Michael Blum

“I wanted to ask about the Durango agreements that you amended and extended here. How do we think about the incremental EBITDA contribution for 26 and beyond? And with these new agreements, does this change at all the mix of your contract portfolio between fee versus POP or just your overall commodity exposure?”

“I wanted to ask a couple more questions on the guidance. First, can you remind us how much open capacity you have to capture Waha basis spreads and what Waha spread is assumed in the guidance?”

“And then the Bakken, Rockies, and Mid-Continent processing volume guidance on slide 16, the ranges are fairly wide. So I wonder if you could just speak to what you think will drive that towards the lower, higher end of those ranges and things.”

“Maybe you could stay on the distribution coverage conversation. I really just wanted to get a little more of your thought process on how you landed at 1.5 and, you know, not 1.4, 1.3, just exactly, is there any kind of formulaic way we should, thinking about this?”

“Sorry to do this, but I wanted to go back to the Waha issue for a second, just more of a clarification, I think, for me. So you've secured some additional capacity to the Gulf Coast in 2028.”