EnLink Midstream LLC (ENLC) Q4 2019 Earnings Call Transcript

EnLink Midstream LLC (ENLC) Q4 2019 Earnings Call Transcript

Good morning and welcome to the EnLink Midstream Fourth Quarter 2019 Earnings Conference Call.. I would now like to turn the meeting over to Kate Walsh, Vice President of Investor Relations and Tax.. Participating on the call today are Barry Davis, Chairman and Chief Executive Officer; Alaina Brooks, Executive Vice President and Chief Legal and Administrative Officer; Ben Lamb, Executive Vice President and Chief Operating Officer; and Eric Batchelder, Executive Vice President and Chief Financial Officer.. To accompany today's call, we have posted our fourth quarter and full year 2019 press release and presentation to the Investor Relations section of our website.. Our strong fourth quarter results allowed us to achieve record full year adjusted EBITDA results of $1.08 billion for the year.. Fourth quarter adjusted EBITDA increased by 11% as compared to the third of 2019 with growth driven primarily by the strength of our NGL business.. The fourth quarter represents the seasonal high for our NGL business and with the benefit of our Cajun-Sibon pipeline expansion completed in earlier in 2019, we achieved record NGL throughput on our system during the quarter.. Our growth capital for 2019 was 5% below the low end of our guidance range, and