Not so long ago, master limited partnerships (MLPs) were the darlings of energy investors.

It’s easy to see why: They paid high dividends, employed reliable, transparent business models, and they even enjoyed some unique tax advantages.

They were simply one of the very best energy investments you could make.

Then the oil and natural gas bear started. This once red-hot class of shares froze over like a Siberian winter – quickly and brutally.

But as it turns out, that fall was only temporary. A select few MLPs are about to come roaring back in a big way, and I’m going to show you how to play them…

Why These Plays Were Extremely Profitable

We’ve harvested some very nice gains in the space, like the 368% we made on Cheniere Energy Inc. (NYSE: LNG) or 106% on Mid-Con Energy Partners LP (Nasdaq: MCEP).

In large part, I made these high-profit recommendations on the basis of the unique “tollkeeper” position provided to MLPs. While a few of these gravitated upstream to include field operations or downstream to emphasize processing and distribution, they most often would include holdings primarily comprised of pipeline, storage, terminal, gathering, initial processing, and similar midstream service assets in both crude oil and natural gas.

For regular investors, however, there were initially some healthy twofold benefits.The MLP business model itself was what initially drove the development of these holdings. This corporate structure has the advantage of eliminating a corporate tax level and moving all tax implications from corporate profits and losses directly to the personal tax returns of the general partners.

First, the underlying partnerships provided some heady upside at the outset. That enhanced the overall value of the assembled assets, but gave no immediate profit to holders of common stock (i.e., regular investors), at least, until the second benefit hit.

Once the general partners decided to spin off a portion of the MLP to retail investment, usually making up to 80% of the holding available for common trade and retaining 20% for the original partners, things began moving noticeably.