EnLink Midstream LLC said producer activity climbed late in 2021 amid higher natural gas and oil prices – driving profits – and it expects continued momentum this year.

The Dallas-based storage and transportation firm divides its business into four geographic segments – the Permian Basin, Louisiana, Oklahoma and North Texas – and said results were steady in the latter two while rebounding in the Permian and Louisiana alongside surging oil and gas activity.

Fourth-quarter profit – before taxes and other costs – on storage and delivery of natural gas from the Permian, which straddles Texas and New Mexico, spiked 72% year/year, while oil income in the prolific basin jumped 22%.

[Want to know how global LNG demand impacts North American fundamentals? To find out,...