FANG - Rattler Midstream: An Unfairly Beaten Up MLP With A 17% Yield

• Rattler Midstream was set up by Diamondback Energy to develop the midstream infrastructure in the Permian basin.
• The company's main operations are operating gathering pipelines to Diamondback's wells.
• Diamondback has historically delivered very strong growth, and Rattler has been able to benefit from this through increased volumes.
• Rattler is unlikely to impacted much from the weakness in oil prices and should be able to generate about $83 million in FCF this year.
• The company has one of the strongest balance sheets in the industry and should be able to maintain its 17%+ yield going forward.

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