BELL RINGING
Enable Midstream Partners LP officials on Friday rang the closing bell of the New York Stock Exchange to celebrate the company's fifth anniversary on the exchange
Enable Midstream Partners' staples are solid returns and constant growth.
The company, which went public about five years ago, has achieved most of its growth organically.
Company official son Friday celebrated the fiveyear milestone of its stock being traded under the ticker symbol ENBL on the New York Stock Exchange by ringing the exchange's closing bell.
“It has been a very challenging environment in the energy industry, especially in the midstream space,” Enable CEO Rod Sailor said Monday in an interview with The Oklahoman.
“When the energy markets came down in 2014, we really focused on costs and capital efficiencies,” Sailor said. “Since I came on board in 2016, we have continued to operate as efficiently as any of our peers, keeping disciplined in how we operate, invest and grow. I think we did as good of a job as anyone in navigating through those waters.”
Since going public in April 2014, Enable completed:
• The Muskogee Project, a 228,000 de kat her ms-perday transportation service agreement to supply fuel to Oklahoma Gas and Electric's Muskogee Power Plant.
• The Cana a nd STACK Expansion Project, a 205,000 de kat her ms-per-day transportation system to move growing natural gas product ion from well sin the Anadarko Basin.
• Project Wildcat, a 400 million-cubic-feet-per- daysystem, moving produced natural gas liquids from the Ana dark oB as into north Texas.
• The Bradley and Bradley II natural gas processing plants in the Anadarko Basin, each capable of processing 200 million cubic feet per day.
Enable also acquired Align Mid stream, extending its Ark-La-Tex foot print and further optimizing midstream services there, and acquired Velocity, entering the crude oil and condensate gathering and transportation business in the Anadarko Basin.
Additionally, it completed a crude oil and water gathering system expansion with ExxonMobil subsidiary XTO Energy Inc. in the Williston Basin.
And it is working to get regulatory approval for its Gulf Run Pipeline project, designed to move U.S. natural gas supplies from northern Louisiana to the Gulf Coast and backed by a 20- year commitment with Golden Pass LNG.
Its operational results also continue to improve. Enable posted a 4.3% increase in gathered volumes of natural gas, a 9% increase in processed natural gas, a 14.4% increase in daily volumes of transported product and more than tripled daily volumes of oil and condensate gathering in the second quarter of this year, compared to the same period a year ago.
Enable was created in 2013 by CenterPoint Energy and Oklahoma Gas and Electric Co. before it went public in April 2014, and the two companies remain its largest unitholders, with each filling two spots on Enable's board of directors. The company has 435 million units on the market, and has consistently distributed $550 million to unitholders through dividends annually.
With the exception of one debt offering for $800 million the company made in 2018, it has primarily relied upon using i ts cash fl ow to grow its gathering, processing and transportation systems, officials said.