Energy Transfer's crude, NGL transportation volumes hit record in Q3

Crestwood Equity Partners LP

01/11/2023 20:40

By Stephanie Kelly
       NEW YORK, Nov 1 (Reuters) - Midstream company Energy
Transfer  ET.N  reported on Wednesday higher earnings for the
third quarter versus the same time last year, with natural gas
liquids (NGL) and crude transportation volumes hitting a company
record.
    Energy Transfer's adjusted earnings before interest, taxes,
depreciation and amortization in the quarter were $3.54 billion,
compared with $3.09 billion last year, the company said.
    The company expects its full-year 2023 adjusted EBITDA to
range between $13.5 billion and $13.6 billion, and its 2023
growth capital expenditures to be slightly below its previously
announced guidance of $2.0 billion, it said.
    NGL transportation volumes were up 14%, a record for the
company, while crude transportation volumes gained 23%, also a
record, the company said. 
    The company's NGL exports were up more than 20%, another
record.
    During the quarter, Energy Transfer placed into service its
eighth fractionator at its Mont Belvieu, Texas, facility,
bringing the company's total fractionation capacity at Mont
Belvieu to over 1.15 million barrels per day (bpd).
    Also during the quarter, Energy Transfer announced it would
acquire Crestwood Equity Partners  CEQP.N , which owns gathering
and processing assets located in the Williston, Delaware, and
Powder River basins. The transaction is expected to close on
Nov. 3, the earnings release said.

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 (Reporting by Stephanie Kelly; Editing by Lisa Shumaker)
 ((Stephanie.Kelly@thomsonreuters.com; 646-737-4649; Reuters
Messaging: stephanie.kelly.thomsonreuters.com@reuters.net))