Friday, July 01, 2016 6:43:21 PM
Drilling will return in ND by lower cost producers, Rig counts will come up a bit as crude oversupply fades and demand brings about a higher level globally.
Two MLP refiners remain:
ALDW with retail 7-11 stores and geographic proximity to well heads in Permian/ Eagle Ford, and CVRR with its two refineries, will have a volume throughput advantage along with storage and piepine assets. Both have MLP structure which has investor appeal, imo. I own both with larger position in ALDW, but added CVRR today.
I like both their chances and healthy payout possibilities through EOY, then I will rethink their winter cycle which is less earnings unless crude goes above 60-70 per barrel, giving a spread on their lower cost storage inventory. Politics and Canadian XL pipeline approval could be another factor, .... GLTA!
"You’ve got to be very careful if you don’t know where you are going because you might not get there."
"The future ain’t what it used to be" "A nickel ain’t worth a dime anymore."
-so long Yogi, we will miss you-
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