Crude Spreads Here, There, and Everywhere – What it Means for Midstream
With widened crude spreads across North America, it’s easy to make a case for the need for more pipeline infrastructure. But if crude spreads narrow in places like the Permian as pipelines start up,...
Midstream 3Q18 Preview: Key Topics for Earnings Calls
With energy and midstream earnings season around the corner, we look at key themes that will likely be topics of interest on 3Q18 calls for the midstream space.
MLP Structural Simplifications: Part 2 – IDR Eliminations
In recent years, we’ve seen MLPs move to eliminate IDRs, as several management teams have acknowledged that IDR structures become unsustainable over time. In today’s post, we look at how IDR...
Is the US Over-Piped? Part 1: MLP Re-Contracting Risk
Investors often ask us if the US is over-piped. The question points to both concerns around re-contracting risk and whether there is still an opportunity for growth through pipeline additions. In...
Where’s the Growth? 2018 Distribution Guidance for AMZI Constituents
How many AMZI constituents expect to grow their distribution by 10% or more? How many constituents expect to grow their distribution by 20% or more? What does growth look like on an aggregate basis?
What Happened in October: for MLPs, Money Talks and BS Walks
October was all about MLP cash: who increased distributions, who kept them flat, who didn’t increase as much as expected, and through it all, investor expectations mattered more than numbers.