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Investing Topics: Mergers & Acquisitions

Upstream Takeover Targets

Some of the biggest winners from mergers and acquisitions activity in the US upstream space have been the acquirers. Deal flow will continue to focus on assets and private-equity outfits monetizing their investments. We prefer names with solid balance sheets and exposure to franchise assets with low production costs; these names will continue to take market share, outperform their and grow their inventories of potential drilling locations.

Natural-Gas Pipelines: Pump up the Volumes

The best-positioned natural-gas pipelines have benefited from surging production in the Marcellus Shale as well as growing demand for the thermal fuel among utilities, thanks to ultra-low prices and the retirement of coal-fired power plants. This tailwind looks set to continue in coming years, which helps to explain the accelerating pace of merger and acquisition activity targeting these assets. But not all pipelines are created equal. We highlight some of our favorite midstream operators.

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

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

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      Managing Editor: Capitalist Times and Energy & Income Advisor