After years of being considered a refuge for oil and gas investors during a downturn, the midstream sector’s ability to ride the waves of volatile commodity prices appears, this time around, headed toward a belly flop.

The midstream sector’s crisscrossing thoroughfares, which transport commodities across the country and to the sea, have for years managed to stay strong even in weak oil and gas markets. Midstream’s insulation was, in large part, thanks to unrelenting spending for new infrastructure. But after building out colossal infrastructure projects, companies within the midstream sector find themselves squeezed just as their assets were settling in for a comfortable middle age.

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