EnLink Midstream, LLC: Update to credit analysis following distribution cut
EnLink Midstream, LLC is a diversified gatherer & processor with mostly fee-based revenues, but still exposed to considerable volume risk in some of its assets.Enlink Midstream is a holding company. The company's assets consist of equity interests in EnLink Midstream Partners, LP (ENLK). ENLK primarily focuses on providing midstream energy services, including: gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, in addition to brine disposal services. The company's midstream energy asset network includes, among others, natural gas processing plants, fractionators, barge and rail terminals, product storage facilities, and brine disposal wells.
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