Themes / Group
Active · newly observed relationshipLatest completed snapshot · Aug 24 · 16:55 ET

MARKET-DISCOVERED GROUP

Oil & Gas Midstream · PAGP

THE TRADER READShared activity without a clean directional read

Price direction is split across 19 measured members. Capital-flow confirmation is unavailable.

Price breadth3 up · 16 downRelative median unavailable
Capital-flow alignmentUnavailablePrice breadth is not yet confirmed by flow
Activity nowBuilding_pressureActivity score 46/100
Evidence depth0 support daysLow sample—context, not a validated playbook
EVIDENCE CLOCK

What happened, in timestamp order

0 timed events
TIMING READA causal timing read is unavailable because no material member price onset could be timestamped.

No session event has enough timestamp precision to place on the clock.

2 earlier filing context receipts

TUE, FEB 10AM filing documented shared operating contextcredit / rates affecting interest expense · date precision only

THU, MAY 7PAGP filing documented shared operating contextcredit / rates affecting interest expense · date precision only

Headline times and retained activity confirmations are point-in-time evidence. Price order is inferred from aligned 5-minute bars. Filing evidence has date precision only and is context, not an intraday catalyst claim.

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations
Price sequence unavailableA timestamped price sequence is unavailable.
RELATIVE CO-MOVEMENT

How the members are behaving together

Session-normalized

Observed intraday paths are not available for this group yet.

02 · WHY IT MATTERS

Why now and where the move could travel

Context and lead/lag links are evidence, not proof of causation or a forecast
WHY NOW

Verified recent context

0 items

No verified recent catalyst is attached to this move. The relationship may be market-led rather than news-led.

WHY THIS GROUP EXISTS

Shared filing context

19/19 members covered

Moderate filing support: the strongest shared 10-Q/K outlook is operating setup (near-term outlook) across CQP, DTM, EPD, ET, HESM, KMI, LNG, OKE, PAA, PAGP, SUN, SUNC, TRGP, VG, WMB, XOM.

credit / rates affecting interest expense

“Interest Expense, Net The following table summarizes the components impacting Interest expense, net (in millions): Three Months Ended March 31, 2026 2025 Interest expense on borrowings (1) $ 146 $ 109 Capitalized interest (2) (2) $ 144 $ 107 (1) The increase in interest expense for the three-month 2026 period compared to the same period in 2025 was primarily driven by higher weighted-average debt outstanding in the 2026 period from (i) the issuance by PAA of an aggregate of $3.0 billion of senior notes during 2025 and (ii) higher commercial paper and term loan borrowings by PAA in the 2026 period, primarily related to the funding of the Cactus III acquisition in November 2025, partially offset by (iii) the repayment by PAA of $1.0 billion of senior notes in October 2025.”

PAGP 10-Q · 2026-05-08
demand / volume

“While we cannot predict how or to what extent sustainable lending and investment practices may impact our operations, a material reduction in the capital available to the oil and natural gas industry could make it more difficult to secure funding for exploration, development, production, transportation and processing activities, which could result in decreased demand for our midstream services.”

AM 10-K · 2026-02-11
capital investment / capacity affecting capex

“Maintenance Capital The increase in maintenance capital spending for the three months ended March 31, 2026 compared to the same period in 2025 was primarily due to higher costs resulting from timing of certain pipeline integrity activities.”

PAGP 10-Q · 2026-05-08
CONFIRMATION NETWORK

Outsiders and cross-asset links

0 outsiders confirming
OKE → BNDPositive historical lead/lag · strength 0.17
OKE → UNGInverse historical lead/lag · strength -0.13

Filing-linked outsiders test whether the move is spreading beyond the established cohort.

No high-confidence filing-linked outsiders are available for this group yet.

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately
KMIWESDTMWMBPAGPEPDPAAHESMSUNCKNTKETSUNAMXOMOKETRGPVGCQPLNG

17/19 active3 rising · 16 falling

MemberUnusual activityToday's moveRead now
KMIKinder Morgan, Inc.
Elevated · 100/100
-0.2%
Active; unclassifiedHistorical role unavailable
WESWestern Midstream Partners, LP
Elevated · 100/100
-1.3%
Active; unclassifiedHistorical role unavailable
DTMDT Midstream, Inc.
Elevated · 76/100
+0.8%
Active; unclassifiedHistorical role unavailable
WMBThe Williams Companies, Inc.
Elevated · 70/100
+0.1%
Active; unclassifiedHistorical role unavailable
PAGPPlains GP Holdings, L.P.
Most unusual · 68/100
-0.6%
Active; unclassifiedHistorical role unavailable
EPDEnterprise Products Partners L.P.
Elevated · 65/100
-0.3%
Active; unclassifiedHistorical role unavailable
PAAPlains All American Pipeline, L
Elevated · 62/100
-1.2%
Active; unclassifiedHistorical role unavailable
HESMHess Midstream LP
Elevated · 61/100
+0.1%
Active; unclassifiedHistorical role unavailable
SUNCSunocoCorp LLC
Elevated · 58/100
-2.1%
Active; unclassifiedHistorical role unavailable
KNTKKinetik Holdings Inc.
Elevated · 53/100
-0.9%
Active; unclassifiedHistorical role unavailable
ETEnergy Transfer LP
Elevated · 51/100
-0.2%
Active; unclassifiedHistorical role unavailable
SUNSunoco LP
Elevated · 50/100
-2.3%
Active; unclassifiedHistorical role unavailable
AMAntero Midstream Corporation
Elevated · 47/100
-1.1%
Active; unclassifiedHistorical role unavailable
XOMExxonMobil Holdings Corporation
Elevated · 41/100
-2.1%
Active; unclassifiedHistorical role unavailable
OKEONEOK, Inc.
Elevated · 35/100
-1.5%
Active; unclassifiedHistorical role unavailable
TRGPTarga Resources Corp.
Elevated · 28/100
-2.4%
Active; unclassifiedHistorical role unavailable
VGVenture Global, Inc.
Quiet · 19/100
-2.3%
Watch / laggardHistorical role unavailable
CQPCheniere Energy Partners, LP
Quiet · 19/100
-0.9%
Watch / laggardHistorical role unavailable
LNGCheniere Energy, Inc.
Quiet · 15/100
-0.7%
Watch / laggardHistorical role unavailable
View exact member values
TICKERCompanyRole nowTodayObserved historyTrader interpretation
KMIKinder Morgan, Inc.Participating-0.2%—Price participation is not yet confirmed by per-name flow.
WESWestern Midstream Partners, LPParticipating-1.3%—Price participation is not yet confirmed by per-name flow.
DTMDT Midstream, Inc.Participating+0.8%—Price participation is not yet confirmed by per-name flow.
WMBThe Williams Companies, Inc.Participating+0.1%—Price participation is not yet confirmed by per-name flow.
PAGPPlains GP Holdings, L.P.Most unusual-0.6%—Most unusual activity in this snapshot; performance direction may differ.
EPDEnterprise Products Partners L.P.Participating-0.3%—Price participation is not yet confirmed by per-name flow.
PAAPlains All American Pipeline, LParticipating-1.2%—Price participation is not yet confirmed by per-name flow.
HESMHess Midstream LPParticipating+0.1%—Price participation is not yet confirmed by per-name flow.
SUNCSunocoCorp LLCParticipating-2.1%—Price participation is not yet confirmed by per-name flow.
KNTKKinetik Holdings Inc.Participating-0.9%—Price participation is not yet confirmed by per-name flow.
ETEnergy Transfer LPParticipating-0.2%—Price participation is not yet confirmed by per-name flow.
SUNSunoco LPParticipating-2.3%—Price participation is not yet confirmed by per-name flow.
AMAntero Midstream CorporationParticipating-1.1%—Price participation is not yet confirmed by per-name flow.
XOMExxonMobil Holdings CorporationParticipating-2.1%—Price participation is not yet confirmed by per-name flow.
OKEONEOK, Inc.Participating-1.5%—Price participation is not yet confirmed by per-name flow.
TRGPTarga Resources Corp.Participating-2.4%—Price participation is not yet confirmed by per-name flow.
VGVenture Global, Inc.Quiet / lagging-2.3%—Not participating yet; a breadth test or a genuine divergence.
CQPCheniere Energy Partners, LPQuiet / lagging-0.9%—Not participating yet; a breadth test or a genuine divergence.
LNGCheniere Energy, Inc.Quiet / lagging-0.7%—Not participating yet; a breadth test or a genuine divergence.

04 · HAS THIS HAPPENED BEFORE

Identity history versus measured outcomes

Structural recurrence is not the same as a validated trading outcome
POINT-IN-TIME LIVE OUTCOMES

Live outcome ledger collecting

0/0 events completed

No completed point-in-time outcome is available yet. New live confirmations are now retained with their exact observation timestamp; statistics appear only after the corresponding candles complete.

No point-in-time live observations have completed yet.
Low structural sample

Only 0 completed episodes across 0 active sessions; treat history as context, not a validated playbook. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support0 daysHow often the cohort identity was observed
Completed episodes0Separate periods of broad group activity
Active sessions0Completed session observations, not trades

Historical cohort observations are not available yet.