What about MLPs’ Refiner Customers?
With so much focus on the financial health of midstream’s customers that produce oil, it is easy to forget that many MLPs have significant exposure to refiners – and not just those MLPs with refiner...
Look Down(stream): What Midstream Can Learn from Refiners about Free Cash Flow and More
Alerian examines the strategic parallels between refining and midstream and discusses what energy infrastructure companies can learn from their downstream peers in regard to free cash flow and...
MLP Consolidation Part 1: The Nearly Departed
Recent news flow has revived the MLP consolidation conversation, even as anticipated transactions have largely been completed. Which MLPs are going away, and which MLPs are potential consolidation...
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...
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...
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,...