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Energy Commentary

The Hammer Falls on Sanchez: Who’s Next?

Eagle Ford, Texas-based midstream company Sanchez Midstream Partners (NYSE: SNMP) eliminated its quarterly distributions this week after the bankruptcy filing of its largest customer and general partner, Sanchez Energy Corp (OTC: SNECQ). The important question for most energy sector investors now is where the hammer will fall next.

Fear Rules But Q2 Earnings Measure Up

Second quarter results and guidance updates are now all in for Actively Managed Portfolio companies. Investors fleeing energy aren’t paying attention to the mostly positive numbers and guidance we’ve highlighted. But they continue to indicate a powerful reversal higher, particularly if oil prices can hold their summer trading range of $50 to $60 a barrel.

Best Bets on Pipeline Politics

In an industry where time equals money, permits for new US oil and especially natural gas pipelines were once basically a formality. But the Federal Energy Regulatory Commission’s lack of quorum in early 2017 led to delays that allowed record fundraising by pipeline opponents and legal challenges to projects on an unprecedented scale.

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