EnLink Midstream Provides Financial Strategy Update and Further Reduces Distribution and Expenses DALLAS , March 24, 2020 |PRNewswire| -- EnLink Midstream, LLC (NYSE: ENLC ) (EnLink) today announced an update regarding its financial strategy, including a reduction in its quarterly common unit distribution and additional reductions in operating and general and administrative expenses. EnLink's Board of Directors has approved a reduction in its quarterly common unit distribution to $0.09375 per unit, from $0.1875 per unit paid for the fourth quarter of 2019, reflecting a 50% reduction. This reduction results in approximately $185 million of additional cash available to EnLink for fiscal 2020, which it intends to apply towards liquidity preservation and balance sheet management. EnLink continues to identify and implement numerous expense reduction initiatives and is currently targeting $50 million of incremental expense savings across its cost structure during 2020, which is in addition to the expense savings initiated during the fourth quarter of 2019. On March 17, 2020 , EnLink announced a 30% reduction in 2020 total capital expenditures , net to EnLink, which will result in approximately $115 million of incremental 2020 cash flow based on the midpoint of EnLink's latest guidance range.