Why are there 47 fund products that offer exposure to the universe of about 82 energy-related master limited partnerships? Income-seeking investors love above-average yields, while investment banks and asset management firms love fees.
While much of the mainstream media fixated on the slowdown in natural gas-focused shale plays and the environmental risks of hydraulic fracturing, the upsurge of drilling activity and mergers and acquisitions in the deepwater Gulf of Mexico has received significantly less attention.
Three partnerships have filed S-1 forms with the Securities and Exchange Commission since we last wrote about MLP IPOs.
With the majority of energy-focused master limited partnerships (MLP) having reported quarterly results, we have an opportunity to reflect one of the key trends that emerged from the deluge of financial data: the extent to which the dramatic decline in the price of natural gas liquids reduced firms’ distributable cash flow (DCF) and payout coverage.
In the first installment of this two-part series, we explain why NGL prices will likely remain volatile in coming years. Next week’s issue will focus on the extent to which fluctuations in the price of these commodities will impact the 17 publicly traded partnerships that own natural gas-processing assets.
Northern Tier Energy LP (NYSE: NTI) went public toward the end of July, but the number of prospective MLP IPOs remained at 15 after High-Crush Partners LP (NYSE: HCLP) filed its S-1 statement with the Securities and Exchange Commission.
A US-centric view of energy demand obscures the most significant factors impacting oil and gas prices for the long term.
In the past 12 months, 15 prospective publicly traded partnerships have filed registration statements with the Securities and Exchange Commission. But this structure isn’t for everyone.
What’s driving the sudden surge in downstream MLP IPOs, especially those that own and operate wholesale fuel distribution assets?
Deal flow has picked up for mistream assets in the Marcellus Shale, but acquisitions of upstream properties have stalled because of ultra-depressed natural gas prices.