Question · Q4 2025
A.J. O'Donnell first asked about Enterprise Products Partners' strategy for managing its natural gas marketing segment, particularly in late 2026 and 2027, as Waha differentials are expected to narrow, following a strong Q4 2025. He then followed up by requesting more details on the Haynesville Acadian expansion project, including its size and the types of customers (public or private producers) driving it.
Answer
Company Representative Tug Hanley explained that Enterprise manages its natural gas capacity by bundling G&P deals for long-term contracts and monetizing short-term opportunities. Company Representative Natalie Gayden added that Midland contracts benefit from strengthening gas prices and a stronger Waha basis, with new BCF coming online. Natalie Gayden further clarified that the Haynesville Acadian expansion is a gathering system expansion increasing treating and reach, driven by a mix of private and public producers.
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