$GEL

Seven midstream energy companies in the Alerian Midstream Energy Index (AMNA) spent $856 million on buybacks in 2Q26, led by Cheniere Energy (LNG) with $550 million. Other active buyers included Enterprise Products Partners (EPD), MPLX (MPLX), Targa Resources (TRGP), and Antero Midstream (AM).

The New York Times reports Greenland Energy Co. is seeking approval to drill exploratory wells at Jameson Land, Greenland, after a June community meeting drew criticism over profit sharing and environmental impacts. Greenland authorities pushed final approvals back to unlikely before 2028, and Greenland Energy shifted to one well. Its shares fell to about $1. The project is backed by Dr. Phil and Gov. Jeff Landry, with documents reviewed by the Times citing a pre-policy-change license.

Fortune reports Texas-based Greenland Energy’s planned east Greenland test well has been delayed multiple times. After local opposition and permitting slowdowns, drilling was pushed from summer to winter on the Greenland government’s request, then again to end-2027 due to equipment-mobilization issues. Greenland Energy, which went public on Nasdaq in March, says it remains financially sound despite an ~85% market-cap drop to about $54 million.

Genesis Energy (GEL) reported Q2 results that exceeded Wall Street expectations, citing asset sales, cost savings, and temporary margin gains. CEO Grant Sims said the company cut the all-in annual run-rate cost of capital on existing businesses by about $25 million and is continuing to reduce high-cost preferred equity. Analysts asked about sustainability of margins and timing of further retirements; no further questions followed.

A Texas-based energy exploration firm, Greenland Energy, says it unloaded and stored drilling equipment in east Greenland without authorization, prompting an outcry. The Greenland government issued a strong warning that future logistics must be notified and approved by the mineral resources authority. Greenland Energy says it was taking a preliminary step toward exploration and disputes the need for broader authorization.

A VettaFi report on 2Q26 midstream dividends says 95.6% of the Alerian Midstream Energy Index (AMNA) constituents by weight increased dividends year over year. Sequential growth was driven mainly by MLPs, with no AMNA constituent cutting its regular dividend since July 2021. Examples include EPD (+1.8% to $0.56/unit) and GEL (+11.1% to $0.20). Yields as of Aug 7: AMZ 6.4%, AMZI 6.7%, AMNA 4.4%.

Genesis Energy’s Q2 outlook focuses on higher offshore volumes from new deepwater Gulf wells, continued debt and preferred equity retirements to target about 4x long-term leverage, and caution that some Q2 margin gains from market dislocations and SPR releases may not repeat. The article notes the stock at $15.19.

Genesis Energy (NYSE:GEL) said it reduced borrowings on its $900 million senior secured credit facility to zero and retired about $218 million of Series A preferred securities in 1H 2026. It issued $750 million 6.75% notes due 2034 and redeemed 7.75% notes due 2028, targeting ~$25 million lower annualized all-in cost of capital. Quarterly distribution rose to $0.20.

Greenland Energy, a Texas-based company, has begun drilling preparations in Greenland’s Jameson Land without coordinating with authorities, after equipment was delivered to the east coast without landing permits, according to the Greenland government. The firm plans two exploratory wells, citing potential oil reserves worth about $1 trillion and $60 million in drilling spend, pending authorization.

Greenland warned Texas-based Greenland Energy, saying it lacked required approvals before starting drilling preparations in Jameson Land. Residents reported a barge carrying equipment. Greenland Energy plans to spend $60 million to drill two wells, citing potential large crude resources. The government said the needed license approval expired and is not renewed.