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.
EnLink Midstream, LLC (NYSE: ENLC) is a prominent, integrated midstream company providing tailored customer solutions across North America's prolific oil and gas regions. Formed in 2014 through a strategic combination of Devon Energy's midstream assets and Crosstex Energy, EnLink has become a leading entity with enhanced size and scale in key operating regions.
Headquartered in Dallas, EnLink's expansive infrastructure network includes gathering, processing, fractionation, transportation, and logistics assets located in the Gulf Coast, Permian Basin, STACK, Cana, Arkoma-Woodford, North Texas, Haynesville, Utica, Marcellus, and Eagle Ford. The company is committed to delivering growth and unlocking value for customers, employees, and investors through its diversified assets and strategic relationships.
EnLink's operations are segmented into key areas such as the Permian Basin, North Texas, Oklahoma, Louisiana, and Corporate. The Louisiana segment generates the maximum revenue, featuring natural gas pipelines, processing plants, storage facilities, fractionation facilities, and NGL assets.
In recent developments, EnLink has made significant strides in carbon capture and sequestration (CCS) projects, highlighting their commitment to reducing greenhouse gas emissions. For instance, their partnership in the Barnett Zero project marks one of the first commercial CCS operations in the U.S., aiming to sequester up to 210,000 metric tons of CO2 annually.
EnLink continues to demonstrate financial resilience and strategic growth. Their quarterly distribution for the first quarter of 2024 remains solid at $0.1325 per common unit. The company also completed a $250 million common unit repurchase program in 2023 and has authorized a new $200 million repurchase plan for 2024.
For more updates and detailed financial information, visit the EnLink Midstream Investor page.
EnLink Midstream, LLC (NYSE: ENLC) announced a $250 million accounts receivable financing facility with PNC Bank. This facility will enhance financial flexibility by repaying outstanding borrowings on the company's revolving credit facility. EnLink aims to utilize this financing to support its capital structure and de-lever its balance sheet, aiming to repay a $850 million term loan by the end of 2021. Current net debt has decreased by about $145 million, and borrowings under EnLink's revolving credit facility are approximately $75 million.
EnLink Midstream announced a third-quarter 2020 cash distribution of $0.09375 per common unit, consistent with the previous quarter. This distribution will be paid on November 13, 2020 to unitholders recorded by October 30, 2020. EnLink emphasizes its focus on long-term, sustainable value creation through its midstream platform, providing essential services across premier production areas. This announcement reflects the company's commitment to maintaining consistent returns for its investors amid market fluctuations.
EnLink Midstream will host a webcast and conference call on November 5 at 8 a.m. CT to discuss its third quarter 2020 financial and operational results. The earnings call can be accessed by dialing 1-855-656-0924 in the U.S. or 1-412-542-4172 for international participants. An archived replay will be available on EnLink's Investors page post-event. The third quarter report and press release will be released after market close on November 4. Further details will be communicated prior to the event.
EnLink Midstream (NYSE: ENLC) announced participation in the Barclays 2020 CEO Energy-Power Conference on September 8-9, 2020. CEO Barry Davis and CFO Pablo Mercado will engage with investors, with Davis scheduled for a Q&A session. This event emphasizes the company's commitment to investor engagement and communication. The latest quarterly report for Q2 2020 is available for download on their website. EnLink operates an integrated midstream platform within prime production basins, focusing on natural gas and crude oil services.
On August 28, 2020, EnLink Midstream (NYSE: ENLC) announced that the impacts of Hurricane Laura on its assets, finances, and operations are minimal. Notably, all employees are safe and accounted for. The company praised its team's rapid response to the storm, ensuring continuity in providing energy infrastructure services. EnLink operates extensive assets in Louisiana and along the Gulf Coast, including a major gas transmission pipeline system. The company remains committed to long-term value creation through its integrated asset platforms.
EnLink Midstream reported a net income of $29.8 million and adjusted EBITDA of $255.1 million for Q2 2020. The company is on track to meet its $950 million to $1.025 billion full-year guidance. A significant achievement includes a 35% profit increase in the Permian segment, attributed to cost reductions and volume growth. EnLink also reduced operating costs by $120 million compared to 2019 and generated $72 million in excess free cash flow. The company plans to continue its disciplined investment approach amid market uncertainties.
EnLink Midstream (NYSE: ENLC) will participate in the virtual Citi 2020 One-on-One Midstream / Energy Infrastructure Conference from August 12 to 13, 2020. During the event, EnLink will release its second quarter 2020 presentation, available for download on their Investors' page. The company is dedicated to creating long-term value through its midstream services, specializing in natural gas, crude oil, and NGL capabilities across key production areas like the Permian Basin and Gulf Coast. To learn more, visit www.EnLink.com.
EnLink Midstream has declared a cash distribution of $0.09375 per common unit for the second quarter of 2020, unchanged from the first quarter. The payment is scheduled for August 13, 2020, to unitholders on record by July 31, 2020. EnLink operates a robust midstream platform, facilitating natural gas, crude oil, and NGL services across significant production areas, including the Permian Basin and Gulf Coast. The company's commitment to sustainable value creation aims to deliver competitive returns for stakeholders.
EnLink Midstream (NYSE: ENLC) will conduct a conference call on August 5, 2020, at 8 a.m. CT to discuss its second-quarter financial and operational results. Investors can join the call by dialing 1-855-656-0924 or 1-412-542-4172 for international callers. The earnings report will be available after market close on August 4, with further details provided via press release. EnLink operates a diversified midstream platform focusing on natural gas and other energy services, supporting sustainable value creation.
EnLink Midstream (NYSE: ENLC) has appointed Pablo G. Mercado as the new Executive Vice President and Chief Financial Officer, effective immediately. Mercado brings over 20 years of experience in finance and corporate development, having previously served as CFO for Forum Energy Technologies. EnLink's Chairman and CEO, Barry Davis, expressed optimism about Mercado's strategic leadership during challenging industry conditions. The company remains on track for solid full-year results amidst cost controls and operational excellence.
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