Altus Midstream (NASDAQ: ALTM) has spent the past year quietly building a large-scale midstream business to support the flow of oil and gas out of the Permian Basin. The energy company has been constructing pipelines and processing plants to gather oil and gas from newly drilled wells in the Alpine High portion of the Permian. It has also participated in funding the construction of several long-haul pipelines that will ship oil, natural gas, and natural gas liquids (NGLs) out of that region to market centers along the Gulf Coast.
Those investments have the company on track to generate high-octane earnings growth over the next two years. Add that upside to the fact that the company's stock has tumbled this year, and shares could skyrocket in 2020 as its expansion-related investments begin paying dividends.
Image source: Getty Images.
Continue reading
Source: Motley Fool
(December 7, 2019 - 8:41 AM EST)
News by QuoteMedia
www.quotemedia.com
