Dallas-based EnLink Midstream recently announced its third plant relocation. The relocation of Tiger II to Permian Basin remains on schedule to be placed into service in 2024Q2 from EnLink’s Mid-Continent field. Earlier the plant was known as Cowtown when it was operating in Barnett Shale with capacity of 150 million cfd.
Enverus said Permian Basin is delivering an increasing portion of EnLink’s profits. Permian operations provided 15 percent of the company’s total profits in 2020, 20 percent in 2021 and 27 percent in 2022. “They are expected to constitute 29 percent of the 2023 total,” Enverus added.
Natural gas gathering volumes for EnLink in Permian in 3Q were 6 percent higher than 2Q, and crude gathering volumes for 3Q were 13 percent higher than 2Q.
“EnLink continues to have multiple ways to win … through the strength of our traditional midstream assets or our growing carbon transportation business,” Jesse Arenivas, CEO, said Oct. 31. “Our Permian segment generated robust cash flows that we are returning to investors through our active buyback program.”