Dirty Little Secrets

Uncover Investment Opportunities in the U.S. Midstream Oil and Gas Sector

This report provides the most comprehensive review of upside and downside risk of the midstream companies that East Daley covers. This report is used by investors, institutional banks, fund managers, private equity, midstream companies and E&Ps to understand how changing energy market dynamics will impact the midstream sector in 2019 and beyond. Pricing for the report starts at $3,000. Please contact East Daley for more details.

Dirty Little Secrets 2019 will cover:

  • Investors are missing a historic opportunity in the midstream sector that is expected to grow more than $10 billion in EBITDA (20%) over the next four years.
  • AMZX and WTI have a strong correlation despite midstream cash flows having a tighter correlation to production growth, which will grow by 5% CAGR over the next four years.
  • That $10 billion in net growth from 2018-2022 is not created equal: companies like ET, EPD and WMB will drive that growth, while others will struggle to manage that $4 billion treadmill in legacy asset declines over that same time period.
  • U.S. crude oil supply is predicted to increase by 1.0 MMbbl/d in 2019, a growth rate similar to 2014 despite a 50% decline in oil prices.
  • A record level of DUC inventories (more than 2,500 wells in the Permian alone) continue to fuel midstream asset growth.
  • Production growth will fuel midstream infrastructure opportunities in new ways, such as water disposal; East Daley estimates that $5.8 billion in CapEx spend will be required to expand produced water disposal capacity through 2022.

This report is made possible by East Daley’s dedicated team of midstream analysts, leveraging the largest database of U.S. energy infrastructure that delivers unprecedented clarity into the vast network of midstream assets.

The purpose of Dirty Little Secrets is to make a very complex sector easily digestible. This report is a must read for the seasoned market veteran and for those who are looking to get into the midstream space. Dirty Little Secrets is a vital tool to help you assess midstream risk, by providing you with non-biased and data-driven analysis made possible from the largest database of U.S. energy infrastructure. At East Daley, we do the “heavy lifting” for you so that you can focus on strategy and execution.

The Dirty Little Secrets package includes:

  • Asset-level earnings forecasts for all companies
  • Distributable cash flow (DCF) and coverage and leverage based on EDC’s EBITDA forecasts
  • Presentation from East Daley to your firm to review the report findings and answer questions

East Daley Capital is an energy asset research firm

that is redefining how markets view risk for midstream energy companies. In addition to using top-level financial data to forecast a company’s performance, East Daley delivers asset-level analysis that provides comprehensive, fact-based intelligence. Supported by a team of unbiased, experienced research analysts, East Daley provides its clients unparalleled insight into how midstream companies operate and generate cash flow. East Daley uses publicly available fundamental data and intersects that data with a company’s reported financials to break midstream companies down to asset-level cash flows. The result allows for more informed decisions.