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...
Midstream Energy Battle: What Subgroup Has Performed Best in 2019?
In a challenging macro environment for the energy space, the broad midstream universe has performed defensively this year. Today, we review midstream’s performance to date and analyze some of the...
Keeping It Simple: MLPs Continue to Eliminate IDRs
Although IDRs were once a staple of the MLP space, the majority of AMZ constituents have eliminated their IDRs in recent years. Today’s piece discusses recent developments in the trend of IDR buyouts...
3Q19 Distribution Recap: MLPs Pull Off the Clean Sweep
Summary // For the first time in over a year, no AMZ or AMZI constituent cut their distribution sequentially. The majority of AMZ and AMZI constituents grew their 3Q19 distributions on a...
First Steps: Introducing ESG Issues in Midstream
Summary // With ESG gaining traction broadly among the investment community, discussions around ESG have also become more prevalent in the midstream space. The growing investor interest in ESG is an...
Take Me Away: What New Permian Pipeline Capacity Means for Crude Prices and Exports
Summary Two major Permian pipeline projects began service in August, helping to ease the basin’s takeaway constraints and providing further sources of stable cash flows for midstream companies....