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 reported strong first quarter 2022 results, with net income of $66 million and adjusted EBITDA of $304.3 million, up 22% YoY. The company generated $307.7 million in net cash from operations and $104.9 million in free cash flow after distributions. EnLink raised its full-year guidance, now expecting net income of $315-$375 million and adjusted EBITDA of $1.19-$1.25 billion. The company plans $325-$365 million in capital expenditures, emphasizing growth in its carbon capture and transportation business through a new agreement with Oxy Low Carbon Ventures.
EnLink Midstream and Oxy Low Carbon Ventures have signed a letter of intent for a Transportation Services Agreement to transport CO2 along the Mississippi River in Louisiana. EnLink will leverage existing and new pipeline infrastructure to facilitate this service, linking industrial emitters to OLCV's sequestration facility in Livingston Parish. The corridor is noted for its high industrial CO2 emissions. This collaboration aims to advance carbon management solutions and align with net-zero goals.
EnLink Midstream announced a cash distribution of $0.1125 per common unit for Q1 2022, consistent with the previous quarter. The distribution is payable on May 13, 2022, to unitholders of record on April 29, 2022. Additionally, the company will hold a conference call on May 4, 2022, at 8 a.m. CT to discuss its Q1 earnings. The quarterly report will be available on the company's website after market close on May 3, 2022.
EnLink Midstream has expanded its Carbon Solutions Group by appointing Robert "Bob" Purgason as Managing Director. Purgason, a seasoned energy expert with over 40 years of industry experience, is expected to leverage his extensive connections and business development skills to enhance EnLink's carbon capture, transportation, and sequestration (CCS) initiatives. Chairman and CEO Barry Davis emphasized the importance of strategic leadership in scaling the CCS business, which is seen as a significant opportunity in the energy transition.
EnLink Midstream (NYSE: ENLC) has filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2021, with the SEC. The complete report is available on their website under the 'Investors' section. Unitholders can request a free hard copy of the audited financial statements. EnLink operates a differentiated midstream platform focused on creating long-term value through natural gas and crude oil services in key production areas like the Permian Basin and Gulf Coast. The company emphasizes financial strength and execution excellence.
EnLink Midstream reported strong financial results for Q4 2021, with net income of $88.6 million and adjusted EBITDA of $286.4 million, reflecting robust producer activity. The company achieved free cash flow after distributions of $67.4 million despite a 20% increase in distribution. EnLink anticipates continued growth in 2022, projecting adjusted EBITDA between $1.11 billion and $1.19 billion, and announced a partnership with Talos Energy for carbon capture solutions in Louisiana. The company reduced total debt by $235 million in 2021, marking financial stability.
Talos Energy and EnLink Midstream have signed a memorandum of understanding to jointly develop a CO2 capture, transportation, and sequestration solution in Louisiana. This initiative will target the Mississippi River corridor, a major CO2 emissions area, leveraging EnLink's existing pipeline infrastructure and Talos's River Bend CCS site. The project aims to provide efficient, cost-effective CO2 management for industries in the region, significantly contributing to decarbonization efforts while utilizing Talos's geological expertise and EnLink's midstream capabilities.
On February 15, 2022, EnLink Midstream (NYSE: ENLC) and Talos Energy (NYSE: TALO) announced a memorandum of understanding to develop a comprehensive carbon capture, transportation, and sequestration (CCS) solution in Louisiana. This initiative targets industrial emitters along the Mississippi River corridor, leveraging EnLink's 4,000-mile pipeline network and Talos's River Bend CCS site with over 500 million metric tonnes of sequestration capacity. The collaboration aims to reduce emissions and accelerate decarbonization in a key industrial region.
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.
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