Source: Spring 2020 Investor Presentation
Introduction
It is well known the commodity prices hit rock bottom prices (even negative) in the early stages of the COVID-19 outbreak. I have rehashed in many previous articles that just because O&G prices are low does not mean there are not great investments in the space. Many of which have been midstream O&G companies with long-term contracts and corporate grade credit ratings. Most midstream companies have recovered quite well since early March.
Not to say that there are not midstream O&G companies that are not favorable