Hinds Howard

infrastructure PM @ CBRE Investment Management. For personal stuff, find me @dadlifting...not investment advice.

[Hinds Howard @MLPguy]

@Vince85623723 So they get DJ basin assets and have independence, but growth outlook for dividend is limited beyond next year

[Hinds Howard @MLPguy]

HESM going to take lower fees in exchange for CVX’s interest in HESM, will be independent

[Faux Me Right? @FauxRight]

Chevron will divest Hess Midstream interests and DJ Basin crude-midstream assets; it estimates a USD 3–4B after-tax special-item loss at closing. via Chevron 8-K https://t.co/0ZbiLoIXze #AFELeaks

[Hinds Howard @MLPguy]

@Vince85623723 It’s ok, better than several worse outcomes that CVX could have pursued to reduce the above market contracts HESM had in Bakken. Could have lowered and extended contract, could have bought in HESM for cheap.

[SuicideBlonde @SuicideBlonde_2]

1/5

Restructuring deal in Midstream land between $HESM and $CVX

$CVX gives up:

a) 77.8 mm shares of $HESM it owns
b) DJ Basin Midstream assets

$CVX gets:

a) Lower fees in the Bakken (~45% discount)
b) $200 mm in cash

For $HESM, the deal is mildly (~3.8%) dilutive

[Hinds Howard @MLPguy]

@SuicideBlonde_2 Wells Fargo saying rates are higher than normal and margins higher for these assets, so 8.5x 2027…not sure if they have to build a plant to get to that multiple

[Hinds Howard @MLPguy]

@NiceQuarterGuys

[Hinds Howard @MLPguy]

@tomjonescp Interest rate spikes, data center headline pushback hurting power demand story into elections, general underperformance of all things non tech. The future is bright for midstream, getting anyone to care is the hard part, although last few years of strong performance has been nice

[Hinds Howard @MLPguy]

🇺🇸🤠

[Hinds Howard @MLPguy]

@REYTX90 Don’t think so

[Hinds Howard @MLPguy]

ENB buying Tallgrass crude business for 10-11x ($2.55bn) and over equitizing with C$2.6bn equity offering at 3.5% discount. Definitely strategic assets, but no specifics on what the multiple could be worked down to over time with synergies…

[Hinds Howard @MLPguy]

Another headline tonight that WES is close to acquiring KNTK, we are doing deals everybody!

[Hinds Howard @MLPguy]

ENB buying Tallgrass crude business for 10-11x ($2.55bn) and over equitizing with C$2.6bn equity offering at 3.5% discount. Definitely strategic assets, but no specifics on what the multiple could be worked down to over time with synergies…

[Hinds Howard @MLPguy]

@SweetBreeze713 Yeah that’s the main asset

[Hinds Howard @MLPguy]

WEEK THOUGHTS: STAYING BUSY… https://t.co/Cry96DcHe2

[Hinds Howard @MLPguy]

TRGP flywheel keeps flying, stock cresting towards $300/share. Price target raises incoming…

[Hinds Howard @MLPguy]

@ExtraWynn He was just really struggling, sounded like he needed a glass of water else he might choke

[Hinds Howard @MLPguy]

Tough to follow Teague when I’m worried he might not make it through the comments #epd

[Hinds Howard @MLPguy]

Odd to be saying this unironically: lucky I’m visiting Houston this weekend where the air quality is so good…

[Hinds Howard @MLPguy]

WEEK THOUGHTS: ENJOY THE PEACE… https://t.co/GQddC3cjik

[Hinds Howard @MLPguy]

Strait talk

[Hinds Howard @MLPguy]

Wacky end of quarter trading as usual…