Alternatives SteelPath commentary on the midstream energy infrastructure industry
Each month, the Invesco SteelPath team provides an update and insight on the most recent midstream industry happenings. Each monthly commentary provides:
- Market performance update
- Recent news
- Chart of the month
Midstream equities had another month of attractive results in April but underperformed the broader markets as the conflict in the Middle East continued to drive volatility.1 In response to the Strait of Hormuz remaining effectively closed, many market participants believe there may be a call on volumes sourced from the United States. While U.S. producers await the call, they continue to demonstrate operational efficiencies, doing more with less. Over the past three years the total footage drilled in the Permian Basin continues to inch higher even as the basin rig count has fallen more than 30% from its early-2023 peak.2
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Compression group refers to companies that own and operate this compression equipment or provide it as a service
The propane subsector refers to midstream companies whose core business is handling propane.
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