We continued to realize the benefits of our midstream investments in 2014. Enable Midstream Partners performed well in their first full year of operations and delivered financial results in line with our expectations. As a result, CenterPoint Energy received $308 million in equity income. Despite a commodity price downturn in the second half of the year, we remain confident in the long-term success of this business.
Enable Midstream has high-quality assets, an investment grade balance sheet, experienced management and deep customer relationships. The company operates in four of the country’s most prolific natural gas and crude oil producing basins. This includes the Bakken formation in North Dakota and the Anadarko basin in the Texas Panhandle and western Oklahoma. This blend allows Enable Midstream to capitalize on both dry- and wet-gas opportunities.
Further strengthening Enable Midstream’s position is its high percentage of fixed-fee contracts. Approximately 72 percent of Enable Midstream’s income is fee based, reducing direct exposure to commodity price fluctuations. Last year, the company secured additional commitments from some of the largest producers operating in a recently discovered oil field in the Anadarko basin. Growth plans include building a second crude processing system in the Bakken to capitalize on the company’s knowledge and experience in that area.
With its diverse mix of assets that include gathering systems, processing plants, storage facilities and pipelines, we believe that Enable Midstream has the scale to compete in an increasingly competitive sector.