Legacy Reserves (LGCY), an upstream MLP involved in crude oil, natural gas, and NGLs (natural gas liquids) production, was the worst-performing MLP in the week ending July 6. Legacy Reserves saw its price decline 10.6% last week. The fall could mainly be attributed to weakness in crude oil and natural gas prices. For last week’s update on US upstream producers, read Upstream Losses This Week: LGCY, HK, WTI, SN, and XEC.
Navios Maritime Midstream Partners
Navios Maritime Midstream Partners (NAP), an MLP involved in the marine transportation of crude oil, refined products, and NGLs, was the second-worst performing MLP last week. Navios Maritime Midstream Partners fell 10.1%. Navios Maritime Midstream Partners saw a sharp decline following a merger proposal from Navios Maritime Acquisition (NNA). Overall, Navios Maritime Midstream Partners has lost 64.6% since the beginning of this year. For a recent update on the crude tanker industry, read Analyzing the Crude Tanker Industry in Week 26.
Foresight Energy (FELP), an MLP involved in coal mining and production, was the third-worst performing MLP last week. Foresight Energy ended 6.8% lower last week. Overall, Foresight Energy has lost 6.8% since the beginning of this year.
Other MLPs that struggled
Dorchester Minerals (DMLP), Buckeye Partners (BPL), CSI Compressco (CCLP), Southcross Energy Partners (SXE), Black Stone Minerals (BSM), Blueknight Energy Partners (BEKP), and CVR Refining (CVRR) were among the top ten worst-performing MLP stocks last week.