67 WALL STREET, New York - July 3, 2014 - The Wall Street Transcript has just published its Oil & Gas Review 2014 Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Oil & Gas Review 2014
Companies include: Marlin Midstream Partners, LP (FISH) and many more.
In the following excerpt from the Oil & Gas Review 2014 Report, the CFO of Marlin Midstream Partners, LP (FISH) discusses company strategy and the outlook for this vital industry:
TWST: How do you feel the company's IPO was received by the investment community?
Ms. Bush: We thought it was very well-received. As a matter of fact, we set out to raise $125 million through our initial public offering; we were oversold and ultimately ended up raising the offering to over $137 million, which enabled us to pay off nearly all of our debt, which was our target and the reason we IPO-ed.
We have excellent support from our retail unit base. We heavily targeted a retail investor audience to be in our stock, and that's mostly because we like sticky unitholders, and we like to have that sort of partnership with our unitholders to grow with us. We also enjoy large institutional investors that we see growing every quarter. We have six analysts following us today, and we're also very pleased to announce yesterday that we were able to raise our distribution by 1.4% for the first quarter. That was our first growth-oriented announcement.
TWST: Tell us about your customer base.
Ms. Bush: On the midstream side, we have a very broad cross section of the natural-gas-producing community. The suppliers include very small and some large exploration and production companies, and some large pipeline companies. Some names you might recognize are Anadarko, Kinder Morgan and Energy Transfer, and then we have an affiliate relationship with AES as well. That's the midstream gas side.
On our crude side, we enjoy a partnership exclusively with our affiliate Associated Energy Services, which currently contracts for about 100% of the operational capacity at our sites, and we continue to see that relationship growing in the future. All of our gross margin across both of our segments of business is generated under fee-based contracts with our customers, the majority of which have minimum volume commitments and annual inflation adjustments. That allows us to reduce the commodity exposure.
TWST: What trends are you seeing among your customers that might be affecting your business?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.