New From PetroChem Wire . . . .
NGLs Week is PetroChem Wire's comprehensive summary of price trends, upstream and downstream costs, operations news and supply/demand forecasts. The report contains everything you'll need to understand what's happening in the NGL markets.
For more information,
Enterprise Product Partners’s 2Q earnings up 2.3% on increased volumes
HOUSTON, July 28, 2016 (PCW) –- Enterprise Product Partners on Thursday reported second-quarter earnings of $570 million, up 2.3% from the year-earlier period as increased transported volumes offset lower commodity prices.
“Volume growth was primarily driven by the expansion of our LPG marine terminal, the ramp up of contracted volumes on our Aegis and ATEX ethane pipelines, the acquisition of EFS Midstream, as well as higher volumes on the Mid-America, Seminole and TE Products pipeline systems,” said EPD CEO Jim Teague.
EPD’s individual segments earnings is as follows:
Gross operating margin for the NGL Pipelines & Services segment increased 11% to $719 million for 2Q from $651 million in 2Q 2015.
Gross operating margin for the Petrochemical & Refined Products Services segment was $176 million, up from $181 million in 2Q 2015. Total segment pipeline transportation volumes increased 12% percent to 874,000 b/d in 2Q from 777,000 b/d during the same time a year ago.
Gross operating margin from the Crude Oil Pipelines & Services segment was $177 million in 2Q compared to $236 million in 2Q 2015. Total crude oil pipeline transportation volumes were 1.4 million b/d in 2Q, compared to 1.5 million BPD for the same quarter of 2015. Total crude oil marine terminal volumes were 514,000 b/d in 2Q, compared to 591,000 b/d in 2Q 2015.
The Natural Gas Pipelines & Services segment reported gross operating margin of $177 million in the second quarter compared to $191 million in 2Q 2015. Total natural gas transportation volumes were 12.1 TBtu/d for the second quarter compared to 12.5 TBtu/d in the year-ago period. -- Samantha Hartke