One could describe Dallas-based Energy Transfer as a Swiss Army Knife of midstream services, and they wouldn’t be wrong. With 120,000 miles of pipeline systems and operations that span 41 states, ET is the largest of the nation’s energy infrastructure machines with tentacles in crude oil, refined products, natural gas, and NGLs.
Reese Energy Consulting today is following the latest from Energy Transfer, which reported a 4Q net income of $1.16 billion—an increase of $234 million vs the same period in 2021—amid record NGLs volumes and a slew of achievements tucked in its belt. ET suffered through the 2020 pandemic with stinging losses to emerge a year later like a hungry bear with its $7.2 billion merger with Okla. City-based Enable Midstream. That deal has put serious oomph in ET’s natural gas and NGLs transportation and fractionation businesses, adding more volumes and fixed-rate contracts, as well as gathering and processing assets in the Anadarko, Arkoma, and Haynesville. Fast-forward to 2022 when ET announced services on its new Gulf Run gas pipeline in La., the Grey Wolf processing plant in the Permian, and an expansion of its Nederland NGLs terminal. The company also reported new construction starts on the Bear plant in the Permian and an eighth fractionator at Mont Belvieu, in addition to eyeing carbon and LNG export projects.