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CM - EnLink Midstream tightening belt with 50% less capex - January 2020
EnLink Midstream’s planned 2020 growth capex spending of $275-375 billion will be 50% lower than its 2019 spending, as the company looks to cut costs. However, CFO Eric Batchelder said the 2020 number won’t require accessing the capital markets and will be funded with cash flow in excess of distributions. On that note, EnLink cut its 4Q19 distribution to $0.1875 per unit from the prior quarter’s $0.283 in order to increase free cash flow.......
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