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Phillips 66 Partners LP (PSXP) Q1 2020 Results - Earnings Call Transcript

May 01, 2020 7:03 PM ETPhillips 66 (PSX)
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Phillips 66 Partners LP (PSXP) Q1 2020 Earnings Conference Call May 1, 2020 2:00 PM ET

Company Participants

Jeffrey Dietert - Vice President of Investor Relations

Kevin Mitchell - Vice President and Chief Financial Officer

Rosy Zuklic - Vice President and Chief Operating Officer

Timothy Roberts - Vice President of Operations

Conference Call Participants

Spiro Dounis - Credit Suisse

Robert Mosca - Mizuho


Welcome to the First Quarter 2020, Phillips 66 Partners Earnings Conference Call. My name is David, and I will be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. Please note that this conference is being recorded.

I will now turn the call over to Jeff Dietert, Vice President, Investor Relations. Jeff, you may begin.

Jeffrey Dietert

Good afternoon, and welcome to Phillips 66 Partners first quarter earnings conference call. Participants on today's call will include Kevin Mitchell, Vice President and CFO; Tim Roberts, Vice President, Operations; and Rosy Zuklic, Vice President and Chief Operating Officer.

Today's presentation materials can be found on the events section of the Phillips 66 Partners website along with supplemental financial and operating information. Slide 2 contains our safe harbor statement. We will be making forward-looking statements during the presentation in our Q&A session. Actual results may differ materially from today’s comments. Factors that could cause actual results to differ are included here as well as in our SEC filings.

With that, I'll turn the call over to Kevin Mitchell.

Kevin Mitchell

Thank you, Jeff, and good afternoon, everyone. During the first quarter, Phillips 66 Partners delivered solid financial results, operating lively and safely and advanced growth projects. We achieved the major milestone in April with Gray Oak Pipeline starting full operations.

The Board of Directors approved a

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