MRC Global is the largest distributor of pipes, valves, fittings, and related products and services to the energy industry. The company was founded in 1921 as McJunkin Supply Company and grew organically and through acquisitions over the years. In January
Investors like to examine pricing anomalies, particularly related to commodities that could be viewed as substitutes but trade at radically different prices. One barrel of crude oil has approximately six times the energy content of one thousand cubic feet (mcf) of natural gas. One mcf of natural gas is approximately equivalent to one million BTUs (MBTU). Despite the energy equivalence, for a variety of reasons, the pricing relationship between oil and natural gas is almost never exactly six to one. Read this article for our analysis.