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Peter Staas is managing editor of the Capitalist Times and Energy & Income Advisor. He earned a BA from the State University of New York at Binghamton and co-authored a textbook about real estate valuation models that’s used by federal bank examiners. Peter Staas also served as managing editor of Personal Finance, MLP Profits and The Energy Strategist, where he honed his understanding of global energy markets under the tutelage of investing experts Elliott Gue and Roger Conrad.

Articles

A Tale of Two MLP IPOs

The divergent performance between Noble Midstream Partners LP and Hess Midstream Partners LP since their initial public offerings demonstrates what investors value in an environment where energy prices remain lower for longer.

Permian Basin to Take Market Share in a Short-Cycle World

Break-even rates continue to fall across the board in US shale plays, but the efficiency gains that come from exploiting multiple oil-bearing formations with the same infrastructure give the Permian Basin an edge in the battle for market share.

US Shale: Pump Up The Volumes

Every earnings season, we pay particularly close attention to commentary from the major oil-field service companies—Schlumberger (NYSE: SLB), Halliburton (NYSE: HAL), Baker Hughes (NYSE: BHI) and Weatherford International (NYSE: WFT)—because their extensive operations give them insights into key trends throughout the energy value chain.

Their conference calls also occur relatively early each earnings season; the read-throughs gleaned from the proceedings can provide insight into emerging opportunities and potential pitfalls.

Although we continue to pore over first-quarter results from the energy patch, comments from management teams in the upstream and oil-field-services industries underscore the potential for further efficiency and productivity gains in US shale plays.

Given the short development times needed to exploit these resources, drilling and completion activity in the US onshore market will continue to track oil price realizations and producers’ ability to hedge future output. These fluctuations will create investment opportunities in cyclical names, but timing will be crucial.

Our outlook for oil prices to remain lower for longer and the best US shale plays to take market share favors an overweight position in midstream master limited partnerships, especially those with the best-positioned assets, capable management teams and healthy balance sheets.

Focus On The Permania

The latest additions to the Energy & Income Advisor Focus List have lagged of late, primarily because of the selloff in West Texas Intermediate crude oil. In light of these recent market moves, we we revisit our outlook and investment strategy.

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    Elliott and Roger on Oct. 30, 2017

  • Portfolios & Ratings

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      Balanced portfolios of energy stocks for aggressive and conservative investors.

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      Our take on more than 50 energy-related equities, from upstream to downstream and everything in between.

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      Our assessment of every energy-related master limited partnership.

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      Roger Conrad’s coverage of more than 70 dividend-paying energy names.

    Experts

    • Roger S. Conrad

      Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor

    • Elliott H. Gue

      Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor

    • Peter Staas

      Managing Editor: Capitalist Times and Energy & Income Advisor