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) operates essential midstream infrastructure across North America's key energy basins, providing critical services in hydrocarbon transportation and processing. This news hub serves as the definitive source for tracking ENLC's latest corporate developments and market positioning.
Investors and industry observers will find comprehensive coverage of material events including earnings announcements, strategic partnerships, infrastructure expansions, and sustainability initiatives. Our curated news selection prioritizes operational updates that impact the company's role in energy logistics and carbon management solutions.
The repository features verified press releases alongside third-party analysis, offering multiple perspectives on ENLC's market activities. Content categories include regulatory filings, leadership updates, contract announcements, and industry trend commentary relevant to midstream operations.
Bookmark this page for streamlined access to ENLC's evolving story in energy infrastructure. Combine periodic checks with SEC filings for complete due diligence.
EnLink Midstream has announced the pricing of its upsized offering of $700 million in 6.500% senior notes maturing in September 2030, closing on August 31, 2022. This offering increased from a previous $500 million target. Proceeds will be used to repurchase existing senior notes due 2024, 2025, and 2026, totaling $500 million. The offering is intended for qualified institutional buyers only and will not be registered under the Securities Act. EnLink aims to strengthen its financial position through this transaction.
EnLink Midstream (NYSE: ENLC) announced cash tender offers through its subsidiary, EnLink Midstream Partners, LP (ENLK), to purchase up to $500 million of its senior notes due 2024, 2025, and 2026, totaling $2.3 billion in outstanding notes. The offers aim to reduce outstanding debt and are funded through a new $500 million senior note issuance due 2030. The tender offers expire on September 13, 2022, with early tender submissions due by August 29, 2022. Conditions for the offers include successful completion of the new note issuance.
EnLink Midstream has announced a proposed offering of $500 million in senior notes due 2030 to fund the repurchase of existing senior notes totaling $500 million. The initiative aims to consolidate debts with 4.40%, 4.15%, and 4.85% interest rates, which are due in 2024, 2025, and 2026, respectively. The offering is contingent upon market conditions and is available only to qualified institutional buyers under Rule 144A of the Securities Act. The company is committed to maintaining a strong financial foundation as it navigates market uncertainties.
EnLink Midstream reported a second-quarter 2022 net income of $123.9 million and adjusted EBITDA of $299.7 million, marking a 16% increase year-over-year. The company raised its full-year guidance for net income to $390-$430 million and adjusted EBITDA to $1.25-$1.29 billion. EnLink generated $67.5 million in free cash flow after distributions and repurchased $52 million in common units. The acquisition of North Texas assets for $275 million is expected to yield operational synergies. With anticipated growth in 2023, EnLink plans to invest $300-$330 million in growth capital projects.
EnLink Midstream (NYSE: ENLC) declared a quarterly cash distribution of $0.1125 per common unit for Q2 2022, consistent with Q1 2022. This distribution will be paid on August 12, 2022, to unitholders of record by July 29, 2022. Furthermore, the company will host a conference call on August 4, 2022, at 8 a.m. CT, to discuss its Q2 earnings. Additional details can be accessed on EnLink's website following their quarterly report on August 3, 2022.
EnLink Midstream announced the upcoming retirement of Chairman and CEO Barry Davis on June 20, 2022, after over 25 years in leadership. Jesse Arenivas, previously with Kinder Morgan, will succeed him as CEO. Leldon E. Echols will take over as Chairman of the Board. Under Davis, EnLink grew significantly, projecting $1.2 billion in adjusted EBITDA for 2022, up from $15 million at its IPO in 2002. The management transition aims to ensure continuity and enhance EnLink's focus on energy transition opportunities.
Honeywell (HON) and EnLink Midstream (ENLC) are collaborating to develop carbon capture solutions targeting industrial CO2 emissions along the Louisiana Gulf Coast. The partnership will leverage Honeywell's advanced carbon capture technology and EnLink's pipeline infrastructure for efficient CO2 transportation and sequestration. A feasibility study will assess retrofitting Honeywell's Louisiana facilities to integrate this solution. The initiative aligns with Honeywell's commitment to carbon neutrality by 2035, aiming to significantly reduce environmental impacts in a key industrial region.
BKV and EnLink Midstream have announced a partnership to develop a carbon capture and sequestration (CCS) project in the Barnett Shale region of North Texas. The project aims to begin operations by the end of 2023, with plans to become one of the first permanent commercial sequestration projects in the U.S. BKV's CEO stated that this initiative will help achieve net-zero green natural gas production. EnLink's chairman emphasized the project's goal of significantly reducing carbon emissions, aligning with their 2030 emissions intensity reduction target.
EnLink Midstream has announced its agreement to acquire North Texas gathering and processing assets from Crestwood Equity Partners for $275 million, pending regulatory approval. This acquisition aligns with EnLink's strategy to enhance operational synergies and redeploy assets to other areas, promising attractive transaction economics with an expected 4.0x EBITDA multiple and high-teens unlevered returns. The assets will boost EnLink's position in the Barnett Shale, reduce capital expenditures, and improve emission intensity through electric compression.
Crestwood Equity Partners LP (NYSE: CEQP) announced strategic transactions to acquire Sendero Midstream Partners for $600 million and First Reserve's 50% interest in Crestwood Permian for $320 million. This increases Crestwood's natural gas processing capacity in the Delaware Basin and is expected to generate $190-$200 million in adjusted EBITDA for 2023, contributing about 20% to overall cash flow. The divestiture of Barnett Shale assets for $275 million supports asset optimization. The transactions maintain a strong balance sheet while enhancing operational synergies and cash flow.
