Shell Midstream, 특수 상황

214 Views14 Feb 2022 02:40
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요약
  • Shell owns 68.5% of Shell Midstream (SHLX) and wants to buy out the rest for $12.89. This is obviously too low as it would imply a 2022 FCF yield of 14.2%.
  • SHLX owns pipelines in places where no new pipelines will be built. A significant portion of their assets carry oil out of the Gulf of Mexico, which will see increased production this year.
  • These are for the most part monopoly like assets on long term take or pay contracts that adjust for inflation
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  • Shell midstream, special situation
    14 Feb 2022
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