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.

Management Stumbles; Getting Less From Our Power Sources

SL Advisors Talks Markets
SL Advisors Talks Markets
Management Stumbles; Getting Less From Our Power Sources
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Midstream earnings have been reported for the most part and generally came in at or close to expectations. Cheniere once again surprised to the upside, with 2Q EBITDA of $1.86BN versus market expectations of $1.62BN. They modestly increased full year guidance, carried out planned maintenance on their Sabine Pass facility on schedule and for the […]

Rallying Crude

SL Advisors Talks Markets
SL Advisors Talks Markets
Rallying Crude
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It doesn’t look like a bull market, but July was crude’s best month in more than a year with the Brent benchmark closing up almost $11 per barrel at over $84. After peaking in spring of last year following Russia’s invasion of Ukraine, crude oil has been sliding irregularly lower. Russia has found ways to […]

Jay Powell’s Victory Lap

SL Advisors Talks Markets
SL Advisors Talks Markets
Jay Powell’s Victory Lap
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Criticizing the Fed is a self-indulgence afforded the rest of us unburdened with the need to actually set monetary policy. The FOMC usually provides a target-rich environment. The last couple of years have offered a sumptuous feast of mis-steps.  Start with synchronization of accommodative monetary policy with Biden’s uber-stimulus following his inauguration in early 2021. […]

Oneok-Magellan Outcome Too Close To Call

SL Advisors Talks Markets
SL Advisors Talks Markets
Oneok-Magellan Outcome Too Close To Call
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The market currently assigns barely 50/50 odds of the Oneok-Magellan (OKE-MMP) merger receiving shareholder approval from both companies. When the deal was announced in May approval was judged to be highly likely, but it soon receded as analysts offered only lukewarm approval. We offered our view (see Oneok Does A Deal Nobody Needs) within a […]

LNG Growth Faces Few Headwinds

SL Advisors Talks Markets
SL Advisors Talks Markets
LNG Growth Faces Few Headwinds
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Exxon Mobil (XOM) is not typically associated with Liquefied Natural Gas (LNG) but they are planning to double the volumes they handle by 2030, to 40 million tonnes pa. This would be equivalent to around 5.3 Billion Cubic Feet per Day (BCF/D). The US currently exports around 12 BCF/D although that will grow as new […]