Business mix
- The company operates in two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.
- This segment also engages in the transportation and storage of natural gas for intermediate and end-user customers.
- The Gathering segment owns and operates gas gathering systems.
- It serves natural gas producers, local distribution companies, electric power generators, industrials, and national marketers.
Current key questions
- How sensitive are revenue and cash flow to commodity prices, production volumes, and demand in oil & gas midstream?
- Can capital spending, reserves, decline rates, and operating costs support durable free cash flow?
- Do balance-sheet discipline and shareholder returns remain resilient across the energy cycle?
