ENLC - Earnings call 4 2023 | EnLink Midstream, LLC

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Operator

Greetings, and welcome to the EnLink Midstream 4Q 2023 Earnings Conference Call and Webcast. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. If anyone to require operator assistance during the conference, [Operator Instructions].

As a reminder, this conference is being recorded. pleasure Relations. your my Director Brian now Investor of is to host, introduce Brungardt, It Brian. you, Thank

You may begin.

Brian Brungardt

earnings turn on investors.enlink.com. questions are Thank to including undertake the Dilanka website. presentation Officer; date the A of Participating Today's discussion and EnLink's and Seimon, Fourth call you, update of obligation good on and as Quarter also press encourage yesterday, XXXX our morning, session. Lamb, in the review of today's appendix release press may financial and call our cause the release, release Ben Executive Vice of SEC our Vice and measures. of made Jesse, meaning the Earnings available discussions a Chief presentation actual Executive and speak Arenivas, you This and will issued under GAAP Operating the will release non-GAAP the certain the forward-looking these call Chief President we to with President also by We in including results statements, differ that, available include and SEC disclosures today's room Arenivas. the Jesse also set Chief Factors. Officer. in as be Risk projections markets Jesse could our our as or other laws.Â The materials those closed everyone. cautionary Actual to of expectations President would We'll call our within Q&A Ben replay and Financial and presentation. of be includes brief no in Welcome to from of on to Chief then of comparable pertaining statements leave the answers. measures With over Officer; at after and well discussion call, website call remainder I measures remarks and Vice start are are questions statements predictions during now securities for Definitions made federal reconciliations factors the in results answer our prepared any can that Officer, only materially We and our press Executive today those to like and and a Executive found revise. the Walter Commercial to to of heading call filings, the differ Call. our is of this Pinto, Dilanka files. forward-looking and open

Jesse Arenivas

quarter for discuss good us and which you everyone. it XXXX XXXX outlook, like solid our to Brian, morning, activity. our business today full by joining results. Thank great another also year looks driven be Thanks, fourth results We'll will and discuss

X% flow of and adjusted XXXX of free nearly for million number execution a after of billion. approximately solid adjusted of back team's EBITDA proud $XXX despite These at distributions drove environment. volatile marked results solid the of the we over challenging $XXX prior growth cash XXXX. of I'm This strong year. driving and Looking records fourth commodity quarter EBITDA million night, the Last 'XX, reported $X.XX

to a use distribution. announced continue X% we increase return our We this investors.Â Earlier after distributions year, cash quarterly capital to free to our our on robust flow

at and The asset momentum become the we this rate growth to segment by later unit will details more partly be announced a certain range. at Ben million XXXX, released X% into at authorized EBITDA our we an lower repurchases. program Since cash executed continued the generation, $XXX million update North consistent will which expanded Growth of guidance.Â Earlier forecast Additionally, ORV in in this offset of Last our we late the billion of consecutive program adjusted legacy capital year, the began increase our midpoint to our approximately this night, reset transportation common common our business, that for represents million of businesses the a distributions common in our which call, repurchase total ExxonMobil. this Oklahoma have and largest fully of flow the $XXX unit the but for by by solution outstanding. The those will Texas we least repurchased strong midpoint continue to Overall, Board from cash units largest agreements. $XXX another XXXX. impact XXXX guidance our repurchase year. program. we noncore after repurchase third we will coupled significant drive the $X.XX XXXX, of commercial in led million around we be we year followed with contractual unit flow in expenditures Louisiana, free forecast Permian, COT late the second sale year expect provide $XXX in

the place, role, and to carbon projects energy in Island the in and project.Â Meanwhile, collaboration together Island other New continue work to Solutions investment agreement prioritized of be our our near-term transportation Pecan with reassess facilities Orleans withÂ Exxon our the expanded COX forward reach this may the agreement it EnLink Gulf a execute reliable represent commercialization XXXX expanded We're met and project's COX and provide EnLink discussions for our with continuing cost-efficient Pecan ahead industrial River acquisition Coast over safe, other that agreed COX may multiple along commercial reduce transportation on to Gulf expectation expertise Coast. gain space. continues Following opportunity the XXX the look of the opportunity COX help recent the in areas as atmosphere. evaluation, In to excited and to ExxonMobil Coast connection ExxonMobil's and transportation between In Houston beyond efforts to and into Denbury, closely the total, larger we markets.Â EnLink across today across Gulf million into the Transportation to the and expand to metric Mississippi remains tons ExxonMobil of initial transition corridor. emissions since while original expanded an

During Bridgeport Texas. a facility capture our metric our transportation online to the by North facility project emitted With largest Ultimately, of provide milestone deliver achieved to North it Bridgeport at we fourth we permanent I update site on by up will turn our evolving expect in XXX,XXX tons an carbon that, quarter, to and bringing COX segment. BKV. to Texas a over customer, Dilanka by sequestration our Louisiana developed and it our capture to

Dilanka Seimon

we quarter, and how good shifted and everyone.Â Last market supply the the Jesse, dynamics over Thanks, morning, demand gas Louisiana year. past have discussed

rates from in the X EnLink I time realizing full first the we this wanted are While phases. shifting at and this business spend began we continue. focused our value of assets, of to we we terms. provide We and can to benefit an and the from this longer renewing phase, opportunities, dynamic see for often In stand benefit expect to to to half the XXXX, benefit update and to current higher second continue discuss evaluate on how in

less as and pipeline focused And of include months expire the relatively of EnLink These renewed, in southern quick and contracts EBITDA provide a XX as generally rates growth $XX projects of the miles approximately projects. estimate of higher across typically XXXX Hub. pipelines. second million, and offering or compression upside existing part to economics, in very and short approximately are connect Henry is are we particularly operate over looping multiples. the systems for of execute to value than customers attractive low dozen connectivity, systems We Examples Louisiana. on well own we beyond.Â The debottlenecking phase third-party is we major in further intrastate As single-digit X and the X,XXX distances XXXX significant see adding

Beyond EnLink's system. the shifting phase quick, efficient and projects, a demand third dynamics debottlenecking potential growth of supply for Louisiana create

today capacity forces years and in gas only online demand industrial as storage market to grow we several next over for natural expect As support projects, for the the larger customers. new to Louisiana Zhu our with impacting this [ will as rising growing the comes LNG natural pipelines emerging ammonia ] stronger.Â The of expansions the need gas serve such projects, drive markets and such may demand export

natural about gas Since and meeting the have engineering progressed that focused our by we environment, been that currently We remain have storage earnings an by and we portfolio. evaluating this this, are of XX gas underwritten mentioned of natural Bcf. can the capacity expand capacity. this studies we working expand to incremental Bcf needs last opportunities we in to are committed we customers storage range, call that marketing estimate on capacity are storage have when strong In While commitments. capital-efficient projects we new currently X customer salt our

ago needs during X operations this on to and quarters, system continue grow the system. an it period will for but updates shifting EnLink's and to is that, time exciting Louisiana decades several of in projects of on an turn our footprint over unique and over financial We In remain our our this longer-term example our short, Louisiana overview this these to exciting demand meet results. focused With to optimizing provide customer and the of dynamics. acquired We opportunities coming years. next is the latest supply this over I'll its Ben system provide

Benjamin D. Lamb

the of good derivative start and tied $XXX.X plant XXXX million, million unrealized relocations of and gross everyone.Â Let's quarter approximately expenses of profit $X.X where in with operating Dilanka, the came million Permian, fourth morning, including segment at gains. Thanks, to for $X

segment gathering volumes profit sequentially fourth X% for our a Excluding gathered year in Producer year relocation X% prior and natural decreased behind grew volumes record higher and activity plant approximately XX% remained activity, sequentially quarter quarter. than the from the but gas unrealized derivative XXXX XX% robust, higher the driving prior average OpEx quarter with of quarter. systems

results Louisiana. $XXX.X segment along to including derivative the unrealized from in of quarter normal NGL in gains. Segment profit for of million, another $X.X now with million XXXX strong performance at came the in seasonality. of gas We Turning solid segment, fourth benefited the quarter that experienced

prior multiple of grew unrealized This unrealized to a represents segment assets EBITDA.Â Moving We of XX% X% for Valley gains. approximately $XXX Oklahoma. fourth compared our in approximately derivative for quarter, fourth the fourth total XXXX and activity, the we of quarter.Â During of fully million profit exited segment including million proceeds Xx approximately the the delivered the million. grew noncore up $X.X sequentially of approximately of XXXX, Excluding to of impact profit quarter $XX derivative River year Ohio quarter

the approximately from segment grew X% of year activity, quarter. sequentially profit XXXX in derivative the Excluding X% approximately prior fourth and unrealized grew quarter

remain segment we North $XX.X the profit million, as resilience Wrapping the prior sequentially for including with impressed up operators and with XX% compared gathering on we saw business flat approximately of our gains. higher continued quarter. $X.X During our was be year derivative unrealized Texas, million fourth quarter volumes quarter, active driving with rigs to the to the acreage, of

our were in approximately lower decreased after Natural the XXXX unrealized sequentially quarter.Â These approximately volumes solid and Excluding another with $XXX.X of compared with $XX.X cash prior to distributions. quarter sequentially results X% profit segment fourth in prior drove robust derivative were year in the the and expectations gas million quarter. from and and million activity, in year adjusted X% gathering EBITDA lower decreased flow quarter XX% line free X%

full cash year adjusted million to flow the fourth commodity the price were represents XXXX. adjusted $X.XX resilience expenses of quarter of after at our distributions the EBITDA $XXX X% over free contributions net delivered EnLink and XXXX, the year, volatile and despite For asset plant investment EnLink diverse environment.Capital the base EBITDA of This billion relocation reflecting of growth expenditures million. prior in $XXX in

below we side, at per S&P a at capital grade common On the and both be strong We remain sheet investment and at at capital to fourth Consistent liquidity. to leverage ample positive position the fourth we to a Moody's distribution to with a quarter of unit increase X% investors, quarter, the balance investment increased a of and XXXX. with over which the plan unit our represents quarter, the Fitch fourth $X.XXX X.Xx end ratio with in retain return of continue our notch we grade very S&P. X outlook allocation quarterly in

fully of $XXX consistent we the representing repurchased settled the XXXX, to well late to quarter, as fourth common repurchase XXXX of after our X% units the pro the of expanded our generation at repurchase turn our of announced beginning beginning nearly quarter.Â Â Following which our units end authorization million as authorization, of our the unit the including the a GIP's ORV outstanding in noncore have Board the reflected During XX share, We The units, XXXX yesterday. our now common activity.Â Now sale flow common strong increase me million. portion guidance let we free proceeds cash from common assets. that approximately increased to approach rata executed the repurchase

offset escalators we and be year solid momentum in of these the is we legacy onetime our outlook midpoint in approximately assets X% to compared agreements. position between to the ORV In resets, solid years billion. resets From EBITDA inflation base to $X.XX in commercial forecasting and included of you contracts growth in were largest to standpoint, expiration of through while a approximately solid year prices. no to original North an reset We onetime with a the to continue Louisiana, partially adjusted annual Texas rate These forecast and now is sale X impact and When late XXXX asset contractual sale with the by rate results. ended X escalators. billion the our expire $X.XX XXXX.Â Turning in pre-agreed remain forecast of and extended noncore segments, XX% the in This XXXX adjusted impacts, the certain this date fees. outsized are are partially now XXXX, from a ORV and annual These inflation the rate commodity resets. onetime contract's back at recent reverses further the the We XXXX another Oklahoma EBITDA XXXX fee-based. and XXXX, guidance contract effect, business reset range reflects contracts look agreement and of Permian grow the to

respectively. $X.XX and year, exposure prices For took XXXX the our no Like for $X scenario to a we Waha supportive natural results. per $X we down respectively, MMBtu EBITDA current XXXX minus and impacts level million, Accordingly, the prices focusing second our Hub opportunity barrel provided. prices the basins per per of large we per plus guidance, segment providing in last $X and take or increased to on WTI visibility $XX MMBtu, our the assumed half of $X in and a guidance curve gas above XXXX at forecast XXXX advantage average volumes.Â Taking assuming and levels, significantly majority Henry of and by of of hedged financial forward approximately adjusted million ranges of barrel the to midpoints change the and

increase Tiger to representing million, increase We representing year online by to another come is plant Dilanka second that spoke are of profit gas in in a increase about significant XXXX XXXX. relocation including processing business the for expected Permian natural reminder, of business Louisiana is profit fundamentals segment X%. the approximately As projecting quarter be for XXXX of with our facility for forecast of mainly driven segment be growth to The expenses, an $XXX earlier. improving $XXX forecast an XX%.Â approximately is X our million, our

approximately JV, expect customers in to flat XXXX. sold, from the even Excluding assets Devon Louisiana volumes the the a that contribution from be growth compared keep we from Dow Oklahoma, XXXX higher.Â In we ORV will other activity will along activity the little with XXXX

represent over representing Oklahoma business reset our the be for onetime given for Oklahoma represented has by about the representing our driven gas-oriented the Texas would conservative their our cause XXXX, be approximately in talked decline of Permian expected The This XXXX completion and and reset, our impressive, forecast the million, growth is and years impact estimate the demand drivers profit gas volumes of XXXX that onetime Texas a of and XXXX been based a in a hypothetical drilling X%, current Said volume is Louisiana profit. XX%. shortly, our drilling current price business. view deferral rate coal guidance customers to We extreme associated on producers reflects approximately of downstream prices gas approximately but in aggregate our may environment. Texas of segment expectations. XX% $XX Back producer XX% have $XXX gas Louisiana.Â While mix. and million. Oklahoma are profit a the we reflects delay completion most the Today, is of impact transformation XXXX plans the growth both major North North in natural part by several basins Permian rate decline also in by $XXX and and of last the segment outlook to XXXX segment North our in an in volatility I driven largest however, X-month forecast approximately However, profit production thereby to million, is the recognize plans, on markets earlier.Â Finally,

front, said we've natural in before plus Tiger contributions to years.Â On the the that Oklahoma for with market associated expenses net plant $XXX investment million. supply the help and and relocation longer operating are EnLink and the very X bullish As gas we forecast be to million though, capital between growing need total expenditures investment term, Texas remain North $XXX demand coming and to on

focused projects As remain we I capital-efficient, point spending out capital with million approximately ExxonMobil. our we on to have high-return $XX outlook previously of discussed, projects. includes CCS spending for that want

this may Exxon optimal described will to opening Jesse With EnLink participate solution. with range in the the CCS which work cash we a forecast As in distributions flow in increase number that for as in we finding market flow and after to from XXXX free his in remarks, perspective, expect the and a $XXX mind, toward solution cash free compared change million. that of caveat significant $XXX million ways the

clarity team moving year. recent and as potential XXXX $XXX this on some Despite on the goes in As volatility, to January, for to million our expect by did led as momentum the rise for well third see in and we reauthorized unit more as are we it number X disclosed last XXXX, projects.Â In back common pieces, over consecutive year positioned the the the There we that, in turn repurchase the EnLink our XXXX. to CCS our results Jesse. a program delivered Permian the segments, Board gained of year I'll Exxon-related Louisiana. assets the summary, With to largest including continue it grow, is solid

Jesse Arenivas

that, proud COX for now quick you open you, broader the and growth driving work you the of and into XXXX execution and the and Louisiana may With Thank of In in opportunity with summary, the we atmosphere resiliency Ben. I'm today addressed, questions. our CCS others assets ExxonMobil as for business call the assets, beyond. expanding our our emitted bigger

Operator

Thank you.

now [Operator you. moment question-and-answer questions. while please for will session. Instructions] we be a We poll One conducting Thank

Our Citi. line with Spiro first question comes the Dounis from of

Spiro Dounis

Maybe I questions want a related morning on to to few getting start with something we're Pecan this Island.

curious Just you projects could if the over on details prioritization look some us more like there. can give what

as far capital already As started tell, on I project. can some you've that spending

what some And are So to expect there? that? outcomes range us able would curious, when of update be to you of on the

Jesse Arenivas

Spiro, it's Jesse. appreciate I question. the

obligations the opportunity said of the we've start to we're optimization is timely the me for volumes. initial our the let existing a to of the going we expanded market. looking that that this agreement. addressable opportunities entails respect about both Exxon agreement extremely First, beneficial in With find most an that existing under River solution an the example opportunities as leads for acquisition EnLink. right, mutually more we timing, of have expanding to Mississippi What believe past, for cost-efficient, by those market, most the outside to identified, We're Denbury in share gain as And saying with corridor. to excited -- of be larger for we've

highly get both we quickly. to very have So incented -- work this through are

path dollars very acquisition. those capital you to perspective, of right-of-way spent to we a respect -- permitting forward most from on So were With the update soon. spend, timing the on hope that

we We have back reassess. a taken as step

optimized the be incurring spending future so identify we not will And until solution. we most

Spiro Dounis

or with I within Okay. per corridor. this about in Understood. tonnes guys talked projects expanding and know moving on something Jesse, you of discussion order that thinking annum have I maybe sticking there. XX think, beyond topic the million River Mississippi about,

here your an can the a don't was that. think the we selling of get about repurpose lot curious brownfield one beyond that expand ground points I on position as if beyond. competitive can got I you've main know Just corridor, you as in that. of And think assets update that as you you of much

return some about So you're curious how that the of corridor? outside multiples thinking

Jesse Arenivas

expect Yes, midstream I those to I a multiple perspective, you think compete traditional think -- would we from business. our with return

So those to multiples will have be competitive.

competitive projects, Coast advantage, expand a is we have both ability Gulf area of we construction execute again, operations pipes. and Louisiana as COX in into decades-long where think agreements our on experience, I to is Texas our on

phase in now are Texas the our assets. North We of

the we've experience So there. got

there is that And a set we I pipeline beneficial are a execution, we in relationship there is the to think mutually customer is relationships. choice, to infrastructure transporter the out add be with relationship ExxonMobil, be materializing. value company the that of as timely experience, going

we a do value-add. ExxonMobil. I recognized it's think think And So have by I

Operator

you. Thank

next Our with of comes from the Brian Reynolds line question UBS.

Brian Reynolds

little more lot touch into M&A have of service forecasted on then some your going coming there A to growth it's into least bit. half. Midlands, Permian just counterparties Maybe should a back the And be that's you this the cadence some the Delaware in in growth, where year. of Matterhorn at amongst

this it would think there your Permian us across be just for in we great break So Permian apart year? base could maybe as asset the cadence you growth footprint your about help if

Benjamin D. Lamb

Look, Yes. Good Ben. in is there right you're Brian, morning this your commentary.

with driver the Tiger largely the see second look service of this X Gas expect in Midland it quarter the in you more segment. into Permian we the for plant to Delaware of our of If XXXX, gas year, was growth time side come year. coming in This at from just it the

service But as In terms third investment. in be in will of as the equity treat quarter. we Matterhorn, a reminder, method an that it

The the line, you're Permian own segment JV of in operations. Permian Matterhorn speak. the all below is there segment guidance in for hit that to profit you're for profit for seeing What Permian. will so And so not seeing our

Brian Reynolds

in market I an believe And CCS EBITDA maybe helpful. you're which Louisiana, opportunity to as last going set. Super Great. talked of million MCPA the quarter, opportunity of kind follow up questions. capture XX% to hopefully $XXX about of an on you some

are XX% up share, business ultimate than that, this still X.Xx we're that to even more Are your market given you substantial of could that? looking to you capture kind make looking XX% mix? of like not Just of earnings ultimately it make

Benjamin D. Lamb

on we out XX% not percent it initial we a just projects, -- anticipate But the gets XX%, than certainly, -- of the that identified those really geographic worked this and with we marker out that there a identified Those $XXX working not market, So of identified regions was includes that to that projects percentage and we market the our that what were total million was ExxonMobil share now put about identified into much to but optimistic earlier. business addressable and addressable a and expanded when were a multiple customers, larger that business beyond. do bigger were market. we talked have we are

Operator

you. Thank

next Tonet from the comes Our question line with of Jeremy JPMorgan.

Unknown Analyst

comments if This with any had additional other I on was Katz partners CCS wondering than is for progress on incremental just Noah you Jeremy. Exxon.

Benjamin D. Lamb

announcements the made, Oxy, continue those are the Shell, We with discussions public we've progressing.

I think taken a of privacy. One the uncertainties for would I little But then and anticipated. that's a Louisiana couple reasons. think XXQ these around longer we is regs than the have have

nicely. uncertainties are again, I will move lot that optimistic us, those things we're XXXX. very progressing behind in a are But those think these of and forward

Unknown Analyst

out That's the helpful. into XXXX? And what contract were on them follow-up contract a rolling the do rules, see where rules? as quick you And

Benjamin D. Lamb

it's Ben. No, Yes.

year when were then, for At And way of has that expires even in have of original XXXX. one in in time, And formed we them that So they were expired term. again now years We in X and been them XXXX. Devon XXXX. in out back extended this put would place EnLink to contracts contracts XXXX since we extended additional the pushed XXXX. an these them it

what's expiration at first we that's were XXXX just the that of reset pre-agreed at So rates in original time happened here contract's to quarter date, the numbers. the agreed XXXX. in the back And

won't meaningful reset It's impact in not further onetime and recurring So occurred. item. the rate XXXX. a a It's have has

Operator

you. Thank

comes Our with of Holt. Zack Van next question -- from line the Tudor, even Pickering,

Zackery Van Everen

be you well crude sounds well? like protected XX% that year? XXX% guys still natural hedge throughout Or to Just should to as one is changed process that on in NGLs hedging. pretty Flipping the side. It you're thought gas on the hedging the down

Benjamin D. Lamb

year that result the Ben. of gas million, though, being ahead this you is exposure is I a moves the WTI this on described our of $X forces about market The driven approach Generally, we've all Zach, the our gotten is I because our say approach. drive market. right. that by that's programmatic also ethane many same equal. that will else natural held mentioned In way prepared on $X change by remarks, that either for

it's a not way. huge frankly, either So driver,

bigger well. we course, is on as Of impact you the guidance that some activity, and around producer gave

Zackery Van Everen

good upside beyond? the Can It Perfect. guys you are contracts in pretty is left And additional from might see upside the legacy and last Appreciate seems that. rate resets. a you that are contracts of then maybe one just off in Louisiana. seeing that percent you rate on contracts the that give are like lower rolling 'XX

Dilanka Seimon

It's Dilanka and you said it correctly.

And those rates. bit contracts most are to more that little good of in seeing success higher into Ben transactions existing go. earlier, uplift a down, but renewing our XXXX margin. as made we've are the We And at mentioned

Operator

Thank you.

Our question next from comes the SatishÂ with ofÂ Praneeth Wells line Fargo.

Praneeth Satish

I think opportunity there to in factors thinking guys projects set? they on the guess about elaborate is going Coast new Gulf versus are you the I you with how kind or key working CCS maybe of about what the as Denbury? guess back delineating CCS. Exxon Can just between

Jesse Arenivas

It's Jesse. Thanks.

just ] green the also you've -- sites. Exxon, Denbury for can't I but think line came and speaking, got with I broadly [ additional others speak X the systems, sequestration

intersect that map, areas. a our systems EnLink, on multiple look you If line green in

quicker? think, this more looking to beneficial mutually get to for market to can can perspective. perspective, I we're do market, be can So these quicker as optimized how earlier, we share, So we right? How I get that's going cost how we opportunities said gain return a this from

collaborative it's a effort. So very

opportunities unique assets utilizing I opportunity, as broader a EnLink this provide looking the they're to the think move again, with could forward. Denbury at assets

Praneeth Satish

to Got I it. guess, storage. gears maybe then switching just, And gas

that this cost then expansion. what be? of with wondering you enough potential yourself having on that could finally, where to if would elaborate some in expansion brownfield discussions take Just Do there is that could X-year X- just of you you ballpark kind current customers scenario it? market contracts And on and the think expansion high to the is there Maybe market for you of a of rate if the Louisiana. you're storage kind support capacity

Dilanka Seimon

for the Dilanka. Thanks question. It's

significant gas commodity As multiple there to I as market exports, gas well. volatility, storage requires increasing have and issues increasing natural alluded operational for interest during driven LNG things, demand the natural storage is last manage by which call,

So level quite is high. the interest

In that X natural facilities in terms to that, storage our our operation Napoleonville Sorrento. today, response are [Indiscernible] of storage, gas between

at are best demands customer meet greenfield mix looking in try and timeline. projects the and to the is of brownfield that optimize what and We a solution to

quite pipeline of course, greenfield. benefit through very we then brownfield The and what found We Bcf So have versus is infrastructure. initial is market and definitely XX at we I about that get the one estimates rates out leverage we the today. of about connectivity don't becomes is, being already projects expand engineering Bcf from we've development can a And some now from second, this have that a to exists that X attractive brownfield think of great the cost mixture just can brand-new the studies all discussed. that significant

that of for be combination us. optimized a would the solution So

Operator

you. Thank

question of Jeffrey with Christopher from the Securities. Mizuho next line Our comes

Christopher Jeffrey

of in CapEx opportunities currently given. last follow 'XX, up the for looking question kind Maybe Or you've for confirm timelines you phases. guide captured in on are some of the just and of the to brownfield in that the if just in that general XX% opportunity are Louisiana expansion that that

Dilanka Seimon

and CapEx In little mid lot a developed Sure. the storage in bit that gas, natural a line. the of towards comes time of

in So have focused engineering CapEx permitting don't on we CapEx comes of in mainly and and studies XXXX. much 'XX It's beyond. the some

Christopher Jeffrey

as the guide. Got it. like at maintenance And what's 'XX. step-up color looks another CapEx 'XX there looking from just decent maybe It then Any a to driven? the for

Dilanka Seimon

a a do equipment. you where as schedule get where the our hours point point, maintaining that you to do Yes. machines of point maintenance at Really, a at on accrue minor And lot some you a is overhaul, to need to get need overhaul. major CapEx some our you happens on compression to

North it's on head and maintenance. nothing Texas year, a particularly So Oklahoma scheduled our more than in

Operator

are There I'd time. closing questions the comments. to at this over turn floor no like you. back Thank further toÂ Jesse ArenivasÂ for

Jesse Arenivas

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

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

Operator

concludes This today's teleconference.

your disconnect your at lines time. may this You Thank for participation. you

EnLink Midstream (ENLC) 21 Feb 242023 Q4 Earnings call transcript