Bye, Bye, Bye (MLPs) Revisited: MLP Consolidation Entering Late Innings
Since we last discussed MLP consolidation, significant headway has been made in terms of transaction announcements. We provide an update to the three parts of our series from this summer – who’s...
MLPs and Midstream: Defense Wins in a Tough Oil Tape
Today, we look at MLP and midstream performance relative to crude and other sectors of energy as oil prices have retreated. We also discuss some of the tailwinds working in midstream’s favor and...
Dropdown MLPs: Time to Double (Drop)Down or Fold (In)?
The challenged MLP equity market and the planned consolidation of some dropdown MLPs has called into question the viability of the dropdown model. Do dropdown MLPs still work? Could other dropdown...
Revisiting MLP Performance as Interest Rates Rise
With the 10-year Treasury yield recently touching multi-year highs, it seems like an opportune time to revisit MLP performance as rates rise. We look at how MLPs have performed in rising rate...
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.
Midstream vs. Upstream: A Tale of Two Market Reactions to Rising Capex
In the wake of the oil downturn, capital discipline has come into focus for MLPs and E&Ps. Despite this emphasis, several MLPs and E&Ps raised guidance for 2018 capital expenditures with their 2Q18...