At the 2023 ADI Forum, Diaco Aviki, EVP & COO, Crestwood Midstream Partners, shared his perspective on the evolving midstream landscape. He discussed Crestwood’s strategy for staying ahead. The company viewed the midstream sector as crucial for both domestic and global energy needs. Crestwood anticipated that the U.S. will need to increase its energy supply. Crestwood reshaped its portfolio, including divesting its salt mining business. It also sold off its natural gas storage facilities, as those assets didn’t align with their lack of long-haul pipelines. Crestwood was now focused on oil-rich basins. The company believed oil demand would remain strong in the near to medium term. They sold assets in maturing basins like the Barnett and Fayetteville. Additionally, they sold some in the Marcellus region where growth is perceived as limited. This pivot was driven by the need for growth. It was critical for attracting investors, especially within an MLP structure focused on distributing returns to unit holders.
About ADI Analytics
ADI is a prestigious, boutique consulting firm specializing in oil and gas, energy, and chemicals since 2009. We bring deep expertise in a broad range of markets where we support Fortune 500, mid-sized and early-stage companies, and investors with consulting services, research reports, and data and analytics, with the goal of delivering actionable outcomes to help our clients achieve tangible results.
We also host the ADI Forum that brings c-suite executives together for meaningful dialogue and strategic insights across the oil & gas, energy transition, and chemicals value chains. Learn more about the ADI Forum.
Subscribe to our newsletter or contact us to learn more.
