EnLink Midstream, LLC (NYSE:ENLC) Q4 2023 Earnings Call Transcript

Dilanka Seimon: Sure. In natural gas storage development, a lot of the CapEx comes in a little bit towards the mid of that timeline. So we don’t have much CapEx in 2024. It’s mainly focused on engineering studies and permitting. Some of the CapEx comes in 2025 and beyond.

Christopher Jeffrey: Got it. And then maybe just another, looking at the maintenance CapEx for the 2024 guide, it looks like a decent step up from 2023, any color there as to what’s driving that?

Ben Lamb: Yes, really a lot of our maintenance CapEx is on maintaining our compression equipment. And that happens on a schedule as machines accrue hours at some point you get to the point where you need to do a minor overhaul and some point you get to where you need to do a major overhaul. So it’s nothing more than a heavier year, particularly in North Texas and Oklahoma on scheduled maintenance.

Operator: Thank you. There are no further questions at this time. I’d like to turn the floor back over to Jesse Arenivas for closing comments.

Jesse Arenivas: Thank you, Alissa, for facilitating our call this morning, and thank everyone for being on the call today and for your support. As always, we appreciate your continued interest and investment in EnLink, and we look forward to updating you with our first quarter results in May. In the meantime, we wish you well. Stay healthy and have a great day.

Operator: This concludes today’s teleconference. [Operator Closing Remarks].