DTM - DT Midstream to move ahead with Haynesville gas system expansion

DT Midstream ( NYSE: DTM ) said on Wednesday it reached a final investment decision on the Phase 2 expansion of the LEAP natural gas pipeline in Louisiana, which will expand the system to 1.7B cf/day by Q1 2024.

The LEAP pipeline is a 155-mile conduit stretching from the Haynesville shale in northern Louisiana to the Gulf Coast region, with current gathering capacity of 1B cf/day.

DT Midstream ( DTM ) also reported Q2 adjusted earnings of $79M, or $0.80/share, on operating revenues of $4.27B, below $4.77B analyst consensus estimate.

Q2 adjusted EBITDA totaled $205M, and the company reaffirmed full-year guidance for adjusted EBITDA of $770M-$810M.

DT Midstream's ( DTM ) stock price return shows a 12% YTD gain and a 24% increase during the past year .

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