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How EnLink Benefits from Devon’s Strong STACK Production Growth

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Nov. 2 2016, Updated 3:04 p.m. ET

Devon Energy’s STACK production growth

EnLink Midstream Partners’ (ENLK) sponsor, Devon Energy (DVN), increased its production in the STACK (Sooner Trend Anadarko Basin Canadian and Kingfisher Counties) region by 31.0% YoY (year-over-year) in 3Q16 compared to 3Q15.

EnLink Midstream LLC (ENLC) saw a rise of 33.0% in throughput volume from its STACK acreage in 3Q16 compared to 2Q16, and an 87.0% rise compared to 1Q16.

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Rig count

Rig count in EnLink Midstream Partners’ dedicated acreage in the STACK and SCOOP plays rose from 7.0 in August 2016 to 11.0 by the end of October 2016. ENLK expected the rig count to be 10.0–12.0 by the end of 2016.

The company noted in its 3Q16 earnings release, “The Partnership plans to spend approximately $300 million to $320 million of total growth capital in the STACK and SCOOP basins during 2016.”

According to Barry E. Davis, ENLK’s CEO (chief executive officer), “Our outlook for Central Oklahoma has us considering the next 200 MMcf/d plant, and if present trends continue, production forecasts could support yet another follow-on 200 MMcf/d plant during the next two to three years.” One MMcf/d is equivalent to 1.0 million cubic feet per day.

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