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.
EnLink Midstream announced a quarterly distribution of $0.1125 per common unit for Q4 2021, reflecting a 20% increase from the previous quarter. The distribution is scheduled for payment on February 11, 2022, to unitholders of record by January 31, 2022. Additionally, a webcast and conference call will be held on February 16, 2022, at 8 a.m. CT to discuss Q4 and full-year 2021 earnings and 2022 financial guidance. The company emphasizes its commitment to sustainable value creation across its midstream platform.
EnLink Midstream has appointed Tiffany (TJ) Thom Cepak to its Board of Directors. With extensive experience in the oil and gas industry, including roles in engineering, operations, and finance, Cepak will contribute valuable insights into the energy transition, particularly in carbon capture and growth opportunities. Her appointment expands the Board to nine directors, with two women. Cepak's background includes serving as CFO for multiple energy companies and holding engineering positions at Exxon Mobil. This strategic move aims to enhance EnLink's governance as it strives for sustainable value creation.
EnLink Midstream announced an increase in its quarterly distribution to $0.1125 per common unit, representing a 20% rise compared to Q3 2021. This change, effective from the fourth quarter, follows robust free cash flow generation and a strengthened balance sheet. Additionally, EnLink plans to refresh its common unit repurchase program, maintaining a buyback authority of $100 million, with approximately 6.5 million units repurchased at an average cost of $6.38 per unit. The company redeemed 3,300,330 Series B preferred units for $50 million.
EnLink Midstream reported third-quarter 2021 results, with a net income of $32.3 million and net cash from operating activities of $197 million. Adjusted EBITDA reached $256.4 million, surpassing internal expectations despite a $4 million impact from Hurricane Ida. The company anticipates 2021 net income to be between $125 and $165 million and adjusted EBITDA towards the higher end of $1.02 to $1.06 billion. Notable projects include the completion of Project War Horse and the initiation of Project Phantom, enhancing processing capacity.
EnLink Midstream declared a quarterly cash distribution of $0.09375 per common unit for Q3 2021, unchanged from Q2 2021. This distribution will be paid on November 12, 2021, to unitholders of record on November 1, 2021. Additionally, a conference call is scheduled for November 3, 2021, at 8 a.m. CT to discuss Q3 earnings, with an archived replay available on their website.
EnLink operates a reliable midstream platform across key U.S. oil and gas regions, focusing on creating long-term value.
EnLink Midstream (NYSE: ENLC) has donated 50,000 gallons of propane to assist residents of Southeast Louisiana affected by Hurricane Ida. In collaboration with O'Nealgas and the Louisiana Association of Business and Industry Foundation, the propane is being delivered to first responders and local residents to help power generators and support recovery efforts. EnLink's Chairman and CEO, Barry E. Davis, emphasized the company's commitment to aiding the community, highlighting its long-standing presence in Louisiana. The donation was received positively by local leaders, marking a significant contribution to recovery efforts.
EnLink Midstream (NYSE: ENLC) announced its participation in several upcoming virtual investor conferences. Key executives, including CEO Barry E. Davis and CFO Pablo G. Mercado, will present at the Citi One-on-One Midstream / Energy Infrastructure Conference on August 18-19, 2021. Scott Goldberg from the EnLink Carbon Solutions Group is scheduled to present at the Jefferies ESG Summit on September 1. Following that, Davis and Mercado will be involved in sessions at the Barclays CEO Energy-Power Conference on September 9. EnLink's quarterly report for Q2 2021 is available on its investors' page.
EnLink Midstream reported a second-quarter net income of $9.4 million and adjusted EBITDA of $257.5 million, representing a 6.5% increase from the same period in 2020. The company experienced increased producer activity, particularly in the Permian and Oklahoma segments, attributed to higher commodity prices. Free cash flow after distributions was $71.5 million, contributing to a total of $359.4 million over the trailing twelve months. EnLink plans to maintain a balanced approach in utilizing free cash flow while striving to reduce leverage to below 4x.
EnLink Midstream declared a cash distribution of $0.09375 per common unit for Q2 2021, maintaining the same rate as Q1. This distribution will be paid on August 13, 2021, to unitholders on record by July 30, 2021. EnLink will hold a conference call on August 4, 2021, at 8 a.m. Central time to discuss Q2 earnings. The quarterly report will be available after market close on August 3, 2021. EnLink operates a robust midstream platform focused on sustainable value creation and competitive returns.
EnLink Midstream has increased its financial guidance for 2021 due to strong commodity prices and rising producer activity. The company projects net income to rise by $60 million, reaching $135 million at the midpoint, and adjusted EBITDA is set to increase 7% to $1.04 billion. EnLink also forecasts $350 million in free cash flow after distributions. Additionally, EnLink announced the formation of the Carbon Solutions Group to explore carbon capture projects, leveraging its extensive Louisiana pipeline network to support decarbonization efforts.