Energy Transfer Benefits from Record U.S. Oil, Gas Production
SUGAR LAND--February 22, 2019--Researched by Industrial Info Resources (Sugar Land, Texas)--Like other midstream companies, Energy Transfer LP (NYSE:ET) (Dallas, Texas) is benefitting from record production of oil, natural gas and natural gas liquids (NGLs) in the U.S. After the merger of Energy Transfer Partners and Energy Transfer Equity in October, the new Energy Transfer reported full-year 2018 net income of $1.69 billion, compared with $954 million in 2017. During the year, the company completed several growth projects and is progressing with several more. In the company's fourth-quarter 2018 earnings conference call, Chief Financial Officer Tom Long said Energy Transfer expects to invest approximately $5 billion on organic growth projects in 2019.
