Latest News and Analysis
Deals and Transactions
Track Drilling (Rigs by operator) | Completions (Frac Spreads)

Energy Transfer 4Q 2019 Project Updates; Permian, NGL Processing

emailEmail    |    printPrint    |    bookmarkBookmark
   |    Monday,February 24,2020

ET reported net income attributable to partners for the three months ended December 31, 2019 of $1.01 billion, an increase of $395 million compared to the three months ended December 31, 2018.

Distributable Cash Flow attributable to partners, as adjusted, for the three months ended December 31, 2019 was $1.55 billion, an increase of $30 million compared to the three months ended December 31, 2018.

Key accomplishments and recent developments:

Operational

  • In October 2019, the Permian Express 4 pipeline expansion went into full service.
  • In December 2019, ET and Shell US LNG, LLC (“Shell”) announced that a comprehensive commercial tender package has been issued to engineering, procurement and construction contractors to submit final commercial bids for the proposed Lake Charles LNG liquefaction project being jointly developed by ET and Shell on a 50/50 basis. The project would modify ET’s existing LNG import facility in Lake Charles, Louisiana to add LNG liquefaction capacity of 16.45 million tonnes per annum for export to global markets.
  • In February 2020, Frac VII was placed in service, bringing the total fractionation capacity at Mont Belvieu to over 900,000 barrels per day.

Strategic

  • On December 5, 2019, ET successfully acquired SemGroupand as a result of the merger, ET issued approximately 57.6 million of its common units to SemGroup stockholders. The combined operations of the two companies are expected to generate annual run-rate efficiencies of more than $170 million, consisting of commercial and operational synergies of $80 million, financial savings of $50 million and cost savings of $40 million.
 


Related Categories :

Midstream - Pipelines   

More    Midstream - Pipelines News

Ark-La-Tex News >>>


Permian News >>>