From Barron's 6-11-07: "In the limited partnership market, a company's daily energy production usually is valued at about $200,000 per barrel. But Forest Oil's production is valued at just $60,000 per barrel. That creates the opportunity for "significant valuation arbitrage," says Yang. Colorado-based Forest, with a market value of $2.5 billion, could seize that opportunity by selling off certain assets into an MLP. Yang figures that the company's shares would rise by $8 apiece, or 20%, if it created an MLP for its Permian Basin fields in West Texas. That gain assumes the company would not only reap proceeds from the sale, but also retain an interest in the partnership and benefit from appreciation. Forest has said it will consider MLPs as a way to create value, though it hasn't announced specific plans. Even if the company doesn't proceed with an MLP, it faces good prospects: Analysts see earnings rising 15% in 2008."

From Barron's 6-11-07: "With a market value of $6.2 billion, may put as much as $500 million of assets into master limited partnerships over the coming year. And that may be only a start: The investment firm Friedman, Billings, Ramsey figures that more than 90% of Pioneer's assets would be ideal for MLPs. With a significant ownership stake in future partnerships, Texas-based Pioneer could see its shares climb 40%, Friedman Billings calculates. Even without the partnerships, analysts see Pioneer's earnings rising 18% in 2008. Pioneer has said that one asset it plans to place in a partnership is its Spraberry oil and gas field in West Texas. In an MLP, the reserves in that field likely would have double the value they'd be accorded under a traditional corporate umbrella, according to Citigroup. "If investors get in during the early part of the U.S. MLP-creation cycle, they have the opportunity to profit," says Robert Gillon, an analyst at the energy research firm John S. Herold."

From Barron's 6-11-07: "KMP, which has a sizable market value of $12 billion and boasts a 6% yield. The company's businesses are largely fee-oriented, ranging from services it provides to pipelines it controls, making its yield more reliable should oil prices drop. The partnership trades at a below-average 13.4 multiple of enterprise value (market cap plus net debt) to-Ebitda (earnings before interest, taxes, depreciation and amortization, a measure of cash flow). Eaton Vance recommends it to the firm's private clients because a number of Kinder Morgan's pipeline investments should support growth in cash flow and yield in the future, including a major natural-gas pipeline under construction from Colorado to the Midwest, says Charles Gaffneysays Charles Gaffney, an energy analyst at the firm."

From Barron's 6-11-07: "TYG invests primarily in energy MLPs and yields roughly 5%. While the fund isn't cheap -- it trades at a 9% premium to its net asset value, according to ETFConnect.com -- it offers broad exposure. In the past year, it's outpaced the Alerian MLP Index, a measure of 50 prominent energy partnerships."