When last we visited Energy Transfer earlier in May, the midstream machine and its combo platter of crude oil, natural gas, and NGL energy infrastructure had just wrapped up a spectacular 1Q. Perhaps there was a twinkle in the eye from Executive Chairman Kelcy Warren as the company marked its achievements, the reap of rewards from last year’s $9 billion in acquisitions, and the not-so-subtle hint there could be more fish to fry given just the right cast. ...

We seriously need a drone to fully witness and appreciate the Great Permian Midstream Buildout underway. But since an aerial device isn’t in the budget, Reese Energy Consulting today will instead go micro-vision on the Permian’s Delaware, where one of its largest midstream operators is going full throttle to expand its natural gas bones. ...

Is that confetti raining from the sky? No, that would be a blizzard of 1Q earnings reports from our oil and gas producer friends commiserating sub-zero natural gas prices, and our midstream friends largely making hay....