EPD — what changed in the latest 10-Q
A section-by-section comparison of EPD's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-07 vs the prior 10-Q · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +115 | −69 | ~35 | 101 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~13 | 11 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 4 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 6 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-07
As used in this quarterly report, the phrase “quarter-to-quarter” means the second quarter of 2026 compared to the second quarter of 2025. Likewise, the phrase “period-to-period” means the six months ended June 30, 2026 compared to the six months ended June 30, 2025.
Enterprise to Expand Permian Basin Processing and Mont Belvieu Area NGL Fractionation Capacity
To support ongoing production growth in the Permian Basin, we announced in April 2026 plans to construct a tenth natural gas processing train (“Athena 2”) in the Midland Basin and a twelfth natural gas processing train (“Delaware Basin Plant 12”) in the Delaware Basin and in July 2026 announced plan…
In the Midland Basin, each of these processing trains will have a nameplate natural gas processing capacity of 300 MMcf/d and will be able to extract more than 40 MBPD of NGLs. Athena 2 and Midland Basin Plant 11, which are supported by long-term acreage dedication agreements, are expected to be pla…
In the Delaware Basin, each of these processing trains will have a nameplate natural gas processing capacity of 300 MMcf/d and will be able to extract more than 40 MBPD of NGLs. Delaware Basin Plant 12 and Delaware Basin Plant 13, which are supported by long-term acreage dedication agreements and mi…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
As used in this quarterly report, the phrase “quarter-to-quarter” means the first quarter of 2026 compared to the first quarter of 2025.
The weighted-average indicative market price for NGLs was $0.57 per gallon in the first quarter of 2026 versus $0.67 per gallon in the first quarter of 2025.
Net losses (gains) attributable to asset sales and related matters1 (2)
Revenues from the marketing of NGLs decreased $1.4 billion quarter-to-quarter primarily due to lower average sales prices. Revenues from the marketing of petrochemicals and refined products decreased $727 million quarter-to-quarter primarily due to lower sales volumes, which accounted for a $479 mil…
Revenues from midstream services for the first quarter of 2026 increased $51 million when compared to the first quarter of 2025 primarily due to higher demand for transportation services on our NGL and natural gas transportation assets.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice