Enterprise Continues to Invest in the Permian to Support Natural Gas Liquids Growth

Enterprise's asset and geographical diversity allow it to pursue growth in virtually any environment. In the current spending environment, the pivot is toward petrochemicals. It can aggregate supply of every type of hydrocarbon from multiple sources in major producing basins and deliver it to multiple end markets (refiners, petrochemicals, exports). Its robust marketing operations let it clip transaction-fee-like earnings during volatile oil and gas markets, like we saw with winter storm Uri in 2021. With the current extreme volatility in 2022 across the oil, gas, and natural gas liquids markets, we expect the marketing unit to do well.