Legacy Reserves (LGCY), the upstream MLP involved in crude oil, natural gas, and NGLs (natural gas liquids) exploration and production, was the top MLP gainer in the week ending March 23. Legacy Reserves rose 11.8% last week. The company’s strong gains last week could be attributed to a sharp increase in crude oil prices. Overall, Legacy Reserves has risen 177.6% since the beginning of 2018. Read Legacy Reserves Has Risen Over 140% in 2018: Can It Rise Further? to learn more.
Mineral interest MLPs
Viper Energy Partners (VNOM), a royalty and mineral interest owner MLP, was the second-highest MLP gainer last week. Viper Energy Partners rallied 6.5%. Similar to Legacy Reserves, Viper Energy Partners’ gain last week could be attributed to a rise in crude oil prices. The partnership has risen 3.6% in 2018 year-to-date. Viper Energy Partners is one of the MLPs that could be the best performer in 2018. Read What Makes Viper Energy Partners among Top MLP Picks for 2018? to learn more.
Dorchester Minerals (DMLP), another mineral interest owner MLP, was the third-highest MLP gainer last week. Dorchester Minerals rose 1.5%.
Other top MLP gainers
Next, we’ll discuss the MLP rating updates last week.