Enlink Midstream (ENLC)

EnLink Midstream owns and operates approximately 9,800 miles of gathering and transportation pipelines, 18 processing plants with 3.8 billion cubic feet of net processing capacity, and seven fractionators with 280,000 barrels per day of net fractionation capacity, as well as barge and rail terminals, product storage facilities, brine disposal wells, an extensive crude oil trucking fleet, purchase and marketing capabilities, and equity investments in certain private midstream companies. EnLink Midstream is sponsored by Devon Energy, and thus, has a large amount of exposure to Devon's production activities in Oklahoma and the Barnett. EnLink reports financial results in four segments according to the type of activity and geographic area: Texas, Louisiana, Oklahoma, and Crude & Condensate.

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EnLink Adds Tall Oak System to Meet STACK Growth

EnLink Midstream (ENLC) has added G&P assets in central Oklahoma to manage supply growth in the Anadarko Basin. ENLC did not disclose the counterparty on in its 4Q22 earnings call, but East Daley has identified the seller as Tall Oak Midstream.

In September 2022, East Daley flagged a looming infrastructure constraint on ENLC’s Central Oklahoma (COK) system, as result of increased rig activity in the STACK that we allocate to the COK system. We highlighted the need for additional gas processing capacity after ENLC had previously relocated its Thunderbird and Battle Ridge facilities to the Midland Basin.

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