Incentive Distribution Rights
Enterprise Products Partners LP: Great Company, Not a Great Stock
Since its initial public offering (IPO) 16 years ago, Enterprise Products Partners LP (NYSE: EPD) has been an outstanding investment. An investor who bought the stock at the close of the master limited partnership’s (MLP)...
Memorial Resource Development Corp: Half a General Partner
Memorial Resource Development Corp (NSDQ: MRD) is an exploration and production company that controls about 205,000 net acres that are prospective for hydrocarbons and contain an estimated 1,126 billion cubic feet of natural-gas equivalent in proven...
Enbridge Energy Partners LP Gets a Little Help from Its Friend
Like the Schedule K-1s that befuddles many investors at tax time, incentive distribution rights (IDR) are a subject that investor relations employees are likely tired of discussing. Although the K-1 is more complicated than the...
General Appeal
The master limited partnership (MLP) structure often comprises two entities: a limited partnership that owns the underlying assets and a general partner (GP) that’s responsible for managing the operating entity. In addition to a minority...
The Lowdown on MLP IDRs: Incentive or Impediment?
Master limited partnerships (MLP) usually comprise two entities: an operating limited partnership (LP) and a general partner (GP) that usually owns a 2 percent stake in the LP and receives compensation for managing the operating...
TRENDING TOPICS
Sell Occidental, Buy Permian Resources
Last year, the value trade in energy was natural gas. NYMEX natural gas prices averaged around $2.27/MMBtu and front-month gas prices dipped well below $2.00...
Early Energy Q1 Returns: Shale Discipline in Force
Four Energy and Income Advisor Model Portfolio companies have now released Q1 results and updated guidance: Services companies Baker Hughes (NYSE; BKR) and SLB Ltd...
Earnings and Partners/XPLR Strategic Review
Annual filings are far more detailed than quarterlies. The trade-off for investors is they take longer to compile. Nonetheless, there’s already been plenty of action—as...
Oil: The Imaginary Glut
Last week, crude oil prices broke from a tight trading range to the highest levels in about three months. In my view, there’s more upside...