Blog
EUROPE’S ENERGY CRISIS IS KEEPING ENERGY PRICES HIGH
America leads the world in oil and gas production. We believe midstream energy infrastructure offers predictable cash flows to investors.
Update From Williams Companies
Yesterday Williams Companies (WMB) provided an investor update on their business. WMB isn’t directly involved in crude oil, and they’re best known for owning Transco, a natural gas pipeline network running down the eastern U.S. So far, natural gas demand is un-impacted, and slightly above historical norms. WMB provided some information on their overall sensitivity […]
Markets Glimpse Light
As our response to Coronavirus shifts from purely medical to political, markets have seen a glimmer of light. So far, decisions have been made, whether right or wrong, based on advice from epidemiologists. But as the economic cost has exploded, it’s provoked the obvious question: if the most vulnerable cohorts are identifiable, and the vast […]
Recapping Another Memorable Week for Energy
None of us will forget the past couple of weeks. Investors and money managers are grappling with collapsing markets, working remotely and the challenges of ever stricter controls on our movement. Below we’ll highlight some information that investors may have missed, combined with what we’ve learned from multiple conversations. Pipeline companies that said anything publicly […]
The Virus Infecting MLPs
Closed end fund investors are passionate about the product. Because they generally own a portfolio of publicly traded securities, their NAV per share is easily calculated. The fixed share count means their share price can deviate from the NAV, and this attracts investors keen to buy something for less than it’s worth. MLP closed end […]
Enbridge Fireside Chat
Earlier today Enbridge (ENB) CEO Al Monaco held a “virtual fireside chat” with an analyst from RBC. ENB, like the other Canadians, is run more conservatively than many U.S. businesses. We’ve often noted that a bit more Canadian management would be beneficial in the U.S. energy sector. The slides below are from the ENB presentation […]