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 (NYSE: ENLC) reported net income of $67.0 million and adjusted EBITDA of $306.0 million for Q2 2024. The company generated $53.3 million in free cash flow after distributions. Key highlights include:
1. Reached final investment decision on an 8 Bcf expansion of Jefferson Island Storage & Hub.
2. Repurchased $50 million of common units in Q2, totaling $100 million in H1 2024.
3. Increased 2024 common unit repurchase authorization by $50 million to $250 million.
4. Purchased $200 million of Series B preferred units, reducing outstanding amount by nearly 50% since early 2024.
Segment performance varied, with Permian Basin showing growth, Louisiana experiencing seasonal effects, Oklahoma mixed results, and North Texas declining due to a contract reset.
EnLink Midstream (NYSE: ENLC) has announced its quarterly distribution for Q2 2024 and scheduled its earnings call. The company declared a cash distribution of $0.1325 per common unit, unchanged from Q1 2024. This distribution will be paid on August 14, 2024, to unitholders of record on August 2, 2024.
EnLink will host a webcast and conference call on Wednesday, August 7, at 8 a.m. Central time to discuss Q2 2024 earnings. The company's investor presentation and earnings press release will be available on its website after market close on Tuesday, August 6. An archived replay of the webcast will be accessible on EnLink's website for at least 90 days following the event.
EnLink Midstream, (NYSE: ENLC) reported strong financial results for the first quarter of 2024, with net income of $50.0 million and adjusted EBITDA of $337.7 million, up 4.3% from Q1 2023. The company generated $293.3 million in net cash from operating activities and $74.0 million in free cash flow after distributions. EnLink completed the first project in Phase 2 of Louisiana gas expansion, aiming to meet customer needs in eastern Louisiana by the fourth quarter of 2025. The company repurchased $50.0 million of common units in Q1 2024, on pace to fulfill the $200 million repurchase authorization for 2024.
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