ADDED
At February 20, 2026, there were 53,512,343 common limited partner units.
Management's Discussion and Analysis of Financial Condition and Results of Operations 57 Item 7A.
Gathering and Processing Wholesale Marketing and Terminalling Storage and Transportation Investments in Joint Ventures Approximately 1,326 miles of crude and refined product pipeline (1) Approximately 10.0 million barrels of active shell capacity Approximately 310 MBbl/d of water disposal capacity Approximately 1,015 MBbl/d of operations capacity Approximately 195 MMcf/d of gas processing capacity 9 light product distribution terminals Approximately 1.3 million barrels active shell capacity Sales of wholesale products in the West Texas market.
161 tractors and 306 trailers Crude oil pipeline joint ventures: Andeavor Logistics Rio Pipeline LLC ("Andeavor Logistics") Caddo Pipeline LLC ("CP LLC") Red River Pipeline Company LLC ("Red River") Wink to Webster Holdings, LLC ("W2W Holdings") (1) Excludes approximately 462 miles of decommissioned gathering system pipeline.
The following chart illustrates the Partnership's current structure: 7 | Business and Properties Our Vision We are a full-suite provider offering integrated crude, gas and water services to the Partnership's customers in the Permian basin.
These core values are integrated into daily operations, fostering a culture of continuous improvement and alignment with our strategic goals.
The Delaware Gathering Assets support our crude oil and natural gas gathering, treatment, acid gas injection, processing, and transportation businesses, including operations at the Libby 1 and Libby 2 processing plants, as well as water disposal and recycling operations, located in the Delaware Basin of New Mexico, and serving primarily third-party producers and customers.
A substantial majority of these revenues are derived from commercial agreements with Delek Holdings with terms of five or more years, which gives us a contractual revenue base that we believe enhances the stability of our cash flows.
Competition The Permian Basin has been one of the most prolific oil and gas producing regions in the United States ("U.S.").
We primarily operate our gathering and processing operations in the Delaware and Midland Basins within the Permian Basin.
REMOVED
At February 20, 2025, there were 53,667,523 common limited partner units.
Management's Discussion and Analysis of Financial Condition and Results of Operations 60 Item 7A.
Gathering and Processing Wholesale Marketing and Terminalling Storage and Transportation Investments in Joint Ventures Approximately 2,204 miles of crude and refined product pipeline (1) Approximately 10.0 million barrels of active shell capacity Approximately 310 MBbl/d of water disposal capacity Approximately 945 MBbl/d of operations capacity Approximately 88 MMcf/d of gas processing capacity 9 light product distribution terminals Approximately 0.9 million barrels active shell capacity Sales of wholesale products in the West Texas market.
161 tractors and 306 trailers Crude oil pipeline joint ventures: Andeavor Logistics Rio Pipeline LLC ("Andeavor Logistics") Caddo Pipeline LLC ("CP LLC") Red River Pipeline Company LLC ("Red River") Wink to Webster Holdings, LLC ("W2W Holdings") (1) Includes approximately 240 miles of leased capacity and 489 miles of decommissioned gathering system pipeline.
The following chart illustrates the Partnership's current structure, which reflects the issuance of 2,175,209 common limited partner units on January 2, 2025, in connection with the closing of the Gravity Acquisition: 7 | Business and Properties Our Vision Our core vision is to be a full suite (crude, gas and water) service provider to the Partnership's customers in the Permian basin.
For these reasons, in partnership with our sponsor Delek Holdings, we have developed a Long-Term Sustainability Framework , representing a continuously evolving foundation out of which we identify our strategic objectives and initiatives, which collectively form our Long-term Sustainability Strategy for 2025.
Long-Term Sustainability Framework: Key Initiatives Integral to our Long-Term Sustainability Framework and the achievement of the initial overarching objectives are the following key initiatives : Maintain safe, reliable, and environmentally responsible operations.
Create shareholder value by rewarding our shareholders with a competitive long-term capital allocation framework.
Continuous evaluation of our business model in terms of long-term economic and operational sustainability.
8 | Business and Properties Core Strategy The Partnership is positioned to be a full-suite service provider, delivering crude, gas, and water solutions to our customers in the Permian Basin.