MPC - Buckeye Partners: The Pain May Be Over
Units in Buckeye Partners (BPL) have been roughly cut-in-half since BPL announced in 2016 its intent to acquire a 50% equity interest in the holding company of VTTI for $1.15 billion:
Source: Yahoo Finance
At the time, I was a big fan of the acquisition (see: BPL - Earn 7.5% From A New U.S. Based Global Petroleum Importer/Exporter). How could it go wrong with lofty growth expectations for U.S. oil and gas production, and the subsequent exports of O&G and refined products exports? And those production and export expectations have not only been met,