Good morning, and welcome to the Delek Logistics Partners 2022 third quarter conference call. All participants will be in a listen-only mode today. Should you need any 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 your telephone keypad. To withdraw your question, please press star, then two. Please note that this event is being recorded today. 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' third quarter 2022 financial results. Joining me on today's call will be Avigal Soreq, President, Reuven Spiegel, Chief Financial Officer, Todd O'Malley, Executive Vice President and Chief Operating Officer, 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 recently filed Annual Report Form 10-K and 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 Avigal Soreq. Reuven will then provide financial overview. Todd will review results, and then we'll have a Q&A session. With that, I'll turn the call over to Avigal Soreq.
Thanks, Blake. DKL had a record EBITDA this quarter. We continued to build momentum on several fronts. Our legacy Permian gathering business met our previously stated targets, which was to double volume between Q4 of 2021 to September of 2022. This remains a growth engine for our company. I want to give you an update on our 3 Bear acquisition. We are pleased with the progress of the integration. The assets are performing in line with our initial expectations, and we're excited about additional growth opportunities. The geographic and product line diversity provided from the acquisition should serve us well into the future tactically and strategically. Additionally, our business is benefiting from a strong refinery utilization rates at the Delek U.S. level. From a macro perspective, the energy industry has recovered from the pandemic, and we are optimistic on the outlook for the midstream business.
I look forward to updating you next quarter. With that, I will turn the call over to Reuven.
Thank you, Avigal Soreq. Our distributable cash flow, as adjusted for 3 Bear transaction costs, was approximately $70 million in the third quarter, compared to $56 million in the third quarter of 2021. Our DCF coverage ratio, as adjusted for transaction costs, improved to 1.62x for the third quarter. EBITDA was $89 million, which includes $4.2 million of transaction costs associated with the 3 Bear acquisition. Our board approved an increase in the quarterly distribution to $0.99 per limited partner unit for the quarter ended September thirtieth. This distribution will be paid on November tenth to unit holders of record on November fourth, and this represents 39 consecutive quarters of distribution increases and we remain on track to deliver on our 5% increase year-over-year.
At September 30th, DKL had $193 million of available capacity on the $1 billion credit facility. Our total debt was $1.45 billion. In October, DKL extended its credit facility to $1.2 billion, including senior secured revolving commitment of $900 million with a maturity date in October 2027, and a new secured term loan of $300 million with a maturity date in October 2024. Now, I will turn the call over to Todd to discuss the results.
Thanks, Reuven. The 3 Bear operating segment had a contribution margin of $18.1 million in the third quarter. Moving forward, we plan to combine results from our legacy Delek Permian gathering system with the 3 Bear assets to better reflect overall gathering and processing performance for the company. In our Pipelines and Transportation segment, the third quarter of 2022 contribution margin was $54 million compared to $47.4 million in the third quarter of 2021. The increase was attributable to strong refinery utilization rates at the Delek U.S. refineries and annual tariff escalations on our pipelines. In our Wholesale Marketing and Terminalling segment, the contribution margin was $18.3 million in the third quarter compared to $19.6 million in the third quarter of 2021. The decrease was primarily driven by higher operating costs, resulting in lower margins.
During the third quarter of 2022, equity income from our crude oil pipeline JVs was approximately $8.6 million compared to $7.3 million in the prior year period. This increase was mainly driven by strong volumes at both Caddo and Red River joint ventures. Moving to capital expenditures, we spent approximately $32.2 million in the third quarter of 2022, which consisted of $31.3 million of growth spending and $900,000 for sustaining maintenance. The outlook for 2022 includes total gross capital expenditures of $116.9 million, including $110.5 million of growth and $6.4 million of maintenance capital. This includes spending associated with the 3 Bear assets. I would point out that the company's growth capital is predominantly focused on expanding the gathering and processing businesses.
With that, operator, can you please open the call for questions?
We will now begin the question-and-answer session. To ask a question, you may press star then one on your telephone keypad. If you're using a speakerphone, 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 here will come from Michael Cusimano with Pickering Energy Partners. Please go ahead.
Hey, good morning, everyone, and congrats on achieving the Permian growth target.
Thanks, Michael.
On that front, can you update us on the trajectory from here going forward?
Yeah, Michael, this is Todd. At this point, we are not ready to disclose any incremental hard numbers. Suffice it to say that we continue to see active and robust growth in both the preexisting Delaware Permian gathering footprint as well as in the 3 Bear footprint. In particular, inside the 3 Bear footprint, we see a strong growth profile across all three business lines, the natural gas, the water, and the oil. I think that's kind of where we'd leave it today.
Yeah. Just to build on Todd's comment, it's Avigal. I think that in our area on the DPG, we've seen a very nice increase of rigs, kind of alluded to what we're gonna see during 2023. We are very optimistic about our acreage and producers.
Got it. Okay. That's very helpful. If I can follow up on the 3 Bear side. We saw, you know, pretty strong quarter-to-quarter sequential volume growth. I'm wondering if we are ahead of schedule on the ramp up there, or is that like a decent growth trajectory until you get to your, I guess like what you underwrote the acquisition on?
Hey, Michael, it's Blake. Yeah. We are very encouraged so far. The integration is going really well. As you know, when we kind of put the original acquisition targets out there, they were fairly robust. At this point, you know, we feel very comfortable that we're on target and in line with our expectations. We're not changing anything, but the communication is that we're very pleased with the progress so far.
Great. That's all for me. Appreciate the help, guys.
Thanks, Michael.
Thanks, Michael.
Again, if you have a question, you may press star then one to join the queue. With no further questions, we will conclude our question-and-answer session. I would now like to turn the conference back over to Avigal Soreq for any closing remarks.
I want to thank the management team around the table. I'm very proud of the DKL performance. It's a record quarter. I want to thank the investors that are with us for the long term, and most and foremost to our employees that are doing days and nights to make this company as good as it is. Thank you so much, and we'll talk again next quarter.