Capital Markets Solution

The Capital Markets Solution is a platform tailored to your strategic needs as a midstream sector investor or executive who seeks a comprehensive understanding of the competitive landscape, opportunities, and risks within the space. This package incorporates powerful tools that enable clients to “roll up “ or “drill down” financial data to understand cash-flows by company, asset, basin, or commodity to gain a broader market perspective on the intersection of capital and commodity markets. For our Capital Markets clients, East Daley offers three Subscription Packages:

Full Capital Markets Package
Macro Capital Markets Package
Basin and Investment Opportunity Package
Every Subscription Package includes:
Real-time analyst support
Daily market commentary updates

Weekly in-depth market studies
Bi-monthly market presentations
Unlimited subscriber access

Full Capital
Markets Package

The Full Capital Markets Package is a comprehensive solution that provides financial clients or strategic commodity clients macro- and micro-level data and insights by company to enable competitive analysis, strategic plans, and highlight market opportunities or risks.

This package is designed for each product to work together so clients have the ability to see macro-level trends and navigate into the detail when desired to inform the most critical decisions. The package provides datasets immediately before and after midstream earnings’ calls, providing timely analysis that will drive more timely decision-making.

The Full Capital Markets Package is designed to help clients:

  • Understand which assets are driving growth within which basins at the company level, across all midstream companies under coverage
  • Understand company cash-flow, including the current state and a 5-year forecast
  • Evaluate basin-level, asset-level, system-level dynamics and the impact on micro-level strategies

Currently this package includes five products offered on a company by company basis:

The Company Dashboard provides monthly midstream company data to inform micro-to-macro insights and trends on key factors influencing midstream company performance during the critical periods between earnings’ calls. The dataset provides system-level plant capacity, plant inlet volumes, plant outlet volumes, production and rigs by operator, and a consolidated view that paints a clear picture of a company’s footprint. The Company Dashboard helps identify opportunities and risks ahead of the market on a more frequent basis than provided anywhere else on the market.
Board Reports and Company Financial Models are quarterly reports, models and datasets that provide asset-level financial forecasts for midstream companies, allowing investors and corporate entities the ability to pinpoint risks and opportunities for individual companies. Each company level forecast highlights data by the current quarter and a five-year forecast to provide a macro-level view of the health of the company. East Daley’s models lead the industry in their granularity and precision by being constructed from a micro-level by asset, system and ultimately at a well level. They provide critical quarter-over-quarter changes to assist in making investment decisions, evaluating competitive dynamics at a company level, as well as at the asset and system level.
Roadmaps provide a unique visual and easily digestible quarterly overview of an individual midstream company, including cash flow forecast changes, as well as highlighting quarter-over-quarter changes by segment and assets. They provide an asset-level visual of financial expectations every investor should understand leading up to earnings calls. They identify which commodity is driving earnings and which assets are contributing to earnings’ growth and decline.
Blueprint Summaries aggregate asset-level financial forecasts from individual company Blueprint Financial Models into segment-level and company-level performance forecasts. The quarterly Blueprint summary dataset provides a quick glance into historical, current, and future cash flow which can be easily broken down into individual asset performance. The product includes EBITDA, coverage, leverage, and capex forecasts for every company under East Daley coverage.
The Capital Spend Summary dataset is the only comprehensive quarterly dataset that provides an understanding of midstream capital expenditure by company, basin, asset-type, and commodity to identify which companies are investing in what assets. The Capex summary file rolls up the data included in the quarterly financial models.

Macro Capital
Markets Package

The Macro Capital Package delivers a comprehensive solution driven by East Daley’s underlying industry leading models which provide capital market and strategic commodity clients insight into the high-level themes predicted to impact the future of the midstream sector.

This package includes a summary of the financial performance of midstream companies under coverage showing both historical data and a five-year forecast.

The Macro Capital Markets Package was designed to help clients:

  • Understand future high-level themes and predications for the midstream sector
  • Understand future midstream company cash-flow, current quarter and a five-year forecast
  • Evaluate company-level performance and how that will inform macro-level strategic decisions

Currently this package includes six products:

The Consensus Comparison Report (CCR) is a quarterly report that compares East Daley’s analysis head to head with consensus expectations. This dataset and report summarize forecasts from East Daley’s Company Blueprint Models into one product making it easy to identify where our asset-level EBITDA estimates, aggregated by company, differ from consensus.
The Earnings Scorecard is a self-evaluation on how well East Daley models performed. This analysis includes a quarterly dataset that summarizes data from Post-Call Reports, including financial forecasts as compared to consensus and the themes and trends from quarterly earnings’ calls. The Scorecard provides third-party transparency against market reported numbers to provide a “gut-check” against which companies are performing well and where there are risks.
Midstream Guidance Outlook is an annual report that provides East Daley’s thought leadership and critical perspective on the industry outlook, themes and trends for the coming year with predictions on major impacts to the Midstream sector. Bringing together the commodity markets and capital markets with asset-level financial modeling, The Midstream Guidance Outlook is a pre-cursor to East Daley’s in-depth annual report: Dirty Little Secrets (DLS). DLS provides a comprehensive analysis of the sector including key thematic and asset-level analysis across East Daley’s midstream companies under coverage.
The Risk Matrix is the only report in the industry that standardizes the comparison of midstream companies by commodity, basin, and asset type. This quarterly dataset delivers a consolidated view of every single midstream asset under East Daley coverage. Additionally, the report provides a detailed breakout of company cash-flow performance by asset type, basin, and commodity and includes a five-year view offering insight into the macro-level themes impacting the sector.
The Capital Spend Summary dataset is the only comprehensive quarterly dataset that provides an understanding of midstream capital expenditure by company, basin, asset-type, and commodity to identify which companies are investing in what assets. The Capex summary file rolls up the data included in the quarterly financial models.
East Daley’s FERC Return Calculator takes all the guess work out of understanding which financial metrics The Federal Energy Regulatory Committee (FERC) will use in evaluating rate of return and potential rate case filings for all regulated oil, gas and NGL pipelines across the U.S. This comprehensive file is updated on an as-needed-basis and simplifies all the financial metrics and includes calculation to see return on equity, annualized negotiated, discounted and max tariff rate revenue, pipeline ownership, and pipeline financials converted from FERC accounting to GAAP presentation.

Basin Opportunity
and Investment Package

The Basin Opportunity and Investment Package provides reports and datasets that help financial and commodity clients understand both the commodity and capital market impact at a basin-level.

The Basin Opportunity and Investment package was designed to help clients:

  • Assess investment risks and opportunities for public and provide companies and assets
    • Counterparty risk
    • Constraints
    • Dynamic volumetric forecast
  • Evaluate competitive dynamics in the marketplace
  • Evaluate basin-level dynamics and the impact of micro-level strategies

Currently this package includes two products:

The Production and Constraint Forecast and Basin Blueprints is the only industry report and dataset that provides detailed forecast by producer, system and pipeline, and a unique perspective on how components align or misalign. As a result, this monthly report and granular dataset outlines where there are opportunities and risks across U.S. basins by comprehensively integrating natural gas, NGLs, and crude markets within each distinct basin. East Daley’s asset-level analysis in this product spans across both public and private systems which can be crucial in evaluating competitive dynamics and the impact of basin-level dynamics on corporate strategy.
Production Scenario Tools enable dynamic, monthly scenario analysis for every U.S. basin, capturing historical, current, and future production volumes on a monthly basis. They enable East Daley’s clients to quickly assess a changing market environment by toggling key variables like price, rig count, well completions, IP rates, drill times and more to see the impact to production expectations. To build these models, historical volumes are captured, declines are assigned to legacy production, and the forward strips for oil and gas (depending on the type of basin) are used to forecast future activity and production volumes.

Weekly Reports – Included with Each Package

With each package, clients will receive three in-depth weekly reports, with real-time insights and data. These include:
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Data Insights

Data Insights is a weekly report analyzing relevant energy news and announcements which help identify investment opportunities and risks by presenting public and private data and commentary on relevant industry events. East Daley leverages news coverage and ties it back to data-linked facts, providing a short perspective on micro- and macro-level insights in one report.
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Snapshots

Snapshots are weekly reports that provide an in-depth analysis on timely, relevant topics impacting the midstream industry. Snapshots examine both the commodity and capital markets to provide East Daley’s perspective on key themes and shifting dynamics that could affect Midstream strategies and forecasts.
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Midstream Activity Tracker (MAT)

The Midstream Activity Tracker (MAT) is the only industry analysis that tracks weekly and monthly data by gathering and processing system across every midstream company under coverage. The report and dataset are driven by East Daley’s proprietary G&P Allocation Tool to monitor the risks and opportunities behind individual gathering and processing assets, measuring impacts to basins, individual systems, and midstream companies. Additionally, the weekly and monthly MAT reports provide historical data to help identify trends from changing rig activity across North America.

Package Add-ons