Welcome to our dedicated page for Enlink Midstream news (Ticker: ENLC), a resource for investors and traders seeking the latest updates and insights on Enlink Midstream stock.
This page provides a curated feed of news and disclosures related to EnLink Midstream, LLC (ENLC), a Dallas-headquartered midstream energy company that provides integrated infrastructure services for natural gas, crude oil, NGLs, and CO2 transportation for carbon capture and sequestration (CCS). Company and partner releases highlight EnLink’s activities across its major operating areas in the Permian Basin, Louisiana, Oklahoma, and North Texas.
News items for ENLC commonly include transaction and corporate structure updates, such as ONEOK, Inc.’s agreement to acquire all remaining publicly held EnLink common units and the subsequent unitholder approval of that transaction. Index provider announcements have also referenced EnLink’s removal from certain pipeline and decarbonization infrastructure indices as a result of the acquisition process.
Operational updates feature segment performance and volume trends in natural gas gathering and processing, crude gathering, NGL fractionation, and natural gas transportation. EnLink’s quarterly results coverage discusses segment profit, adjusted EBITDA, free cash flow after distributions, and contract activity, including long-term transportation capacity delivering natural gas to end users in Louisiana.
Because ONEOK is the managing member of EnLink and has moved to acquire the remaining public units, ENLC-related news increasingly appears in joint releases with ONEOK. Visitors can use this news stream to follow developments in EnLink’s midstream operations, its role within ONEOK’s broader energy infrastructure portfolio, and historical milestones affecting the ENLC ticker. Bookmark this page to access an organized archive of ENLC news, from financial updates to major corporate actions.
WhiteWater, EnLink Midstream (NYSE: ENLC), Devon Energy (NYSE: DVN), and MPLX LP (NYSE: MPLX) have finalized the investment decision for the Matterhorn Express Pipeline, set to transport 2.5 billion cubic feet of natural gas per day across 490 miles from Texas to Houston. This project aims to enhance gas transportation from the Permian Basin and is expected to be operational by Q3 2024, subject to regulatory approvals. The partnership emphasizes increasing production capacity while minimizing flared volumes in West Texas.
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EnLink Midstream reported strong first quarter 2022 results, with net income of $66 million and adjusted EBITDA of $304.3 million, up 22% YoY. The company generated $307.7 million in net cash from operations and $104.9 million in free cash flow after distributions. EnLink raised its full-year guidance, now expecting net income of $315-$375 million and adjusted EBITDA of $1.19-$1.25 billion. The company plans $325-$365 million in capital expenditures, emphasizing growth in its carbon capture and transportation business through a new agreement with Oxy Low Carbon Ventures.
EnLink Midstream and Oxy Low Carbon Ventures have signed a letter of intent for a Transportation Services Agreement to transport CO2 along the Mississippi River in Louisiana. EnLink will leverage existing and new pipeline infrastructure to facilitate this service, linking industrial emitters to OLCV's sequestration facility in Livingston Parish. The corridor is noted for its high industrial CO2 emissions. This collaboration aims to advance carbon management solutions and align with net-zero goals.
EnLink Midstream announced a cash distribution of $0.1125 per common unit for Q1 2022, consistent with the previous quarter. The distribution is payable on May 13, 2022, to unitholders of record on April 29, 2022. Additionally, the company will hold a conference call on May 4, 2022, at 8 a.m. CT to discuss its Q1 earnings. The quarterly report will be available on the company's website after market close on May 3, 2022.
EnLink Midstream has expanded its Carbon Solutions Group by appointing Robert "Bob" Purgason as Managing Director. Purgason, a seasoned energy expert with over 40 years of industry experience, is expected to leverage his extensive connections and business development skills to enhance EnLink's carbon capture, transportation, and sequestration (CCS) initiatives. Chairman and CEO Barry Davis emphasized the importance of strategic leadership in scaling the CCS business, which is seen as a significant opportunity in the energy transition.
EnLink Midstream (NYSE: ENLC) has filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2021, with the SEC. The complete report is available on their website under the 'Investors' section. Unitholders can request a free hard copy of the audited financial statements. EnLink operates a differentiated midstream platform focused on creating long-term value through natural gas and crude oil services in key production areas like the Permian Basin and Gulf Coast. The company emphasizes financial strength and execution excellence.
EnLink Midstream reported strong financial results for Q4 2021, with net income of $88.6 million and adjusted EBITDA of $286.4 million, reflecting robust producer activity. The company achieved free cash flow after distributions of $67.4 million despite a 20% increase in distribution. EnLink anticipates continued growth in 2022, projecting adjusted EBITDA between $1.11 billion and $1.19 billion, and announced a partnership with Talos Energy for carbon capture solutions in Louisiana. The company reduced total debt by $235 million in 2021, marking financial stability.
Talos Energy and EnLink Midstream have signed a memorandum of understanding to jointly develop a CO2 capture, transportation, and sequestration solution in Louisiana. This initiative will target the Mississippi River corridor, a major CO2 emissions area, leveraging EnLink's existing pipeline infrastructure and Talos's River Bend CCS site. The project aims to provide efficient, cost-effective CO2 management for industries in the region, significantly contributing to decarbonization efforts while utilizing Talos's geological expertise and EnLink's midstream capabilities.
On February 15, 2022, EnLink Midstream (NYSE: ENLC) and Talos Energy (NYSE: TALO) announced a memorandum of understanding to develop a comprehensive carbon capture, transportation, and sequestration (CCS) solution in Louisiana. This initiative targets industrial emitters along the Mississippi River corridor, leveraging EnLink's 4,000-mile pipeline network and Talos's River Bend CCS site with over 500 million metric tonnes of sequestration capacity. The collaboration aims to reduce emissions and accelerate decarbonization in a key industrial region.