Good day, and welcome to the Delek Logistics second quarter 2022 conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Blake Fernandez. Please go ahead.
Morning. I would like to thank everyone for joining us on this webcast to discuss Delek Logistics Partners' second quarter 2022 financial results. Joining me on today's call will be Uzi Yemin, our General Partner's Chairman, Avigal Soreq, President, Reuven Spiegel, CFO, and other members of our management team. As a reminder, this conference call will contain forward-looking statements as that term is defined under Federal Securities laws, including without limitation, statements regarding guidance and future business outlook. These statements involve risks and uncertainties that may cause actual results or trends to differ materially from our forecast. For more information, please refer to the risk factors discussed in the company's most recent filing, annual report, and Form 10-K or quarterly report on Form 10-Q filed with the SEC, along with the press release associated with this call.
The company assumes no obligation to update any forward-looking statements or information which speak as of their respective dates. On today's call, we'll begin with comments from both Uzi and Avigal. Reuven will provide a financial overview, and I will review results, and then we'll have a Q&A session. With that, I'll turn the call to Uzi.
Thanks, Blake, and good morning, everybody. DKL has delivered consistent results through various business cycles. Elevated global commodity prices and geopolitical unrest underscore the benefits and reliance upon traditional energy assets, including midstream infrastructure. DKL is well-positioned to benefit from increasing activity in the Permian Basin, and the 3Bear assets offer additional growth opportunities both geographically and in new product lines. The significant increase in third-party revenue from the transaction helps propel DKL towards more of a true standalone entity. This should help distinguish DKL from other sponsor-based MLPs and attract capital with a diminishing number of MLP investment options. The company is positioned well, and this is an opportune time to hand the reins to our new president, Avigal Soreq.
Thank you, Uzi, and it's great to be back at Delek. Unitholder returns have been a critical part of the DKL story since going public. We increased the quarterly distribution 38 x in a row, and we remain on track to deliver a 5% increase year-over-year. On an annual basis, this puts our dividend yield around 7%. On June 1st, we closed the 3Bear acquisition. I would like to welcome the 3Bear team to the Delek family. This is an exciting addition to our portfolio that adds increased third-party revenue, expanded product mix into natural gas and water, and widens our footprint into the Delaware Basin. On our legacy Permian gathering system, we continue to see a strong demand from producers and expect ongoing volume increases.
The outlook remains solid, and we are focused on operating the asset safely and reliably while integrating the new 3Bear assets. I'm looking forward to working closely with our team to continue to produce positive results for our unitholders and maximize the value of the company. Finally, I would like to thank Uzi for many years of leadership and mentorship. With that, I will turn the call over to Reuven.
Thank you, Avigal. Our distributable cash flow, as adjusted for 3Bear transaction cost, was approximately $56 million in the second quarter of 2022. That compared to $54 million in the second quarter of 2021. Our DCF coverage ratio, as adjusted for transaction cost, was 1.3 x for the second quarter compared to 1.32 x for the prior year period. EBITDA was $65 million, which includes $6.2 million of transaction costs associated with the 3Bear acquisition. Our board approved an increase in the quarterly distribution to $0.985 per limited partner unit for the quarter ended June 30th. This distribution will be paid on August 11 to unitholders of record as of August 4th, 2022, and we remain on track to deliver our 5% target year-over-year.
At June 30th, 2022, DKL had $119 million available capacity on our $1 billion credit facility. Our total debt was $1.5 billion, and the total leverage ratio was approximately 4.7 times, which is well within the 5.5 times currently allowable under our credit facility. Please note that the balance sheet reflects the 3Bear acquisition, which closed on June 1st. This resulted in an increase in the leverage ratio, which we expect to reduce over time. Now I will turn the call over to Blake to discuss the results.
Thanks, Reuven. In our pipelines and transportation segment, the second quarter 2022 contribution margin was $48.4 million, compared to $45.2 million in the second quarter of last year. The increase was primarily attributable to strong refinery utilization rates at Delek US. In our wholesale marketing and terminaling segment, contribution margin was $16 million in the second quarter of this year, compared to $19 million in the second quarter of last year. The decrease was primarily driven from lower margins in the West Texas wholesale business. During the second quarter of 2022, equity income from our crude oil joint venture pipelines was approximately $7.1 million compared to $6.6 million in the prior year. This increase was mainly driven by strong volumes at both Caddo and Red River joint ventures. Moving to capital expenditures.
We spent around $26.7 million in the second quarter of this year, which consisted of $26.3 million of growth spending and $400,000 for sustaining maintenance. The outlook for 2022 includes total gross capital expenditures of $116 million, including $108 million of growth and $8 million of maintenance capital. This reflects the early closing of the 3Bear acquisition and additional growth opportunities in the legacy Permian gathering business. Based on strong producer demand, we now expect to double DPG volumes from the fourth quarter of 2021 levels by the end of the third quarter of 2022. With that, operator, can you please open the call for questions?
Thank you. We will now begin the question and answer session. To ask a question, you may press Star then One on your touch tone phone. If you are using a speaker phone, please pick up your handset before pressing the keys. If at any time your question has been addressed and you would like to withdraw your question, please press Star then Two. At this time, we will pause momentarily to assemble our roster. Our first question comes from Michael Cusimano with Pickering Energy Partners. Please go ahead.
Hey, good morning, everyone. I really just want to add one question on the doubling the Permian gathering volumes. You know, quarter to quarter, it looks like volumes were a little flat, so I was hoping you could talk through what that ramp looks like and maybe some of the drivers driving the big hockey stick, if you will, going into next quarter.
Sure. This is Odely. I think what you need to look at is both what we see both on the pipeline and also on the trucking. This is also what we looked on both on Q4 and also what we expected to have in Q3. If we're combining both the pipeline production along with also the trucking production, this is where we're getting into those levels.
Okay. Got it. That's helpful. Thank you.
Thanks, Michael.
I see no questions at this point. This concludes the question and answer session. I would like to turn the conference back over to Avigal Soreq for any closing remarks.
Thank you. I would like to thank the investors for trusting in us and joining the call. To the management here around the table that worked very hard on this quarter, with the big support of the board and mostly our employees. Thank you so much, and we'll talk next quarter.