DT Midstream
Firstly, DT Midstream is an owner, operator, and developer of natural gas midstream interstate and intrastate pipelines; besides, it provides storage and gathering systems; also gives compression, treatment, and surface facilities.
Also, the company provides clean, natural gas to gas and electric utilities, power plants, marketers, large industrial customers, and energy producers across the Southern, Northeastern, and Midwestern United States and into Canada.
In addition, it offers a comprehensive, wellhead-to-market array of services, transporting production from world-class, low-cost dry gas formations to growing, high-quality markets.
DT Midstream modern plataform
Firstly, the company has 900 miles of FERC-regulated interstate pipelines with interconnections to multiple interstate pipelines and local distribution companies.
Also, its platform includes 290 miles of lateral pipelines; it also has gas storage assets with a capacity of 94 Bcf; and more than 1,000 miles of gathering pipelines in the premier dry gas basins in the country.
Read more about DT Midstream. Here.
Financial report
The midstream leader delivered 2021 results exceeding the high end of guidance; also it increased 2022 adjusted EBITDA guidance; as well, it provided 2023 adjusted EBITDA early outlook; and reported an increased dividend by 7%.
The organization reported the full year 2021 net income of $307 million. Also informed operating earnings for 2021 were $336 million, or $3.46 per diluted share, and the adjusted EBITDA was $768 million.
David Slater, President, and CEO.
“Our employees delivered a successful spin-off from DTE Energy; expanded our customer base; and continued to make progress on growth projects that have us well-positioned for 2022 and beyond.”
David Slater.
“Most notably, we executed new Haynesville agreements that build upon our strong commercial relationship with Southwestern Energy.” “This first phase expansion of the Haynesville system will utilize electric compression to provide a low carbon ‘wellhead to water’ pathway to the LNG export corridor.”
David Slater, President, and CEO.
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Significant achievements
Next, DT Midstream has the goal to increase 2022 adjusted EBITDA guidance to $770 to $810 million; also, the company has the focus to provide 2023 adjusted EBITDA early outlook which reflects continued organic growth and confidence in the core businesses.
Besides, the leader wants to increase the dividend by 7% to $0.64 per share, to be paid on April 15 to shareholders of record on March 21.
Additionally, the organization informed that approximately 50% of the 5-year (2021-2025) investment plan is committed to organic growth opportunities.
Finally, DT will continue to expand the ESG and energy transition initiatives; also the plans includes executing an agreement with Mitsubishi for hydrogen development projects, and advancing carbon capture and sequestration opportunities
“DT Midstream delivered strong financial results in 2021 while also executing on significant growth investments.” “The company is in a great position to achieve our financial goals in 2022, 2023, and over the long term.”
Jeff Jewell, DT Midstream Executive Vice President, and CFO.
About DT Midstream
Firstly, DT Midstream is an owner, operator, and developer of natural gas interstate and intrastate pipelines, storage and gathering systems, compression, treatment, and surface facilities.
Secondly, the company transports clean, natural gas for utilities, power plants, marketers, large industrial customers, and energy producers across the Southern, Northeastern, and Midwestern United States and Canada.
Besides, the Detroit-based company offers a comprehensive, wellhead-to-market array of services, including natural gas transportation, storage, and gathering.
Finally, DT Midstream is transitioning towards net-zero greenhouse gas emissions by 2050, including a target of achieving 30% of its carbon emissions reduction in the next decade.
Read here for more information about DT Midstream.
