NGL Energy Partners LP (NGL) Q4 2025 Earnings Call

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WEBVTT 00:00:00.385 -- 00:00:05.731 Greetings. Welcome to the NGL Energy Partners 4Q25 earnings call. 00:00:05.731 -- 00:00:08.374 At this time, all participants are in a listen-only mode. 00:00:08.374 -- 00:00:11.718 A question and answer session will follow the formal presentation. 00:00:11.718 -- 00:00:14.922 If anyone should require operator assistance during the conference, please press star 00:00:14.922 -- 00:00:19.687 zero on your telephone keypad. Please note, this conference is being recorded. 00:00:19.687 -- 00:00:23.151 I will now turn the conference over to your host, Brad Cooper, CFO. 00:00:23.151 -- 00:00:25.431 You may begin. 00:00:25.994 -- 00:00:29.613 Good afternoon, and thank you to everyone for joining us on the call today. 00:00:29.613 -- 00:00:34.359 Our comments today will include plans, forecasts, and estimates that are forward-looking 00:00:34.359 -- 00:00:39.064 statements under the U.S. securities law. These comments are subject to assumptions, 00:00:39.064 -- 00:00:43.850 risks, and uncertainties that could cause actual results to differ from the forward-looking 00:00:43.850 -- 00:00:48.456 statements. Please take note of the cautionary language and risk factors provided in 00:00:48.456 -- 00:00:52.748 our presentation materials and our other public disclosure materials. 00:00:52.748 -- 00:00:56.433 Before I start discussing our fourth quarter and full year results, I would like to thank 00:00:56.433 -- 00:01:01.781 the NGO employees for executing on our strategic initiatives and executing on the non-core 00:01:01.781 -- 00:01:07.687 asset sales that have positioned the partnership quite well heading into fiscal 2026. 00:01:08.210 -- 00:01:12.777 As we announced in the May 5th press release, we closed on the sale of the 18 natural 00:01:12...