Midstream Metamorphosis: Does Your MLP ETF or ETN Truly Represent Midstream? The Critical Problem with MLP-only ETFs and ETNs…
Summary: Investors who own Master Limited Partnership (MLP) dedicated index exchange traded products are facing a critical problem, and they may not even know it. Since 2014, the number of midstream companies structured as MLPs has slowly and steadily decreased....
Geo-Political Risk on the Rise: Coordinated Drone Attack on Saudi Production Facilities Disrupts Key Oil Supply Source
On Saturday, September 14th, coordinated drone strikes on critical Saudi Arabian oil production facilities knocked out nearly 60% of the country’s oil production capability, nearly 20% of the natural gas production, and approximately 50% of ethane and NGL production....
Oil Tightness Obscured
We believe supply-driven tightness in crude has been masked by investor macro concerns relating to demand, as well as the recent weather-impacted rise in US oil inventories. In our view, the magnitude of these supply factors more than offsets potential demand slippage...
Consolidation: The Time is Now
Today, Chevron (NYSE: CVX) announced they plan to acquire Anadarko Petroleum (NYSE: APC). We saw many corporate deals struck last year (Concho/RSP Permian, Diamondback/Energen, Encana/Newfield, etc.) and have expected sector consolidation to continue in 2019 as oil...