April 17, 2008
Gas-infrastructure Owners Shifting From IPO to A&D
The gas-infrastructure universe of MLPs had a good run, showing significant growth of MLP IPO activity during 2005 and 2006. In July 2007, the group started to lose value, and in 2008, some IPOs were delayed or cancelled.
The sector may not see growth again until the capital and equity markets rebound, according to Frank Murphy, managing director at Wachovia Securities LLC. “Analysts and investors are waiting to see the market recover its liquidity before attempting to estimate the MLP environment going forward,” said Murphy, speaking to attendees at the Midstream Gas Assets A&D Summit held in Houston.
-- Jeannie Stell
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April 16, 2008:
International Energy Buyers Willing to Face Higher Legal Risks Competition for a shrinking pool of global assets is pushing buyers to take more legal risks, says James Cuclis, a Hong Kong-based partner with Vinson & Elkins LLP. Cuclis spoke ...more
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Acquisition options, capital resources for MLPs drying up The continued lack of liquidity in the MLP market has buyers and sellers stymied for choice, according to investment bankers at the recent Midstream Gas Assets A&D Summit in Houston. ...more
April 9, 2008:
Upstream MLPs: Has the pendulum swung too far? During the past two years, upstream master limited partnerships (MLPs) were among the best market performers in the MLP universe, generating total returns (quarterly distributions plus unit-price appreciation) of 37% ...more
April 8, 2008:
CERA: Is high-priced oil the new gold? The new fundamentals—global financial dynamics and new cost structures—are driving the momentum that pushed oil prices to a record high of $111.80 per barrel on March 17. While oil settled ...more
April 7, 2008:
Alberta may have erased any expected royalty-income gains New Alberta royalty legislation was intended to increase Alberta’s annual income by some C$1.8 billion. However, due to its unintended consequence of reduced drilling activity, along with cost escalation, lower ...more
April 4, 2008:
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