ENLC - Earnings call transcript Q2 2022

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Operator

Good day, and welcome to the EnLink Midstream Second Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Brian Brungardt, Director of Investor Relations. ahead. go Please

Brian Brungardt

our replay www.enlink.com. Vice our include good be predictions undertake revise. Financial from of and factors materials no start closed with set today differ certain like that Definitions these website on remarks including be Ben this A Jesse Welcome This leave press EnLink's release Vice release, of reconciliation measures, are after to Lamb, under speak to now Jesse and in and of the call call available made We update presentation and also Operating statements to SEC as and other Thank Mercado, a Actual to to and also and well statements We measures results Pablo earnings morning the and prepared issued projections filings, obligation that, and filings. available call. would made may yesterday, release are call quarter by call you including forward-looking presentation. Arenivas. Executive Executive disclosures of Ben differ only Officer; of pertaining for XXXX of those the We'll Chief heading and will and call of Today's markets cause factors. Pablo call, and I and today's open the of Participating second questions-and-answers. the our Federal encourage brief the and in measures. turn our on those our our The Chief release date Arenivas, our discussion of Jesse, then to in Officer, website. materially over Chief press you, With or actual press Securities President our found and remainder the within Executive expectations everyone. of review forward-looking President risk presentation we Officer. at the on the meaning discussion will cautionary today's are includes a Laws. as call non-GAAP SEC could financial to earnings discussion statements, results the the can as the our of appendix comparable GAAP in

Jesse Arenivas

Thank to Thank for quarter you, us second XXXX the to to our results, well highest our increased and Brian, plans second which as good investors. include morning EBITDA adjusted you everyone. guidance joining quarter company's and increase returns discuss history, as future in today

of some market, months several how to weather of First volatility NGL been that to on I'd well-positioned there meet in like we current of help needs not business And the gas state but remain lives. provide has perspective domestic to the our production the and thrive. The friends continue call to a to Europe. use however, the our EnLink feedstock critical the also is in a the only natural renewed on last our for products everyday

with compared the and of XX% months States its LNG year. five United focus the the demand recent exported The United last the geopolitical has cargoes, became accelerated recent of the to XX% LNG year. during EU last the And XXXX, first Europe, of an Kingdom with average LNG trend European current U.S. Our largest the the simply events. to on States United for is supplier

security are up the about generation sources trend call reliable of secure to living energy this Europeans economic they activities are gas to that The we heat for as we given acceptance economy. unfortunate the of homes. environmentally gas their sustainable block's to and use Notwithstanding electric global added see Parliament recently for risks, natural the recessionary look the exclusive wake greater power Additionally, accelerating seeing EU through. natural

important it's country demand for the realize as change in over term and That our while supply that supportive recession, curve. and improve the the the bigger continue natural long near to through more a both trends. and economic reflected be simply, geopolitical Now may forward structural will gas indeed not to slowdown the going term

to grow EnLink's in future, with platform active As transition, XX% we natural NGLs, is the and look be to business. to for approximately gas well-positioned accounting energy the our an participant of

to capitalizing our we and our generates in first cash Gulf and robust geographically which We have growing Louisiana. Coast. diverse us flow, specifically, links business our along a the in demand Each continue three segments mover gas natural transportation More to to reinvest see the footprint. of allows on gathering markets while robust Southeastern regions COX processing activity free in exposure advantage NGL business, build and them to Permian four

We are efficient second a to our our relocation grow in Phantom with plant project customers manner. making solid alongside progress capital

capacity recently also shipper Matterhorn day as X.X from the Permian. in investor providing to Express to We as an announced participate takeaway BCF a both plans the a and up of Pipeline,

renaissance stages a Texas. Oklahoma in in the are of North We early and

an service While producer we in pickup, in remains meaningful plans and sector Oklahoma the oilfield outlook growth North to improving and expect next Texas are we tight, seeing year.

incremental asset footprints these We in of with basins. are our well-positioned each existing to supply meet

recent Oklahoma. matched Our by four is has the of operational our of in to strength This our financial supply redeployment position. an and by meet strong acquisition Permian outlook economics North times part EBITDA attractive the XXXX generated growing Texas in of assets in

We the of business, mover country, of capacity, in our the geologic at the given coupled increasing industrial a our guidance, emission of sequestration can third well-positioned continue And while substantial robust parts to in to CCS there's scalable meet advantage. free to executing are based the in to the country remain our cash XXXX time, midpoint miles flow. flow a mark generate innings Coast of extensive in XXX an investing we unitholders. of very we ground. million to pipe building the prudently capital to generating distributions. first emissions network of updated year believe expect on goals in with free we of Unlike ample after consecutive the area we're high while out At same the least committed play already our the along early region, cash return Gulf with emissions. We The of carbon concentration midstream a located Southeastern prime Louisiana other important the reduce this the is We COX within that as is role sources. formations conduit of business

and active have we future. to discussions emitters sequestration additional We forward continue in look and the providers, updates both providing to with very near

announced while Bridgeport near strengthen. remain outlook largest a combined gas sequester capture attractive we our committed of progress Bridgeport When metric This for result end, facility. North Lastly, attractive term to we to during our project capture in other a at projects earning returns. and project from reduction quarter, that is own XXX,XXX processed Texas emissions, with returns earning emissions per towards BKV, EnLink profile. our in that COX our the To tangible carbon combined work at our summary, customer on while emissions improving goals, our estimate continues that we to marks tons methane reduction the In with year.

position turn continue the us segments. sustainable coupled through across provide discipline financial capital to with We robust fundamentals financial operations. while growth allowed in over The I'll all generation robust strategic value to operational in while business underlying our our flow cash drive a and excellence returning maintaining our With and invest our are a to overview of to business, to strengthening committed that, Ben activity investors. strong flexibility. our an driving it We remain to seeing

Ben Lamb

everyone. Jesse, and good morning, Thanks,

of saying excited by and to off I'm team proud the how start of to me Let each am our I performance grow them. needs support our execution the the of across our alongside of segments. about customers

quarter continued momentum segment starting unrealized from profit during and of through last of of million where operating expenses Permian, of gains. $XXX.X approximately million tied included the XXXX. $X.X we the derivative Segment walk second the in the of Phantom generating quarter Now, the in to let's profit quarter plant, $XX.X relocation million our assets by the

the unrealized over the XX% quarter. profit OpEx grew sequentially, relocation year activity, from an plant XX% prior and Excluding quarter segment of derivative XXXX impressive and in second

expect growth XXXX. The to second third first to approximately XX% higher the the higher higher of moderate sequentially, of for toward processing quarter and in the expect growth well the second approximately And robust commissioning XX% be will higher the the of compared Producer volumes the in quarter basin. XX% quarter activity natural in to were second gathering to we XX% both that handle approximately quarter, quarter we also Phantom volume cash the flow. while fourth we positioned sides for eighth positive Average second work XXXX. and robust as quarter on we the marked quarter compared remains quarter compared of natural XXXX. were to consecutive second approximately segment of gas XXXX XXXX quarter gas of volumes Average

at Turning including million, for gains Louisiana. quarter the $XX unrealized profit in second million. derivative now of to Segment $XX.X XXXX of came

Excluding and the from driving approximately prior XXXX the The benefit Louisiana the in to of quarter segment, industrial in period. decreased solid mainly continues was months. seasonality quarter strong to million. growth profits year million derivative impact relatively segment flat by second seasonal unrealized $XX.X activity activity by XXXX compared of NGL driven normal in sequentially, and demand, from solid winter second to with flow we performance cash results segment of drove the continue higher $XX.X expect normal the

growing leverage our industrial to support with existing the generate seeing returns. potential growth also to We strong demand are LNG and growth to infrastructure opportunities

expenses Moving the quarter the million of approximately profit operating Segment plant, up delivered for $XX.X the to Phantom relocation derivative tied $X.X and profit gains. the of million of second quarter approximately unrealized Oklahoma, to $X.X included XXXX. segment of of in million we

the approximately the cash activity, quarter. to sequentially, compared plant of that quarter volumes flow continues year derivative X% were gas stable solid relocation about XXXX. segment Oklahoma XXXX unrealized and flat grew to gathering OpEx the natural X% for and deliver quarter the second quarter us. second second from decrease approximately higher in sequentially, for of X% Average and profit prior Excluding

second the flow. in $XX.X XXXX, generated million cash of During quarter segment we

expect inflection have volume now XXXX. now growth Our Since point. Oklahoma volume in business see XXXX, we meaningful at seen and stabilize, is an we to

the XXXX. Segment with be volume us year the happening of the a unrealized was that today, driven schedule will this into profit ground derivative by of have give in Texas. level million. that's year's quarter of the well North profile including half second $XX.X gains $X.X momentum million, as busy on up high Wrapping for Next great will connect activity we

in refreshing has also new prior to drilling to segment increased sequentially increased see plans and Excluding unrealized and the derivative gas Natural the XXXX, X% compared second X% year increased quarter. It of the back prior modest volumes Texas. profit been to bring quarter increased gathering X% from quarter. X% sequentially producers activity, year North

came wells end new with a Our largest initiated that successful from this quarter. also second their is commenced year, drilling last the and first shortly BKV producers, BKV year. after maintaining the and earlier outlook online the customer smaller Together program program the brighter is we volumes very executing from Texas activity Texas processing years. today refrac progress than on Crestwood. assets North closed achieve to gathering are integration to been it Xst, North for significant of our and acquisition The plans July continues operational we synergies. in has in and On our many of

As piddle those through will account the Creek we plant. facility part route our Silver [ph] and of plans, volumes

our to an give stakeholders. excellence operational for and value I want update driving Finally, on

operations. As one operation reducing our we Silver on compromising from costs the without Creek quarter, our successfully facility quality plant, our remote the Bridgeport implemented of example, the during of

to G&A to our another example, do giving we some our time important more back valuable routine work. to As automation process functions, employees robotic tasks implemented [ph] perform in

With efficiency financial have I'll it continuing over to drive to our a that, to similar operate We across discuss Pablo pass on to excellence. our continuous while with to work projects business process update.

Pablo Mercado

Ben. I'll the And good start highlights. you, everyone. morning, second quarter with Thank

from and during one robust the second EnLink million out representing traditionally increase continued reflects growth in the mentioned, our solid quarters. weak in of and and Oklahoma and quarter of of plant expenditures, growth achieved trend for result of cash million of Texas our history free expenses of flow Jesse XXXX. results As quarter were continued seasonally EnLink four second positive quarters, cash million. positive quarter EnLink XXXX, This Capital an second driven EBITDA, distributions contributions. in by all the segments the of EnLink, operational $XX delivered of relocation adjusted best achieved XX% Louisiana, company from momentum $XXX strong our Permian, north delivered significant net to $XX results. is what the segments. also assets prior after Continuing

million contributed established also our Matterhorn We $XX approximately joint to recently venture.

the with a X.X ourselves times strong position, balance end ample On the in liquidity. at leverage side, sheet of the a ratio we and of very find quarter,

to we amended we quarter, AR Subsequent the maturity extending increased our During to facility, extended to quarter and facility size its maturity million to of credit also $XXX the our XXXX. end, XXXX. the revolving

North million $XX increased the the of the for second units, of and to quarter. approximately result $XX GIP, of second year our our which these allocation the including execution capital returns repurchase July, impact pro which including approximately the a with to increase active actions, Texas during repurchased retain end activity unit buyback rata common takes in As of to ample settled quarter the program. the with first plans after $XX $X.X we quarter, be continue billion. in we the of acquisition, closed of liquidity units our common we investors, In our Consistent half million The to million. from

to robust and turn commodity me of North increased guidance. Texas the a results, let we quarter XXXX closing guidance. XXXX account increased price Taking supportive our second full into year acquisition the our the environment, Next,

is now of higher billion We billion range EBITDA rate XXXX XX% into to our the year. of range growth a $X.XX and that adjusted than XX% over of coming are $X.XX a EBITDA. guidance initial range midpoint the forecasting of implies The adjusted

in don't in months due mind seasonally quarterly while to sales storage Now our business. our keep we from NGL provide the months please guidance, strongest that purity are winter

investments. capital to Turning

in producer Ben segments. As are we Oklahoma strong mentioned, Permian activity, and and seeing increasing particularly our

and million. returns use accommodate plant in increase we quick as for excellent As this and are in $XXX this $XXX a leverage to high CapEx our to projects paybacks. expected significant million have an order volumes capital plants increase result, growth These expect modestly infrastructure XXXX, we relocation growth, and fiscal in to year they and of existing

takeaway during near Express we natural Basin area the in provide Additionally, Permian the to announced Katy capacity Project, quarter Houston. which gas from the our will Matterhorn the needed participation

making, $XX equity We and and performance XXXX. million, improved with expect a to the the year, make of total approximately segments across this our $XXX in attractive outlook fee-based balance total incremental by to contributions project of this million and Driven generating the to we of our see at million the represents after least we free consecutive free million, flow cash range $XXX the distributions are which after $XXX of cash of investments $XXX in now midpoint at flow million distributions. third year

of it disciplined In summary, our can turn holders. that to this business our XX% return that, recent outlook price, results, We continue and and I'll repurchases to year of remain midpoint, and in to increasing improve back with spend EnLink of represents pullback stock the total our million in continue achieved XXXX capital operations record Jesse. in the unit from are continue At to $XXX fundamentals initial our the $XXX our grow business contrast activity for the expect XXXX million As plants. second our and a in approach both we the common increase improve. to buyback unit in a common in XXXX. increase this our investment to quarter to With

Jesse Arenivas

part to team. value talented and I'm excellent here. driving great be ambassadors. of call questions. open Pablo. may now With sustainable results a time delivering you, you this EnLink excited It's that, for to the is focused is be for Thank on

Operator

We first will Moreen ahead. question And the and will Mizuho. now Gabriel with our from session. come begin [Operator answer go Please question Instructions]

Gabriel Moreen

position. new Congrats morning, the guys. welcome, on good And Jesse. Hey,

Jesse Arenivas

Gabriel. Thanks,

Gabriel Moreen

business? as just if in of the thinking get talk I'm wanted your question developments that kind kind approach to up business? just pick days, capital Washington, think kind influence and Jesse, some can or initial COX prior related know a with how may potentially discussions and off I the of that EnLink, could can to position, to about your that you're of talk early also, about or specifically on starting which the credits impact I if impressions but ask background seeing of allocation of how it's to you enhanced, kind percolate, Bob, that extent if there, you you maybe picture. on your maybe And the just your broader how

Jesse Arenivas

and Yes. of in the growth Southeast start the extremely that in backdrop well-positioned producer first Thanks attractive downstream I to ground all growth very is markets. all Louisiana. the They of year-over-year. our EnLink seen segments as macro given connects EnLink think platform with for with were you've our well-positioned the pipe question. Gabe, the for in

So it's very exciting time.

are We With a to a it space. regards for is be well-positioned first space. in mover to that the XXQ, definitely positive

multiple discussions with We are multiple in parties.

positions with will the certainly this economics XXQ marginal the opens emitters. that with the more attractive forward. the will I our growth in of bring the in projects recognized high in-ground space. think pay for XXQ That the window well XXQ, increase coupled direct facilitate expansion to the it's

So, activity We the in we have grow, regulation anticipate seen activity, the that very will space. post changes. robust only

with My background COX space obviously a positive. very the very, very been So around time. long

the in position attractions mover first to One of EnLink was Southeast the Louisiana.

energy along corridor potential see also industrial transition hydrogen. River We the for with the the emitters, adjacencies Mississippi in

to So, exciting which think accelerate it look space. movement in be activity We seeing details a the I it's build. Very time to area. supportive be here, out to the think the coming I forward very of was will anticipated. of Washington, And that in out this

Gabriel Moreen

in Do the just maybe commercially customer maybe that see Jesse. in can Matterhorn. Permian? question of you facilitate you the and own its business, about up I'm particularly I helping kind volume. guess can sure talk integrating with, rate you the it of view stands how a I you Thanks, project if of the project rest own grow, follow merits with on [ph]. on And its and if returns But

here? picture to the So just of bigger I'm curious kind connection the

Jesse Arenivas

that take question. will Ben think, I

Ben Lamb

What some diversity is Gabe, outlets. additional gives our in residue you're us Yes. does right it it there.

in taken there But of their of product. our been Texas. for grown, has as the gas So and customer that of portfolio they base gas the the in there's locally care most business broadened, has we've marketing West diversifying interest historically, receive prices

continue then while exposure quite now, we'll there project. locally in of Matterhorn the now, market And Texas, we'll -- have West market. Agua of as to of Katy, Whistler we'll so to have the off gas the exposure part also And a bit to in Dulce

in some on And they be as the basin still tight gives gives received the over importantly, it them assurance, time. flow expect most producers the we all to diversity so, additional product. for continue residue our And to price

Pablo Mercado

does If EnLink, grow I you perspective, is just important the does that. as kind part to objective downstream business ours of of what an it exposure, picture beyond to Permian which at it the add From for broader that. a to add know, our continue of and been has an is

Gabriel Moreen

Thanks, in some question commodity if CapEx of curious, conclude this some stay and on, anticipate last growth And modifications Ben. then Thanks, can if in XXXX. prices of maybe they I just just to just where Pablo. I the with the order are DC, pressures. CapEx base some your higher. I guess CapEx extent, pressures kind motivating And changes? to materials also, this And cost creeping just little bit maybe the commentary wanted of kind is then of the any on of a on get cost to

Jesse Arenivas

Dave. Thanks, Yes.

So to on They're of let year. CapEx me all end scope. due first changes question for start the the back with your this

this Matterhorn plant that in an volumes, incremental inflation they're relocation. have and the that a to perspective, from so, fortunate the the year course, project handle projects And CapEx of budget is biggest incremental investment. We're then, we

EPC also have on. that the we we cost in locked contractor the So project with early and materials the of

so, the is course, and has broader early a days. comment team in we're inflation inflation But I'll ask there XXXX CapEx, other bit it's of the to little Ben going to I'm in with to and business. question on a seeing job. system. your answer great what But some And our respect done

in budget in give as a right we our see the our guidance will what late I We can do is now the similar at we time year the and that. business. to level But you we get tell of with you activity develop producers

year. CapEx that plant projects But beyond infrastructure, be connects to to base relocation that, say, got I it like the this pipeline you is this of so which similar think that And thing, big refer chunky the we've I'd some kind to, well year. will

know, year, absent like next efficient free to therefore always But come So working add. should that projects go on down, as up. CapEx flow and we're cash you should projects

But can't that's I very so, answer. it. a how give And about we're you specific thinking

Ben Lamb

Gabe, that inflation, I on topical. And know very

at to of On great in suppliers of advance, nice really EnLink. all country here inflation our care place industry with lives putting see sourcing we've And the taking got that some done the us. cushion the that one team pressures hand, every procurement that of the partnerships and a inflation day. and a frankly, our we're of not us in they've strategic But major impact job in in chain immune on supply

we're broadly, in inflation don't for And EnLink. an So, the some maybe have the revenue big on is escalators we of are cost Steel it of those materials. offset side into of see realize issue. it bit issue we're the side, where cost utilities. capital lubricants, creep. year, we we bit business seeing as prices that But but a helped our also seeing some raw a more Because in on less pressures, that consumables, more us little obviously as chemicals, a of even this XXXX, may it

us. it see a issue for don't major we as so, And

Gabriel Moreen

guys. Thanks, Great.

Operator

Holt. will come & Pickering with go question Endsley Tudor, from Next Please Michael ahead.

Michael Endsley

of year starting outlook break somewhere or puts is $XX you it looking date pricing $XX disclosure, volume the it's Hey, better I thus could of a from to at the forward, million on of kind increased at that that, far? just I I EBITDA the contributions. based flow and or just just whether million through The sustained just outperformance your the on for takes down going remaining commodity somewhere so, the can good morning. range around And by guidance. half that, CEQP on midpoint. call guess, guess assume

Pablo Mercado

has first nice in time pleased Michael. activity, This half able We're be that's job second a done the commodity executing team increase this in but to Pablo. for more had year. the year. a of the And certainly resulted our price of Thanks, great to guidance Yes. is we backdrop

performance the Good that's the piece. obviously, first So first half. in

acquisition back half on You're that. plants, their the right and executing about producer what then is activity doing up from up, Crestwood the from were they of from really that incremental do just said firming producers the are million going balance they the there's And $XX really in to volumes firming year.

Michael Endsley

guess Thanks, Pablo. then, And it. allocation. I just over capital pivoting Got to

of Looking distribution a longer what you metrics on index speak determine level, you peers? you [ph] about term, the it's you to yield, you And can to level, relative elaborate then, if to appropriate a comp guys thinking repurchases all look unit whether yield of of how potential can increase Or at there's evaluate versus own you're that an kind that distribution? as to? your just broader to kind kind

Pablo Mercado

Yes.

One, the look, $XXX we're been of of lot the lot a position at we've to With cash of million sheet. in to do great which a lot good of us of flow respect capital the increase in with Two, gives delever able flow business return of on generating cash of We're a that projects. really And just three, things. to allocation. flexibility and guidance, balance free So, with lot distributable flow, cash optionality. common a a unitholders. grow excess capital midpoint the the

preferred over that that So, we of to with we've way trading attractive. at see At particularly than stock free until last distributions, the the we're price $XXX months the multiple EBITDA, after time, that that that today. seen couple the are this our and million the the to cash of low a unitholders. I We the therefore, on XXXX pullback think that's half do common think in with we preferred method you'll as think that that, going more note flow buybacks is of

off doesn't a become those the from less do each about at and today. our table to ballpark. that distribution the take the modest like look relative peers, I our look a yield we'll at looked have we valuation would most relative staying it's and these we yield. sure perspective, vehicles say make we the on and certainly potential yield We repurchases, stock increase, Now, feel we're at But the that in that multiple we're attractive the and -- the quarter.

Michael Endsley

Awesome. Thanks for all the color.

Operator

Instructions] Cusimano from Pickering Our Michael Energy Please with go ahead. will next come question [Operator Partners.

Michael Cusimano

Hey, morning, good everyone.

Jesse Arenivas

looks a Michael, Hey, [Indiscernible]. new you like had

Michael Cusimano

Mont fire the since new all gotten quite that rates? out. frac been that's we few XX change to any months But is in SIDs XX affected Belvieu unfortunate this seen capacity coming. earlier a Are How had business you summer? We've of

comment that? So, you can if on curious

Ben Lamb

Yes. Michael, it's The Mont already the before frac was the tighten up of Ben. and market to out frac Belvieu went beginning Midcontinent service. in

some with And so, also a are ourselves fortunate term arrangements have Belvieu, the We market, frac at own have time. for fracs because includes of we capacity. tightening portfolio in certainly a that position, seen in our fractionation place spot we but have commercial in in a others of some Mont Louisiana, that been in

tightening a do economics, a a to little material say when up us, do either we barrels not cost give frankly, material but I'd way. don't few operational And to a have to so, and exposure at have an opportunity of to market on impact the perspective. bit more frac from it that the so, may attractive us into Louisiana we slip capacity

Michael Cusimano

it. Got

if remember And last I kind halfway a majority of That's year, Okay. this Oklahoma helpful. are similar quarter. throughout Or fourth cadence then, steady we little like a a shift bit. I completions seeing year? weighted expect of state you can Should the were activity? your back in

Ben Lamb

Yes, Michael. Yes.

volume the have in well today we've But over we we've a to the point, year within volume the think flat last has is third. ago. half inflection compared connection, second on half, And than the weighted weighted fourth we many first got reported twice had really year, was flat remarks and in compared an in about What quarter second stabilization been do I as Oklahoma four, cadence essentially frankly, seen even prepared this the to second have we in is. a at fact, it disproportionately And half. is that as quarter, -- business said we quarters the the it the to it's Oklahoma what the last five to I a of volume. half,

ground happening activity at And running, rigs is seven activity the have XXXX. growth That so, the that's rigs right going the Oklahoma. today, least moment in the in the we that's on the drive meaningful volume at to

think, bit a in XXXX. half, it little you're I second see going here in in but it to So see of earnest we'll the

Michael Cusimano

Got it.

that's petty Okay. could helpful. If the about little Yes, ask a meaningful term. I be and

Because like You've it is whole growth your meaningful. relative probably grown XX% to But Or year-over-year. have relative that Permian business, Permian would XX% in X% Is the to meaningful Oklahoma? relative meaningful be ago. I to XX% considered been to volumes I'm to year it a wouldn't asking here's think business? Oklahoma --

So, that help, actually more us give color what some looks can little like? a you on

Ben Lamb

Yes, I can.

business. that digits I a is which likely Oklahoma been year, ordinary of growth, has would XXXX. I What XXXX, as happens a It's describe not match high meaningful. today, Permian I high think to at in And with than be frankly, next plans considerably But producers instead work I year's that competent that meaningful is think which when to feel single So their there potential this is single great it as about something Oklahoma minimum, the we digit. upside the know second think we half in of for saying better that. the to through

Michael Cusimano

Okay.

to I very incremental And expecting. helpful. think that's that's think were I people what

details, Thank guys. the appreciate you. So,

Jesse Arenivas

Michael. Thanks,

Operator

Jesse any closing I would turn This like remarks. question CEO concludes to over for back and conference the our Arenivas, answer session. to

Jesse Arenivas

everyone call your call being for the you, support. Thank and for And you today Matt, on for morning. thank this facilitating the

a day. the and interest you always, in and healthy, we well, in As EnLink. with And you our meantime, investment stay have We results your we to look wish appreciate forward great third updating quarter continued November.

Operator

is Thank for now conference The today's attending presentation. concluded. you

disconnect. now may You

EnLink Midstream (ENLC) 4 Aug 222022 Q2 Earnings call transcript