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EX - 99.1 2 tm2123988d1_ex99-1.htm EXHIBIT 99.1 FOR IMMEDIATE RELEASE August 3 , 2021 ENLINK >> MIDSTREAM Exhibit 99.1 Investor Relations : Brian Brungardt , Director of Investor Relations , 214-721-9353 , brian.brungardt@enlink.com Media Relations : Jill McMillan , Vice President of Strategic Relations & Public Affairs , 214-721-9271 , jill.mcmillan@enlink.com EnLink Midstream Reports Second Quarter 2021 , Expects 2021 Adjusted EBITDA in the Upper End of June Guidance DALLAS , August 3 , 2021 — EnLink Midstream , LLC ( NYSE : ENLC ) ( EnLink ) reported financial results for the second quarter of 2021 . Highlights • • • • • • • • • Reported net income of $ 9.4 million , net cash provided by operating activities of $ 176.4 million , and adjusted EBITDA , net to EnLink , of $ 257.5 million for the second quarter of 2021 , driven by strong producer activity and continued focus on efficiencies . Grew adjusted EBITDA 6.5 % compared to the second quarter of 2020 , after excluding the impact of now expired 2020 minimum volume commitments ( MVC ) . Continued to focus on operating efficiencies leading to approximately flat operating and G & A expenses in the first half of 2021 compared to the second half of 2020 , net of Project War Horse and Winter Storm Uri impacts , while in a growth and inflationary environment . Experienced increased producer activity during the quarter in EnLink's Permian and Oklahoma segments as operators responded to the strengthened commodity price environment . Formed the previously announced EnLink Carbon Solutions Group to develop carbon solutions service offerings built on EnLink's extensive footprint and longstanding customer relationships in Louisiana . Continued to generate positive segment cash flow in all four business segments during the second quarter of 2021 . Delivered $ 71.5 million of free cash flow after distributions ( FCFAD ) for the second quarter of 2021 as a result of strong operational results and timing of capex . On a trailing 12 - month basis as of June 30 , 2021 , EnLink has generated $ 359.4 million in total FCFAD . Exited the quarter with leverage at 4.1x as EnLink approaches its near - term target of less than 4x . EnLink will continue to de - lever while pursuing a more balanced approach for uses of FCFAD as it nears its near - term leverage goal . Paid down $ 100 million of December 2021 term loan during the second quarter of 2021 . Repurchased $ 10 million of common units in June and July 2021 . " EnLink delivered another solid quarter of operating and financial results as we continue to make progress on our strategic plan , " said Barry E. Davis , EnLink Chairman and CEO . " With the tremendous execution by our team , continued momentum in producer activity on our footprint , and strong commodity prices , we expect to end 2021 in the upper end of our previously updated adjusted EBITDA guidance range of $ 1.02 to $ 1.06 billion , which was itself a 7 % increase over our original full - year 2021 guidance at the midpoint . 1