Latest analysis
Updated Aug 7, 2026
Enterprise Products expands Permian processing capacity with $1B credit facility boost amid elevated commodity volatility
Enterprise Products announced four new natural gas processing trains in the Permian Basin (Athena 2, Midland Basin Plant 11, Delaware Basin Plants 12 and 13), supported by long-term acreage dedications and minimum volume commitments, with completion dates spanning Q4 2027 through Q1 2029. Concurrent with these production-growth initiatives, the partnership secured an additional $1.0 billion revolving credit facility in July 2026, raising total borrowing capacity to $5.2 billion to manage working capital amid commodity price volatility. Crude oil pricing surged 45% quarter-to-quarter (WTI $63.87/bbl Q2 2025 to $92.71/bbl Q2 2026), while natural gas weakened 16% period-to-period ($3.43/MMBtu 2025 average to $3.98/2026 average), creating a mixed feedstock-cost backdrop for the Partnership's integrated midstream value chain.
Tone: bullishRevenue
$52.6B
EPD 10-K · FY 2025
Revenue FY2024
$56.2B
Founded
1998
Headquarters
Houston, TX
Profile
EPD 10-K Item 1 · Feb 27, 2026Enterprise Products Partners L.P. is a publicly traded Delaware limited partnership and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, petrochemicals and refined products. The partnership operates a fully integrated midstream energy asset network linking major U.S., Canadian and Gulf of Mexico supply basins with domestic consumers and international markets. All business operations are conducted through its indirect subsidiary Enterprise Products Operating LLC.
Read filing description ↓ Collapse description ↑
We are a publicly traded Delaware limited partnership, the common units of which are listed on the New York Stock Exchange under the ticker symbol 'EPD.' Our preferred units are not publicly traded. We were formed in April 1998 to own and operate certain natural gas liquids related businesses of EPCO and are a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, petrochemicals and refined products. We are owned by our limited partners (preferred and common unitholders) from an economic perspective. Enterprise GP, which owns a non-economic general partner interest in us, manages our Partnership. We conduct substantially all of our business operations through EPO and its consolidated subsidiaries. Our fully integrated, midstream energy asset network (or 'value chain') links producers of natural gas, NGLs and crude oil from some of the largest supply basins in the U.S., Canada and the Gulf of Mexico with domestic consumers and international markets. Our midstream energy operations include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage, and marine terminals (including those used to export liquefied petroleum gases and ethane); crude oil gathering, transportation, storage, and marine terminals; propylene production facilities (including propane dehydrogenation facilities), butane isomerization, octane enhancement, isobutane dehydrogenation and high purity isobutylene production facilities; petrochemical and refined products transportation, storage, and marine terminals (including those used to export ethylene and polymer grade propylene); and a marine transportation business that operates on key U.S. inland and intracoastal waterway systems.
Primary products
- natural gas gathering, treating, processing, transportation and storage
- NGL transportation, fractionation, storage, and marine terminals
- liquefied petroleum gases (LPG) export
- ethane export
- crude oil gathering, transportation, storage, and marine terminals
- propylene production facilities
End markets
Geographies
“We are a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, petrochemicals and refined products.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues declined from $56,219 million in 2024 to $52,596 million in 2025, driven by lower third-party revenues.
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