Vanguard Natural Resources LLC
Why Gathering and Processing MLPs Outperformed in 1Q17
Gathering and processing MLPs were the best performing MLPs in the first quarter of 2017. The subgroup rose 14.7%.
Linn Energy’s Losing Streak Continued on Friday, July 31
Linn Energy’s (LINE) bloodbath continued on Friday with a single day loss of 15.13% as crude oil continued to fall due to excess supply concerns.
What’s the Long-Term US Natural Gas Price Forecast?
In its March Short-Term Energy Outlook report, the EIA forecast that the US natural gas supply-demand balance could average around 2.9 Bcf per day in 2016.
Which Upstream MLP Could Announce Bankruptcy Next?
Memorial Production Partners’ (MEMP) liquidity position was better compared to its peers. It doesn’t have significant debt maturity until 2018.
What Led to Memorial Production Partners’ Bankruptcy?
MEMP’s earnings improved in the recent quarter, but prior shortfalls were high and couldn’t be covered without a restructuring under Chapter 11 bankruptcy.
Analyst Recommendations: Vanguard Natural Resources the Favorite
The two most recent recommendations are by UBS and Scotia Howard Weil, and they rate LINE “sell” and “sector perform,” with target prices of $2 and $5, respectively.
Why the MLPJ ETF shows tracking error versus its benchmark index
The effect of sampling—the difference in the holdings between MLPJ and its benchmark index—is another cause of the tracking error.
Linn Energy: Top Upstream MLP Loser on Tuesday, August 11
Upstream companies’ earnings are significantly tied to crude oil and natural gas prices. UNG tracks daily movements in natural gas futures. It rose 0.44% yesterday.
Alerian MLP ETF Falls on Negative Investor Sentiments
The Alerian MLP ETF, which comprises 23 midstream energy MLPs, fell 2.4% on October 22, 2015, along with the entire midstream sector.
Eagle Rock Energy Partners: Top Upstream MLP Loser on August 19
Top upstream MLP losers include Eagle Rock Energy Partners (EROC), Vanguard Natural Resources (VNR), LRR Energy (LRE), and Linn Energy (LINE).
Is preferred equity a trend for master limited partnerships?
Recently, two master limited partnerships issued preferred equity, which is a relatively rare avenue of financing for MLPs.
Atlas Pipeline Partners taps preferred equity for over $100 million
Earlier in March, Atlas Pipeline Partners (APL)—a gathering and processing master limited partnership (or MLP)—announced an offering of preferred equity.
A guide to preferred equity and 2 MLPs that recently issued it
Preferred equity (also called “preferred stock”) is a class of security that has features of both common equity and debt. Preferred equity acts like stock.
Vanguard Natural Resources raises $169 million in preferred equity
Earlier in March, Vanguard Natural Resources (VNR) raised money through the issuance of preferred equity. VNR issued 7 million 7.625% cumulative redeemable perpetual preferred units.
Why some companies may “prefer” to issue preferred equity
Companies may prefer to raise money through preferred equity for a few reasons. One possible benefit to issuing preferred equity is to reach a new pocket of investors
Vanguard Natural Resources Can’t Make It, Files for Bankruptcy
Vanguard Natural Resources (VNR) has been suffering from a liquidity crisis and high leverage. On February 2, it filed for relief under Chapter 11 of the United States Bankruptcy Code.
Memorial Production Partners to File Bankruptcy: Key Highlights
Memorial Production Partners (MEMP), an upstream MLP that was suffering from liquidity crisis and high leverage, has filed for bankruptcy protection.
Vanguard Natural Is Soaring on Latest OPEC Output Deal
Vanguard Natural Resources (VNR), an upstream MLP involved in crude oil, natural gas, and NGL production, has gained over 100.0% in recent trading sessions.
WTI-Brent Spread Narrowed, Brent Fell More than WTI Last Week
Brent crude oil’s higher fall compared to WTI in the week ended June 17, 2016, resulted in the narrowing of the WTI-Brent spread.
Where Do VNR, MEMP, EVEP, and LGCY Stand in Terms of Liquidity?
MLPs are going through a liquidity crisis due to a decline in earnings driven by a fall in commodity prices.
WTI-Brent Spread Widened as Brent Rose More than WTI Last Week
A widening WTI-Brent spread tends to hurt upstream MLPs such as Memorial Production Partners (MEMP) and Vanguard Natural Resources (VNR).
Why a 0.3% Rise in Crude Oil Inventories Impacted MLPs
According to data released on March 16, 2016, US crude oil inventories rose 0.3% in the week ending March 11, 2016.
An Overview of EV Energy Partners and Its Recent Activity
EV Energy Partners sold its interests in its midstream assets, including Cardinal Gas Services and Utica East Ohio Midstream. Now, EVEP no longer operates in the midstream segment.
An Overview of Breitburn Energy
Breitburn Energy completed a few acquisitions in late 2014 to boost its total production. In November 2014, the partnership completed its merger with QR Energy.
An Overview of LINN Energy: The Biggest Upstream MLP Loser
During 1Q15, Linn Energy recorded noncash impairment charges of ~$533 million associated with proved oil and natural gas properties.