Pickens Buys In | Russell T. Rudy Energy LLC
Legendary oil investor, T. Boone Pickens, is apparently betting on an oil recovery. Last February he made headlines saying he had liquidated his energy holdings, saying “The low is in. Just don’t get in a rush here. You’re going to have plenty of opportunity. The market is going to be volatile. It’s not going to go straight up, so there will be good entry points.”
Apparently Pickens thinks we are at one of those points. In the second quarter of this year, his Dallas based firm, BP Capital Fund Advisors LLC, reportedly invested an additional $55 million in 8 companies. These included pipeline companies such as Williams Partners LP, Plains All-American Pipeline LP and Enbridge Energy Partners LP. He apparently divested holdings in a dozen other companies including Schlumberger.
Plains All-American Pipeline seems to be following a pipeline industry trend, announcing it is simplifying the structure of its limited partnership.
To read the article in its entirety, please go to http://www.worldoil.com/news/2016/8/15/oil-tycoon-pickens-boosted-energy-holdings-as-rigs-bottomed-out .
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