High Yields and Low Taxes
Master limited partnerships (MLP) offer high yields and significant tax advantages, a compelling proposition in the current low-yield environment.
Profit by Swimming Upstream
Units of upstream MLPs have traditionally offered a higher yield than their midstream counterparts in part because natural production declines require consistent access to the capital markets to fund growth projects and acquisitions.
With MLPs enjoying a record low cost of capital and high-quality assets available on the cheap, this segment of our coverage universe offers some of the best values and upside to savvy investors.
Under Pressure: Profit Margins on North American Hydraulic Fracturing
Avoid North America-focused services names that have outsized exposure to pressure-pumping.
The Picks: Offshore Boom
The upsurge in deepwater exploration and development will continue to pay off for our favorite offshore contract driller and this pure-play on a tightening market for marine seismic services.
The Picks: Oil-Field Services
In the current market, we prefer oil-services firms with superior exposure to rising activity and improving profit margins in international markets.
Riding the Cycle
The end of easy oil is a secular trend that will provide a long-term tailwind for the services industry. However, investors also need to be attuned for short-term downdrafts and updrafts in this cyclical industry as a means of identifying which names are best-positioned to thrive in the current environment.
Start to Profit from the End of Easy Oil
Welcome to the inaugural edition of Energy & Income Advisor, your complete guide to energy investing. We hope you enjoy the new website; we will roll out additional features in the coming weeks, including an absolute-return portfolio and ratings of every publicly traded oil and gas royalty trust.
In this issue, we examine the end of easy oil, one of the key secular tailwinds for the oil-field services sector, and the cyclical trends that are currently driving valuations in the space–namely, the divergent outlook for the North American and international markets.
Going Long: The End of Easy Oil
Although global oil production has yet to reach its zenith, the supply of easy- and inexpensive-to-produce oil has likely peaked. To replace declining production from mature fields and generate growth in output, producers increasingly must ramp up operations in technically complex plays that are much more expensive to develop.
Live Chat with
Elliott and Roger on Nov. 26, 2019
Portfolios & Ratings
Model Portfolios
Balanced portfolios of energy stocks for aggressive and conservative investors.
Producers and Drillers
Our take on more than 50 energy-related equities, from upstream to downstream and everything in between.
MLPs and Midstream
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