DTM Midstream, Inc. (NYSE:DTM) Q1 2022 Earnings Conference Call May 5, 2022 9:00 AM ET

Company Participants

Todd Lohrmann - Director of IR

David Slater - President & CEO

Jeff Jewell - EVP, CFO and CAO

Conference Call Participants

Jeremy Tonet - JPMorgan

Michael Blum - Wells Fargo

John Mackay - Goldman Sachs

Robert Mosca - Mizuho Securities

James Carreker - U.S. Capital Advisors

Operator

Good morning. My name is Chris, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the DT Midstream Q1 2022 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks there will be a question and answer session. [Operator Instructions] Thank you.

Todd Lohrmann, Director of Investor Relations. You may begin.

Todd Lohrmann

Good morning, and welcome, everyone. Before we get started, I would like to remind you to read the safe harbor statement on Page 2 of the presentation, including the reference to forward-looking statements.

Our presentation also includes references to non-GAAP financial measures. Please refer to the reconciliations to GAAP contained in the appendix. Joining me this morning are David Slater, President and CEO; and Jeff Jewell, Executive Vice President and CFO.

I'll now turn it over to David to start the call.

David Slater

Thank you, Todd, and good morning, everyone, and thanks for joining. On today's call, I'll start by highlighting some of our key results this quarter, then discuss the constructive fundamentals that are playing out around our assets, and our execution on previously announced projects.

I'll pass it over to Jeff to review our first quarter financial results, and then I will close with some remarks on our future opportunities.

So with that, we had a strong first quarter performance that puts us firmly on track for our plan for the year, and we are highly confident in our ability to achieve our 2022 guidance. Our commercial team was very busy advancing our investment plan. On our Appalachia Gathering System, we reached agreements with two existing customers that will result in an attractive incremental expansion, with approximately 200 million a day of added system capacity, a significant term extension and an expansion of dedicated acreage.

On our NEXUS pipeline, we executed a 5-year contract for $100 million a day of capacity with an investment-grade shipper at attractive rates. We are also advancing our ESG-focused initiatives, which are a priority for us.