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Neel Mitra

Senior Analyst at Bank of America

Neel Mitra is a Senior Analyst at Bank of America, specializing in the coverage of North American midstream energy companies such as Oneok (OKE) and Equitrans Midstream (ETRN). He has developed a reputation for insightful stock ratings and timely calls, including making significant downgrades and price target revisions based on fundamental and regulatory developments. Mitra joined Bank of America in 2021 after serving as Director of Finance at Pickering Energy Partners and has previous experience at Concho Resources and Merewether Investment Management. His professional credentials likely include securities and analyst certifications required for senior sell-side roles, and he is noted for thorough fundamental research and impactful sector commentary.

Neel Mitra's questions to MPLX (MPLX) leadership

Neel Mitra's questions to MPLX (MPLX) leadership • Q4 2024

Question

Neel Mitra asked how MPLX successfully commercialized a greenfield export facility against established competitors and whether the project is fully committed or awaiting further contracts. He also inquired about the expected mix of term versus spot sales.

Answer

SVP David Heppner credited the joint venture with ONEOK for providing world-class scale and capital efficiency, confirming the project is fully FID'd. He explained each partner controls 50% of the dock capacity, with MPLX contracting its share to MPC. President and CEO Maryann Mannen added that MPC's existing strength in export markets provides high confidence in marketing the volumes.

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Neel Mitra's questions to Kinetik Holdings (KNTK) leadership

Neel Mitra's questions to Kinetik Holdings (KNTK) leadership • Q3 2024

Question

Neel Mitra inquired about the margin impact from sour gas and CO2 treating, its effect on Kinetik's competitive positioning, and the requirements for a potential EPIC Crude pipeline expansion.

Answer

President and CEO Jamie Welch detailed the significant margin premium for sour gas processing (around $1.80/Mcf) compared to sweet gas ($1.00-$1.10/Mcf). Regarding the EPIC pipeline, Welch stated an expansion is a matter of 'when, not if,' contingent on securing more long-term firm contracts to replace shorter-term agreements, highlighting Diamondback's recent commitment as a key step.

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