EnLink Midstream, LLC
enlink.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2024 10-Q, filed Nov 8, 2024. Its latest SEC filing is a POSASR from Aug 6, 2025.
10-Q for Q3 FY2024, filed Nov 8, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Gathers, processes and transports natural gas, natural gas liquids and crude oil for producers, utilities and industrial users.
10-K for FY2023, filed Feb 21, 2024We primarily focus on owning, operating, investing in, and developing midstream energy infrastructure assets to provide midstream energy…View ↗
gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and…View ↗
Our natural gas gathering business includes connecting the wells of producers in our market areas to our gathering systems. Our gathering…View ↗
Our large diameter natural gas transmission pipelines provide access to multiple domestic production basins to a variety of customers, such…View ↗
Our crude oil and condensate business includes the gathering and transmission of crude oil and condensate via pipelines, in addition to…View ↗
How Did They Make Money?
Customers pay fees for gathering, transport, processing, fractionation and storage, often based on volumes or a stated monthly amount; service fees are earned as the work is provided. In some arrangements, EnLink buys and resells commodities and keeps a service-related margin.
10-K for FY2023, filed Feb 21, 2024Across our businesses, we primarily earn our fees through various fee-based contractual arrangements, which include stated fee-only…View ↗
We manage our consolidated operations by focusing on adjusted gross margin because our business is generally to gather, process, transport…View ↗
We gather, transport, or store natural gas owned by others under fee-only contract arrangements based either on the volume of natural gas…View ↗
We typically buy mixed NGLs from our suppliers to our natural gas processing plants at a fixed discount to market indices for the component…View ↗
The identification of performance obligations under our contracts requires a contract-by-contract evaluation of when control, including the…View ↗
$6.9B
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10-K for FY2023, filed Feb 22, 2024
$6.9B ↗
Who Were Their Customers?
Producers connect wells to EnLink’s gathering systems. Utilities, industrial users, LNG facilities and marketers receive or buy gas and other products through its pipelines and terminals.
10-K for FY2023, filed Feb 21, 2024Our natural gas gathering business includes connecting the wells of producers in our market areas to our gathering systems. Our gathering…View ↗
Our large diameter natural gas transmission pipelines provide access to multiple domestic production basins to a variety of customers, such…View ↗
Our crude oil and condensate business includes the gathering and transmission of crude oil and condensate via pipelines, in addition to…View ↗
10-K for FY2023, filed Feb 21, 2024
Year Ended December 31, 2023 2022 2021 Dow Hydrocarbons and Resources LLC 10.4 % 14.2 % 14.5 % Marathon Petroleum Corporation 19.3 % 14.7 %…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 3 cents of every revenue dollar as net income in FY2023 and turned 11 cents into free cash flow.
10-K for FY2023, filed Feb 22, 2024
$692.8MView ↗
10-K for FY2023, filed Feb 22, 2024
$206.2MView ↗
10-K for FY2023, filed Feb 22, 2024
$777MView ↗
How Were They Changing?
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Jan 31, 2025
ONEOK completed its acquisition of EnLink
EnLink units not owned by ONEOK were converted into ONEOK common stock.
Sources
8-K, filed Jan 31, 2025
As a result of the Mergers, each common unit representing limited liability company interests in EnLink (the “EnLink Units”) issued and…View ↗
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Jan 10, 2025
CEO Jesse Arenivas announced departure at closing
His departure was set to take effect when ONEOK closed its acquisition.
Sources
8-K, filed Jan 10, 2025
EnLink Midstream, LLC (“ENLC”) has announced that Jesse Arenivas, President, Chief Executive Officer, and a member of the Board of…View ↗
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Oct 15, 2024
ONEOK acquired control of EnLink
ONEOK acquired common units and all interests in EnLink’s manager, taking control of operations.
Sources
8-K, filed Oct 15, 2024
On October 15, 2024, the transactions (collectively, the “Transactions”) contemplated by that certain Purchase Agreement, dated August 28…View ↗
Grew. Revenue grew 14% in 4 years, from $6.1B in FY2019 to $6.9B in FY2023, about 3% a year.
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