I’ve never had first-hand experience, but I did strike up an acquaintance with one of the towering greats of the midstream business, Dan Duncan. His Enterprise Products (EPD) is one of my biggest positions, going back to its IPO in ‘98. I have a far smaller position in ET.
My latest buy has been a tiny royalty trust out of northern Germany, North European Oil Royalty Trust (NET.) It’s actually natural gas-heavy and the rigs are operated by Mobil.
Nice, I should have kept my EPD, selling it was a mistake.