Energy Transfer LP Q3 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

Business & Operational Highlights

  • All production previously shut in due to weak commodity prices has returned online, with no performance degradation from affected wells.
  • COVID-19 protocols remain effective; no disruptions to safe and reliable operations.
  • FERC issued the Environmental Assessment for the Gulf Run Pipeline, a key milestone toward final project approval.
  • Enable released its first-ever sustainability report, emphasizing environmental stewardship, methane reduction, pipeline safety, and community engagement.
  • Strong contracting activity in the transportation and storage segment with 1.5 million dekatherms per day of new or extended contracts since September, averaging over 5 years in life.
  • Construction began on the MASS project (100,000 Dth/d; 5-year commitment, in service Q2 2021) and the MRT Southbound Expansion entered service (80,000 Dth/d; 5-year commitment).
  • Gathering & Processing: All shut-in volumes restored; 6 rigs active on Enable’s footprint; approximately 175 DUCs across Anadarko and Williston systems.
  • Expansion of Anadarko crude gathering system into McLean County, Oklahoma; new customer added in Williston with a 7‑well pad connection completed.

Financial Performance

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Operator: Good morning. My name is Jason and I will be your conference operator today. At this time, I would like to welcome everyone to the Enable Midstream Third Quarter 2020 Earnings Conference Call and Webcast. [Operator Instructions] Mr. Matt Beasley, Senior Director of Investor Relations, thank you, Mr. Beasley please go ahead. Matt Beasley: Thank you and good morning everyone. Presenting on this morning’s call are Rod Sailor, our President and CEO and John Laws, our Chief Financial Officer. To achieve social distancing and limit travel, we only have a small group joining the call in the room today. But we also have other members of the management team on the phone to answer your questions. Earlier this morning, we issued our earnings press release and filed our Form 10-Q with the SEC. Our earnings press release, Form 10-Q filing and the presentation that accompanies this call are all available in the Investor Relations section of our website. We will also be posting a replay of today’s call to the site. Today’s discussion will include forward-looking statements within the meaning of the securities laws. Actual results could differ materially from our projections and the discussion of factors that could cause actual results to differ from projections can be found in our SEC filings. We will also be referencing non-GAAP financial measures on today’s call, which we have reconciled to the nearest GAAP measures in the appendix of today’s presentation. We invite you to revie

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