Business mix
- It operates in four segments: NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services; and Petrochemical & Refined Products Services.
- The NGL Pipelines & Services segment offers natural gas processing and related NGL marketing activities.
- This segment operates natural gas processing facilities located in Colorado, Louisiana, Mississippi, New Mexico, Texas, and Wyoming; NGL pipelines; NGL fractionation facilities; NGL and related product storage facilities; and NGL marine terminals.
- The Crude Oil Pipelines & Services segment operates crude oil pipelines; and crude oil storage and marine terminals, which include a fleet of approximately 200 tractor-trailer tank trucks that are used to transport crude oil.
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?
