Midstream: Financials and Regulatory Update

FundamentalEdge August 2020 Edition

This month’s issue of FundamentalEdge explores our current view of the midstream segment. The oil price downturn began with a wave of announcements of planned capex declines from E&P operators. Shut-ins and depleted liquidity followed shortly after. Now, we are seeing the beginning of a tidal wave of bankruptcies.
In this report, Enverus goes beyond the underlying asset economics and breakevens to analyze volumetric, contractual, and even regulatory risks—derived from the Dakota Access Pipeline and Atlantic Coast Pipeline situations—that have changed the landscape for midstream operators.