Financing the midstream build-out has the attention of the industry as well as the capital markets that will make it happen. UBS Securities recently published a major research report, “Where the Puck is Going,” that has excellent analysis of where the North American and global energy industry has been, as well as fascinating statistics on the major master limited partnerships (MLPs) operating in the midstream space.

The UBS numbers are a reminder of how greatly things have changed during the past five years. “With the emergence of shale plays the flow of oil and natural gas in the U.S. has changed. We are now producing more of both— and from nontraditional regions of production—turning the logistics of moving oil, natural gas, NGLs [natural gas liquids] and refined products on its head,” the report starts out.

Following that are some impressive charts, tables and graphics that benchmark the business. Then the report poses a question to its readers: “To quote a commonly used hockey reference, ‘That is where the puck has been, but where is the puck going?’ ”

Ah, now the fun begins. What the coach draws on the blackboard in the locker room while the Zamboni smoothes the ice may not line up with what happens on the rink after the referee drops the puck. But UBS does a creditable job of projecting what lies ahead: A very exciting game.

We take a look of our own at several projections this month on what midstream capital budgets will be and where the money will be spent. We invited one of our frequent contributors, Gregory DL Morris, to visit with multiple midstream operators and analysts to get a sense of what will come during the rest of this big game in which we’re all involved.

Meanwhile, our friends at Alerian do some projections of their own in this issue’s Alerian Index column. I find both features fascinating and I know you will, too.

It’s cold outside

Thus far, the winter of 2013-14 has been brutal for much of the U.S. and Canada—and those drooping weekly gas storage numbers from the U.S. Energy Information Administration prove it. We take a look at how midstream operators may incorporate private weather forecasting to better manage their assets.

Several of us at Midstream Business will return to Tulsa, Oklahoma, shortly for Hart Energy’s 2nd annual DUG Midcontinent conference. Last year’s event sold out. We’ll move downtown to the Cox Business Center this year for what we expect to be an even bigger and more successful event.

In conjunction, Michelle Thompson provides an update on the multiple plays that have made the Midcontinent come alive once again. While no longer a full-time staff member, Michelle plans to contribute occasionally. We thank her for her well-done, award-winning copy.

As always, we welcome your comments and insights in how we can make this publication even better.