Two years after Energy Transfer acquired Enable Midstream of Oklahoma City, the company reported third quarter transport records along with third-quarter EBITDA of $3.5 billion compared to $3.1 billion a year ago.
Energy Transfer expects things to only get better in the fourtyh quarter, especially after its most recent acquisition, that of Pioneer Natural Resources. The Dallas-based company recorded a 14% increase in transportation volumes and its exports gained more than 20%. Its crude transportation increased 23% and the company’s terminal volumes grew by 15%.
Executives told a conference call the additional production was the result of its $1.45 billion merger with Lotus Midstream Operations. The merger gave Energy Transfer another 3,000 miles of crude oil pipelines.
It was just two years ago when Energy Transfer completed its merger with Enable Midstream Partners, LP. The 2021 merger gave Energy Transfer a total of 114,000 miles of pipelines in all major U.S. producing regions and markets across 41 states. It also boosted the company’s midstream and gas transportation systems in the Anadarko Basin and gas gathering and processing assets in the Arkoma Basin across Oklahoma and Arkansas.