Gulfport Files Chapter 11 – Midstream Counterparty Exposure: The Oklahoma City, OK-based independent is active in the Utica in the Northeast and the SCOOP play in the Midcontinent, and its bankruptcy poses recovery risks for midstream names like Intensity Midstream, Summit Midstream (SMLP) and Equitrans (ETRN). ETRN, GPOR, MPLX, SMLP, TRP
I.O.U. – Plains call highlights deficiency payments: Plains All American’s (PAA) recent 3Q2020 results highlight a likely theme for Permian oil egress pipes in the coming years: deficiency payments. NS, PAA
Ovintiv South Texas Sale: Ovintiv (OVV) is rumored to be selling its Eagle Ford acreage, which it bought in 2014, a potential driver for midstream operators. EPD, ET, MPLX, OKE, OVV, PBA
North American Energy Indicators and Equity Prices