Ladies and gentlemen, thank you for standing by, and welcome to the Second Quarter Fiscal Year 2020 NGL Energy Partners LP Earnings Conference Call. [Operator Instructions] After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]
I would now like to introduce your host for today's program Trey Karlovich, Chief Financial Officer. Please go ahead, sir.
Great. Thank you, and welcome everybody. As a reminder, this conference call includes forward-looking statements and information. Words such as anticipate, project, expect, plan, goal, forecast, intend, could, believe, may and similar expressions and statements are intended to identify forward-looking statements. While NGL Energy Partners believes that its expectations are based on reasonable assumptions, there can be no assurance that such expectations will prove to be correct. The number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations included in the forward-looking statements.
These factors include: prices and market demand for natural gas, natural gas liquids, refined products and crude oil; level of production of crude oil, natural gas liquids and natural gas; the effect of weather conditions on demand for oil, natural gas and natural gas liquids; and the ability to successfully identify and consummate growth opportunities and strategic acquisitions at costs that are accretive to financial results; and to successfully integrate and operate assets and businesses that are built or acquired.
Other factors that could impact these forward-looking statements are described in risk factors in the Partnership's annual report on Form 10-K, quarterly reports on Form 10-Q and other public filings and press releases. NGL Energy Partners undertakes no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise.
This conference call also includes certain non-GAAP measures, namely EBITDA, adjusted EBITDA and distributable cash flow, which management believes are useful in evaluating our financial results. Please see the Partnership's earnings releases, investor presentations and annual and quarterly reports on Form 10-K and Form 10-Q on our website at www.nglenergypartners.com under the Investor Relations tab for more information on our use of non-GAAP measures as well as reconciliations of differences between any non-GAAP measures discussed on this conference call to the most directly comparable GAAP financial measures.
We have on the call with us today our CEO, Mr. Mike Krimbill, as well as our Executive Vice President of Water Solutions, Doug White.
I will now turn the call over to Mike for his prepared remarks.
Great. Thank you, Trey, and Doug jump in whenever you think appropriate. This has been an incredible quarter of significant achievements for NGL. We close the Mesquite acquisition, the largest water solutions company in the Delaware with capacity of 1 million barrels per day disposal 95% piped and long-term contracts with large producers. Then we signed the Hillstone PSA, which has one of the best producer contract profiles, MVCs 10 year to 20 year acreage dedications with large credit-worthy producers. And next, we closed on the sale of our Refined
Chief Financial Officer
Chief Executive Officer
Executive Vice President, Water Solutions
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