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Trends in Enterprise Products Partners’ Volumes

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Nov. 20 2020, Updated 10:51 a.m. ET

Higher volumes

Enterprise Products Partners (EPD) reported its second-quarter results on August 1. Excluding the impact of non-cash mark-to-market losses on financial instruments, all four of the company’s segments reported higher earnings for the quarter. The earnings growth was driven by higher volumes across the segments.

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Pipeline volumes

As the above graph shows, Enterprise Products Partners’ NGL (natural gas liquids), crude oil, refined products, and petrochemical pipeline volumes rose to 6.2 MMbpd (million barrels per day) in the second quarter from 5.4 MMbpd in the second quarter of 2017. As the graph shows, the volumes rose significantly in the fourth quarter of 2017. Since then, the volumes have stayed at higher levels.

Similarly, the marine terminal volumes rose to 1.7 MMbpd in the fourth quarter of 2017. The volumes have stayed at higher levels.

NGL fractionation and production volumes

The NGL fractionation volumes rose 10% to 927 Mbpd (thousand barrels per day) in the second quarter from 841 Mbpd in the second quarter of 2017. As the above graph shows, the NGL fractionation volumes have remained well below 900 Mbpd since 2015. The NGL production volumes have remained relatively flat for the last few quarters.

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Natural gas pipeline and processing volumes

As the above graph shows, Enterprise Products Partners’ natural gas pipeline volumes have been on an upward trend for the last five quarters. The company’s fee-based natural gas processing volumes have fallen in the last three years—from 4.9 Bcf/d (billion cubic feet per day) in the second quarter of 2015 to 4.6 Bcf/d in the second quarter of 2018.

Growth in pipeline volumes across commodities, marine terminal volumes, and NGL fractionation volumes indicates Enterprise Products Partners’ strong operational performance.

Plains All American Pipeline (PAA) expects its second-quarter earnings to remain flat. To learn more, read Plains All American Pipeline Expects Flat Earnings for Q2. To learn more about Energy Transfer Partners’ (ETP) merger with Energy Transfer Equity (ETE), read Energy Transfer Partners to Merge with ETE: Stock Up 9% Today.

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