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Independent Oil Gas

ENLC, also known as Independence Energy LP, is a master limited partnership (MLP) company that focuses on the acquisition, exploration, development, and production of oil and natural gas properties in the United States. The company's primary assets are located in the Cotton Valley Sands and Haynesville/Bossier Shales in North Louisiana.

When it comes to financials, ENLC has faced some challenges in recent years. In 2019, the company reported a net loss of $1.8 billion, compared to a net loss of $382.5 million in 2018. The loss in 2019 was primarily due to impairment charges of $1.3 billion related to the company's Cotton Valley assets. ENLC's revenue for 2019 was $656.5 million, down from $742.8 million in 2018.

As for earnings, ENLC reported a loss per unit of $3.22 for 2019, compared to a loss per unit of $0.75 in 2018. The company's distributable cash flow (DCF) for 2019 was $76.1 million, down from $178.5 million in 2018. ENLC's DCF coverage ratio for 2019 was 0.6x, down from 1.3x in 2018.

In terms of growth, ENLC's production has been relatively flat in recent years. The company's average daily sales volume for 2019 was 661.1 million cubic feet of natural gas equivalent per day (MMcfe/d), compared to 654.9 MMcfe/d in 2018. ENLC's production is primarily focused on natural gas, with approximately 92% of its sales volume coming from natural gas in 2019.

Overall, ENLC has faced some significant challenges in recent years, including large impairment charges and declining earnings. The company's production has also been relatively flat, and it may face further headwinds in the current low-price environment for oil and natural gas. However, the company may also be able to capitalize on opportunities in the future, particularly if natural gas prices recover.