Enlink Midstream Llc - ENLC STOCK NEWS

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.