Energy Returns are Rising, and the Best is Yet to Come
By Roger S. ConradIssue No.199 . Oct. 18, 2021
Last week, North American benchmark crude oil prices hit their highest level since October 2014. And while natural gas has backed off from this month’s peak, the fuel continues to trade a stone’s throw away from its highest price since mid-2008.
These higher commodity prices are the inevitable consequence of years of underinvestment in oil and gas production and infrastructure, which in hindsight really stretch back to when oil traded comfortably over $100 a barrel in mid-2014. Nonetheless, we still expect energy companies to hold the line on spending when they update their guidance over the next few weeks.
Energy Commentary >>
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What Kinder’s Q3 Says About Midstream’s High Yields
By Roger S. Conrad on Oct. 21, 2021
Despite some setbacks, Kinder Morgan Inc. (NYSE: KMI) has adapted to where we are right now in the energy price cycle. But effective participation still requires discipline.
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Midstream M&A’s Train Picks Up Steam
By Roger S. Conrad on Jun. 4, 2021
Too many small owners lacking critical scale and unprecedented roadblocks to new energy pipeline infrastructure: That’s what was at the core of the unprecedented wave of US oil and gas midstream dividend cuts and bankruptcies of the past few years. Now those same forces are spawning something considerably more positive for investors
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Colonial Goes Down: What it Means for Pipeline Politics
By Roger S. Conrad on May. 14, 2021
There may come a day when US transportation is 100 percent electrified and homes are heated with blended hydrogen. But in the here and now, oil and gas pipelines are essential infrastructure. Exhibit A is the havoc wreaked by the successful hack of systems at the Colonial Pipeline this month.
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Kinder Morgan’s Benefits to Continue Flowing
By Roger S. Conrad on Apr. 23, 2021
Even without a repeat of the company’s Q1 windfall, the benefits to Kinder Morgan Inc.’s (NYSE: KMI) underlying business and balance sheet are likely to continue flowing throughout the rest of 2021 and beyond.
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Pioneer Natural Resources Acquires DoublePoint
By Elliott H. Gue on Apr. 7, 2021
Shale exploration and production (E&P) giant, Pioneer Natural Resources (NYSE: PXD) announced a deal to acquire privately-held DoublePoint Energy, but the reception on Wall Street has been less than enthusiastic.
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Feature: Variable Dividends on the Rise
By Roger S. Conrad on Oct. 18, 2021
Commodity prices are volatile. That means earnings and cash flows of oil and gas producers are as well, including super majors with balance sheets stronger than those of many sovereign nations and high quality operations up and down the energy value chain.
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Endangered Dividends List
By Roger S. Conrad on Oct. 18, 2021
Dividend risk of all companies currently on our Endangered Dividends List.
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Portfolio: What We’re Expecting from Q3 Results
By Elliott H. Gue on Oct. 18, 2021
What we’re expecting in Q3 earnings for all of the companies in our Model Portfolio and on the High Yield Energy List.
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A New Energy Supercycle
By Elliott H. Gue on Oct. 1, 2021
Earlier this month, the Petrol Retailers Association (PRA), an organization representing almost 70% of gasoline stations in the United Kingdom, reported that two-thirds of the nation’s stations were out of petrol (called gasoline on this side of the Atlantic).
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Endangered Dividends List
By Roger S. Conrad on Oct. 1, 2021
There have been no dividend cuts since the previous issue of EIA. There are also no additions to the list in advance of the release of Q3 results, which for our coverage universe should mostly be reported in the next three to five weeks.
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Elliott and Roger on Oct. 28, 2021
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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.
International Coverage
Roger Conrad’s coverage of more than 70 dividend-paying energy names.
Experts
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Elliott H. Gue
Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor
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Roger S. Conrad
Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor