Barry Davis joined us on April 21st to share his views on the MLP sector and management and business philosophies developed over decades as an entrepreneur in the oil and gas business. Barry founded Enlink’s predecessor Crosstex in 1996 and led the company’s IPO in 2002. In March 2014, Crosstex closed on a transaction combining all of Devon Energy’s midstream assets, leading to the formation of EnLink and creating a large scale, diversified gathering and processing (G&P) platform with investment grade financial strength. Chief among the lessons learned Barry shared with us is that people and the culture they create are paramount to long run success. Mr. Davis is also a believer in the durability and efficiency of the MLP structure as the path to superior investment outcomes. That view should not be taken to mean the MLP structure is the right answer regardless of the asset foundation or risk profile. The most successful publicly-traded G&P-oriented MLPs should possess scale-advantaged options across a variety of key basins/plays and the stability of contract-based revenues driving the majority of their distribution coverage and growth.
Aaron Blomquist, Barry Davis
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