Keith Stanley

What would you say is the biggest opportunity for Enterprise with the situation in the Middle East

Would you have contracted any of the LPG shipments on that since it's only an interim service until you switch to ethane

What types of activities are driving strong NGL marketing in Q4, and and what are your expectations for '26

10% growth would be over a billion dollars of EBITDA growth in just one year. I I was looking back. That'd be the fastest organic growth for the company

is it -- you're primarily transporting NGLs produced at your own plants on your Permian NGL pipelines

I thought you sounded more optimistic than previously on the PDH issues now being behind you

That implies the capital cost could be maybe $1 billion or more for Phase 1 of Neches River. Am I thinking about that right

is it fair to assume the more meaningful recontracting headwinds on margins are now over with at this point

are there any things on the drawing board that could potentially cause 2026 growth CapEx to be materially higher than $2 billion to $2.5 billion

Any color you can give on the impact that Permian gas spreads are having on the business?

just confirm you'd be contributing the whole SFPP pipeline to the JV. I think that's $350 million of EBITDA or so

Would your contracts kick in and you'd have pretty close to a full financial contribution right away

is that solely based on the sanctioned project backlog today

Can you just talk about what you think is possible or doable to increase capacity out of Appalachia on TGP

Is it fair to think your portion of the CapEx is a lot smaller in this project

When would the expansion capacity be in service? And what's the projected time line for the volume ramp to get to returns

could this meaningfully accelerate the time line on some of your larger projects versus original expectations

Are the contracts you have with customers today to bring NGLs to Guernsey or do they go further than that

Are you mainly competing to serve new under-construction facilities or is that redundancy projects

how you're thinking about incremental acquisitions at this point

Q4 EBITDA was about $100 million below the initial quarterly budget

the Bakken volumes were only down 2% to 3% versus Q4, that seemed a lot better than the seasonal guidance that you had pointed to last quarter

do you see it mainly as an opportunity for longer haul volumes on your system out of the Gulf Coast? Or do you think this could create constraints and meaningful new growth investments

bundled NGL rate in the Bakken, it slipped a little to $0.27 in Q4. Was that increased ethane recovery

Would you expect excess free cash flow this year to go to debt repayment? Where do you see leverage ending the year? And when would you expect to get to that 3.5 times target

can you remind us where you are in the process of some of the EnLink volumes transitioning over to ONEOK pipelines

Could that include refiners or other strategics? And are there any discussions going on, on that front that could help commercialize the project?

would you say the midpoint of 2025 EBITDA guidance range is still the base case? And what needs to happen to get there

Can you give a sense of how contracted that capacity is at this point and what you're seeing as far as market pricing for LPG exports right now?

you're pointing to $870 million of synergies and growth uplifts in '26 and then $1.3 billion in '27. So that's over $400 million of year-over-year upside in 2027

Would you say even with Q1 that as of now, you're still tracking to the midpoint of the 2025 EBITDA guidance generally?

Is there a number you can provide for 2026? It sounds like a lot of the projects are coming on of incremental synergies versus this year?

can you give a sense of expected returns on the project or contracts that are in place today

How much of the '26 guidance raise would you attribute to marketing with the wide Permian gas spreads

Do you expect that to still be the case with these 6 plants under construction

I think you said $150 million of upside from marketing last year. What are you assuming on marketing for this year relative to 2025?

How much of the growth outlook there would you attribute to the Delaware just booming versus Targa is taking market share or getting a disproportional amount of the market

Should we think of that as a good run rate from here? Or did you have a lot of unfracked inventory from the maintenance work earlier in the year that boosted Q3

at the exact top end would imply EBITDA is down in Q4 versus Q3? Or are there any headwinds to be aware of?

should we think 2026 CapEx is going to be even lower year-over-year or maybe not given the growth you're seeing

how you're thinking about competition in the Northern Delaware. You were kind of a first mover through Lucid and gas treating

It implies a pretty good pickup in unit margins across the Board. Any color you can give on that

Should we think of that as potentially providing some protection if the macro stays weak and helps to lock in some growth next year

did Blackstone have an option to put the preferred interest back to you at a certain point, or is the timing just you have excess balance sheet capacity

how are you thinking about prioritizing capital allocation at this point, including buybacks, just given kind of the overwhelming growth potential

How are discussions going on trying to lengthen contract duration further? What's achievable

What still needs to happen on Constitution in order to move forward? What's the main gating items there

I want to -- a couple of questions on the 10%-plus growth rate through 2030. Can you say how much of that is coming from your traditional midstream business versus the power business? It looks like...

is that subscribed with Woodside directly just because I think the market perception is that LNG terminal is largely uncontracted

do you think you can keep going at this type of cadence of power projects from a supply chain perspective through 2030

the website says you could provide a gigawatt of power solutions to data centers by 2027, which would be quite fast

Can you talk to the potential size of that investment for that project, timing, and how likely it is to move forward

Do you expect that to be pretty linear over time or lumpy

can you give an update on path to being a full cash taxpayer both with and without bonus depreciation legislation