlooked. But it deserves recognition. As noted in the news release issued yesterday, we continue to make steady progress on the key performance metrics that we’ve guided to for the year. Both our Joint Venture Pipeline and Gathering and Processing businesses have contributed to strong in the third quarter. GMP volumes, growth CapEx and adjusted EBITDA are all in line with our annual guidance. The joint venture pipelines continued to contribute to our results with the minimum volume commitments on the natural gas pipelines, providing stable, predictable cash flow. Our liquids pipelines are well positioned for volume growth as activity returns to the basin. Moving now to our Gathering and Processing business. Gas processing volumes were up slightly about 1% compared with the proceeding period. This reflects the full three months contribution from the DUCs recently brought online at Alpine High in 2021, offsetting the natural decline from legacy production. No new wells were added during the quarter and we had no material disruptions or other events that impacted our operations. Our operations team has done an excellent job focusing on cost structure, identifying and capturing efficiencies across the system and maintaining the strict discipline necessary to operate safely and responsibly. During the third quarter for the first time in two years, operating expenses were higher than the proceeding period. The main factors contributing to the increases were all non-routine in nature, including maintenance work associated with out of service equipment, weather related road and right away repairs and inventory cleanup. A further increase in costs during the quarter was related to servicing a new compressor lease with Apache. These increased lease costs are more than offset by the related lease income. Importantly, despite these higher costs during the quarter, we remain on track for a 15% year-over-year reduction in operating cost. Last month, we signed a new gas processing agreement with Apache and announced our combination with EagleClaw Midstream. The updated processing agreement contains modified gas processing fees for new volumes that are more consistent with the current market. The circumstances that existed when the original agreement was signed have changed dramatically. And the outdated terms, impacted our ability to attract new business from both Apache our existing customer and third-party producers and midstream companies. With these new terms for gas processing, Apache is further incentivized to initiate new development activity at Alpine High and with the removal of contractual constraints that limited the infrastructure capacity to serve other operators, third-parties can now be assured that they have access to capacity on our facilities under current market terms. Since we formed out this midstream in 2018, our goal was to create a pure-play midstream company in the Permian and grow the business to support all of Apache’s gas gathering processing, and transportation assets at Alpine High. As the business evolved, we continued to seek new opportunities to grow and compete for third-party opportunities. We have created a very successful business, literally from the ground up building a team of midstream specialists operating state-of-the-art gas processing facilities and investing in four of the newest Permian to Gulf Coast pipelines. Through the quarter, the Altus team has worked over 2.5 years without a reportable incident. As we pursued new business, we didn’t limit ourselves to just E&P companies. We engaged with other mainstream service providers in the effort to fully utilize our facilities. In the past year, we have found that the vast majority of acreage proximal to our Alpine High gathering system was dedicated to other gas processors. These leases were under long-term contracts that locked up otherwise suitable and economic midstream opportunities. This dynamic occurred frequently during the height of Permania and the shale drilling frenzy. Understanding this competitive landscape, we recognize the necessity of working with a midstream company one that had commitments and infrastructure, including a vast network of pipelines in the Delaware basin. We evaluated a wide range of strategic alternatives for creating long-term value. This effort prioritized a number of factors, including the protection of the $6 annualized dividend implemented this year, addressing debt and preferred equity financings and prudently and efficiently growing a sustainable profitable business. The transaction with EagleClaw meets those criteria. The opportunity to combine our assets is a great next step for Altus. I have watched the growth of EagleClaw for several years and I’m impressed with what their management and operations teams have accomplished. They have built a competitive and diverse ministering business in West Texas. Their asset footprint and client base are extensive and strategically located in the core of the Delaware basin. I always thought EagleClaw system would be a great compliment in the Altus Midstream footprint. EagleClaw has done an impressive job of maintaining and growing contracts. They currently serve over 30 customers with 14 drilling rigs on their area of dedication today, much of the A&D and M&A activity that has recently transacted in the Delaware basin has been on the nearly 800,000 acres dedicated to EagleClaw. This transaction outlines a clear path for growth and use of Altus’ excess processing capacity. The combined company is expected to have a lower risk profile than either company on a standalone basis. A new management team led by Jamie Welch’s President and CEO will take on executive management responsibilities at Altus following the close of the transaction. Jamie and his team are aligned with the core objectives of Altus, including returning capital to shareholders and operating in an environmentally responsible manner. Our combination provides a scale and operational capabilities necessary for long-term success. The combination of Altus and EagleClaw will create the largest pure-play midstream company in the Permian Basin. It will become the largest gas processor in the Delaware basin and third largest in the Permian. We expect the transaction to close during the first quarter next year, following customary reviews and regulatory approval. This transaction is really about the efficient utilization of assets in the Delaware basin. The new company is better positioned for the rebound and activity across the basin with long-term growth opportunities. Commodity prices are improving and production activity is accelerating in the Texas, Delaware basin, making this an opportune time to take advantage of market conditions by expanding our processing and transportation capabilities for oil, gas, and NGLs. The combination truly creates a leading pure-play Permian integrated midstream company with a capital return focus. Ben, over to you.
