The bulls weren’t able to get the holiday-shortened trading week going on Tuesday, despite an encouraging consumer spending/income report for April. By the time Tuesday’s closing bell rang, the S&P 500 was down 0.12% to end the session at 2,412.91.

There was a common thread among the day’s worst performers, which were led by ENSCO PLC (NYSE:ESV), Whiting Petroleum Corp (NYSE:WLL) and Kinder Morgan Inc (NYSE:KMI). Here’s what investors need to know about each setback.

Kinder Morgan Inc (KMI)

The good news is, oil pipeline giant Kinder Morgan successfully completed its IPO (and subsequent listing) for Kinder Morgan Canada Limited. The $1.75 billion raised will be used to acquire a 30% stake in the limited partnership that holds Kinder Morgan. Those proceeds will be used to pay down debt.

The bad news for KMI shareholders is that two Canadian political parties that don’t want Kinder Morgan to expand its pipeline network are now teaming up to work against the company.

The two parties, New Democratic Party and the Green Party, oppose the planned Trans Mountain pipeline that was going to facilitate the sale of oil to Asian buyers. Together, the two parties may be able to supplant the mostly-pro-energy Liberal Party presently in power in British Columbia.

KMI ended the day down 4.3% on the news.

Whiting Petroleum Corp (WLL)

Kinder Morgan wasn’t the only energy name to use more than its fair share of red ink today. U.S.-based exploration outfit Whiting Petroleum saw its stock tumble to the tune of 8.7%, albeit for a different reason than KMI fell.

The prod was a downgrade of WLL by Goldman Sachs. Analyst Brian Singer lowered his stance on Whiting Petroleum from “Neutral” to “Sell” on concerns of reduced cash flow and a lack of capital. Goldman also lowered its estimates for the company’s full-year loss. Singer had been modeling a loss of 48 cents per share, but now foresees a loss of 54 cents per share in 2017. Oil prices aren’t firming up as much as previously expected.

ENSCO PLC (ESV)

Finally, contract oil driller ENSCO earned a spot on the daily worst-three list, but not for either of the same reasons KMI and WLL tumbled. In the case of ENSCO, ESV shareholders were less than thrilled with the company’s decision to acquire Atwood Oceanics, Inc. (NYSE:ATW) to the tune of $839 million.

ENSCO CEO Carl Trowell commented:

“This acquisition significantly enhances our high-specification floater and jackup fleets, adding technologically advanced drillships and semisubmersibles, and refreshing our premium jackup fleet to best position ourselves for the market recovery. We believe that the purchase price for these assets represents a compelling value to our shareholders, which is augmented further by expected synergies from the transaction.”

The offer implies a value of $10.72 per share of ATW, or more than 25% above Friday’s closing price, 100% payable in ESV shares … 1.6 shares of ESV for every one share of ATW. While the arrangement preserves precious cash, the 5.1% pullback ENSCO shares suffered on Tuesday suggests investors don’t see quite as much benefit as Trowell touted.

As of this writing, James Brumley did not hold a position in any of the aforementioned securities.