When Winning Isn’t Everything: Midstream Project Returns and Why They Matter More
The focus on returns is prevalent across the energy sector as investors desire capital discipline and growth backed by solid returns instead of just growth at any cost. Today, we will frame what...
Midstream Credit Ratings: Making the (Investment) Grade
Who is making the (investment) grade in midstream? Today, we look at credit ratings for the broad North American midstream universe as well as the weightings of companies with investment-grade credit...
19 for ’19: Midstream EBITDA Guidance Reflects Strong Outlook
Can an investor have growth and attractive income in one investment? With midstream, the answer is yes based on 2019 EBITDA guidance for nineteen companies. Midstream’s expected growth and how it...
US LNG Exports: The Who, What, Where of Projects and Why China Relations Matter
Today, we revisit US LNG exports. What projects are starting up in 2019-2020? What projects have been green lighted for construction or are nearing the start of construction? What about the impact of...
Let it Flow: Permian Crude Heads for the Coast
With new pipeline capacity coming online in the Permian this year, the logical question is whether the bottleneck will simply move ~500 miles east to the Texas Gulf Coast. Today, we compare Permian...
Midstream and MLPs: BuyBACK in Action
Buybacks have become a more prevalent topic in capital allocation conversations for midstream, reflecting the continued evolution of this space. Today, we look at why and when buybacks make sense, as...