Overview
Emerging from a difficult few years due to low and volatile energy prices, master limited partnerships (MLPs) had an eventful 2017. While in recent years the low energy prices have claimed several MLPs (especially upstream MLPs engaged in the exploration and production activities), other MLPs have been busy charting new ways to succeed in a changing environment. This article provides a brief overview of MLP basics, including the common operating structure and governance model. It also examines significant transactions and trends witnessed in 2017. Finally, it looks forward to 2018 and provides an outlook on the MLP industry. For further information on MLPs, see Top 10 Practice Tips: Master Limited Partnerships.
