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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (151379)	5/25/2011 5:18:39 PM
From: Dennis Roth	4 Recommendations Read Replies (2) \| Respond to of 206093

CS Take on MLPs Weekly Analysis NGLs - From Supply Glut to Supply Shortage 27 pages, 38 exhibits Download Link: sendspace.com *NGL Update Call with Industry Expert Peter Fasullo from EnVantage:** Key takeaways: 1) “The NGL business has never been so good”. NGL prices are firm, frac spreads are at record levels and the growth in NGL production is being more than matched by robust petrochemical demand. 2) NGLs extraction is expected to grow by 500,000 bpd (23%) between now and 2015-2020. 3) Ethane extraction (excluding Marcellus) should grow even faster over this time frame. 4) Ethane demand is increasing because it is a cheaper feedstock for ethylene steam crackers. 5) Ethane demand is likely to grow by another 100,000 bpd over the next two years as the ethylene industry converts more furnaces and debottlenecks. 6) Canada is likely to import as much as 90,000 bpd of ethane over the next 10 years. 7) At least 85,000 bpd of Marcellus ethane will be required in the Gulf Coast to satisfy demand. 8) Short-term, planned and unplanned ethylene plant downtime can impact NGL fundamentals. Please contact your Credit Suisse salesperson for a copy of the slides and transcript. See page 3. ---- ECA Marcellus Trust I (ECT) Drilling Program Now Expected to be Completed in 2011; Buy 22 May 2011 ¦ 14 pages citigroupgeo.com Maintain Buy; Target Price Unchanged at $32.50/Unit — In our view, the investment proposition is favorably supported by: 1) a strong development drilling program, 2) cash flow stream protected by hedging program, and 3) continued interest in yield-oriented Investments. In the near term, we caution investors that short term absolute performance could be challenging due to continued volatility in natural gas prices and headlines related to the EPA's study on the effects of hydraulic fracturing --- OT: FUNDamental Insights CEF Highlights 23 May 2011 ¦ 28 pages citigroupgeo.com In this report, we aim to provide investors with a regular update and our latest views of the closed-end fund (CEF) sector.