Let It Grow - Midstream Companies Revamp Their Strategies to Reflect Changing Times
Update: 2023-11-10
Description
Over the past four years, we’ve documented the strategic transformation of upstream oil and gas producers from growth at all costs to the fiscally conservative concentration on accumulating free cash flow to accelerate shareholder returns. Much like their upstream counterparts, midstream corporations and master limited partnerships (MLPs) have shifted to fiscal conservatism, focusing less on growth and capital investment and more on shareholder returns, acquisitions and debt reduction. In today’s RBN blog, we examine the cash flow allocation of a representative baker’s dozen of midstream companies as they compete for investor support.
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