Enterprise Products Partners raised its 2027 growth capital expenditure outlook to approximately $3 billion, up from a prior range of $2 billion to $2.5 billion, with co-CEO W. Fowler noting that over 80% of that spending is already committed. The company reported record second-quarter EBITDA of $2.8 billion and record adjusted cash flow from operations of $2.5 billion, driven by strong global demand for U.S. energy that was particularly robust in April and May. Enterprise also announced the approval of new Permian processing plants, including Plant 13 in the Delaware Basin expected in the third quarter of 2028 and Plant 11 in the Midland Basin expected in the first quarter of 2029, along with Frac 15 at Mont Belvieu expected in the first quarter of 2028. Despite the higher capex, management believes discretionary free cash flow for 2026 could still approach $1 billion. The partnership repurchased $159 million of units in the quarter and increased its distribution to $0.56 per common unit.
Enterprise Products Partners LPRaises 2027 capex outlook, reports record EBITDA and cash flow, and increases distribution.