Natural gas liquids (NGLs) are the mix of light hydrocarbon liquids—such as ethane, propane, butane and natural gasoline—extracted from natural gas or produced at oil refineries. Think of them as the different ingredients separated out from raw gas that are used for heating, cooking, plastics and fuel blending; their prices and availability affect energy company revenues, refining margins and the broader petrochemical supply chain, so investors watch NGL volumes and prices as indicators of profitability and demand.
fractionationtechnical
Fractionation is the process of separating a complex biological or chemical material into its individual parts so each can be used, tested or sold separately; in healthcare this most often means splitting blood plasma into proteins like antibodies or albumin. For investors it matters because fractionation determines how much usable product a facility can make, the cost and regulatory hurdles of manufacturing, and the potential revenue and supply risks — like turning a raw ingredient into multiple sellable products, similar to refining crude oil into gasoline and other fuels.
intrastatetechnical
Intrastate describes business activity, sales, or legal transactions that occur entirely within the borders of a single state rather than crossing into other states or countries. For investors, that matters because state-only transactions are often governed by state rules instead of broader federal rules, which can affect how easily a security can be offered, who can buy it, and how quickly a company can raise or access capital—similar to selling goods only in your hometown versus nationwide.
interstatetechnical
Interstate means activity that crosses or involves more than one state within a country, such as sales, transportation, or legal matters. For investors it matters because interstate operations can change which laws, taxes, permits or fees apply, affect how easily a company reaches customers across regions, and influence costs and legal risk—similar to how a delivery route that crosses state lines may face different road rules and tolls.
DALLAS--(BUSINESS WIRE)--
Energy Transfer LP (NYSE: ET) today announced that it plans to release earnings for the fourth quarter and full year 2025 on Tuesday, February 17, 2026, before the market opens.
The company will also conduct a conference call on Tuesday, February 17, 2026 at 8:00 am Central Time/9:00 am Eastern Time to discuss quarterly results and provide a company update. The conference call will be broadcast live via an internet webcast, which can be accessed on Energy Transfer’s website at energytransfer.com. The call will also be available for replay on Energy Transfer’s website for a limited time.
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with approximately 140,000 miles of pipeline and associated energy infrastructure. Energy Transfer’s strategic network spans 44 states with assets in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (“NGL”) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns the general partner interests, the incentive distribution rights and 28.5 million common units (representing approximately 15% of the aggregate outstanding common and Class D units) of Sunoco LP (NYSE: SUN), and the general partner interests and 46.5 million common units (representing approximately 38% of the outstanding common units) of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer LP website at www.energytransfer.com.
The information contained in this press release is available on our website at energytransfer.com.
