Crestwood Equity Partners LP (NYSE:CEQP) Q1 2023 Earnings Conference Call May 2, 2023 9:00 AM ET
Company Participants
Bob Phillips - Founder, Chairman and Chief Executive Officer
Robert Halpin - President
Johnny Black - Executive Vice President and Chief Financial Officer
Diaco Aviki - Executive Vice President and Chief Operating Officer
Conference Call Participants
Tristan Richardson - Scotiabank
Ned Baramov - Wells Fargo
Neal Dingmann - Truist Securities
Elvira Scotto - RBC Capital Markets
Operator
Good morning, and welcome to today's conference call to discuss Crestwood Equity Partners First Quarter 2023 Financial and Operating Results.
Before we begin the call, listeners are reminded that company may make certain forward-looking statements as defined in the Securities and Exchange Act of 1934 that are based on assumptions and information currently available at the time of today's call. Please refer to the company's latest filings with the SEC for a list of risk factors that may cause actual results to differ.
Additionally, certain non-GAAP financial measures, such as EBITDA and adjusted EBITDA, distributable cash flow and free cash flow, will be discussed. Reconciliations to the most comparable GAAP financial measures are included in the news release issued this morning.
Joining us on today's call with prepared remarks are Founder, Chairman and Chief Executive Officer, Bob Phillips; President Robert Halpin; and Executive Vice President and Chief Financial Officer, Johnny Black. Additionally, additional members of the management team are available for the question-and-answer session with Crestwood's current analyst following the prepared remarks.
Today's call is being recorded. [Operator Instructions]
At this time, I will turn the call over to Bob Phillips.
Bob Phillips
Thank you, operator, and good morning, everyone. Thank you for joining us today to discuss our first quarter 2023 results and little discussion on how we're positioned for the rest of the year.
I'll begin by a few opening remarks and then turn it over to Robert for an operational review of the quarter, and then finally, Johnny, to review the first quarter financial results in more detail.
As I start, as a reminder, when we -- we went into a lot of detail last quarter about our strategic M&A, but let me just give you a reminder that we have repositioned the Crestwood portfolio in the last couple of years through strategic M&A, specifically to bulk up our G&P assets in the areas that we operate and extend our long-term producer dedicated inventory in those core oil-weighted resource plays, which are the Williston, Delaware and Powder River basins.