Q4 2021 Rattler Midstream LP Earnings Call

Thank you for standing by and welcome to Rattler Midstream fourth quarter 2021 conference call. At this time all participants are in a listen only mode. After the speaker presentation. There will be a question and answer session to ask a question. During the session you will need to press star one on your telephone please be able.

Today's conference is being recorded.

Should you require any further assistance. Please press star zero I would now like to hand, the call over to Adam Lawlis, Vice President of Investor Relations. Please go ahead.

Thank you Latif and good morning, and welcome to Rattler Midstream fourth quarter 2021 conference call.

During our call today and your reference an updated investor presentation, which can be found on <unk> website reps.

Representing rattler today are Travis Stice, CEO and case vans Hoff President.

During this conference call. The participants may make certain forward looking statements relating to the company's financial condition.

<unk> of operations plans objectives future performance and businesses. We caution you that actual results could differ materially from those that are indicated in these forward looking statements due to a variety of factors.

Information concerning these factors can be found in the company's filings with the OCC in.

In addition, we will make reference to certain non-GAAP measures.

The reconciliations with the appropriate GAAP measures can be found in our earnings release issued yesterday afternoon.

I'll now turn the call over to Travis Stice.

Thank you Adam welcome everyone and thank you for listening to Rattler midstream fourth quarter earnings call.

The fourth quarter of 2021 was another great operational quarter with volumes, increasing sequentially from the third quarter, while operational expenses and Capex remained constrained.

The resulting free cash flow of $54 million from the fourth quarter of 2021 continued the strong performance of the business.

It generated a total of $260 million in free cash flow for the full year 2021.

This free cash flow was largely returned to shareholders in the form of rattler distribution and common common unit repurchase program.

But were also executed a series of strategic transactions during the quarter.

That repositioning the company for growth, while maintaining a strong financial position.

During the fourth quarter Rattler divest its operated gas gathering assets and acquired an interest in the W. T. G gas processing business. In addition to purchasing substantially all water midstream assets owned by Diamondback.

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