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Chesapeake Midstream Partners, L.P. Message Board

  • filmtarget filmtarget May 11, 2012 12:00 PM Flag

    Why down so much?What's wromg with it?


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    • CHKM is selling off in sympathy with General Partner, CHK. When more corpoarte separation appears , CHKM should recover nicely. When That occurs ? Several quarters of Earnings and revenues should do the job and demonstrate CHKM's vialility as a separate entity. We should also see CHK selling off assets to delever(reduce debt levels), while CHKM should be acquiring some of these assets and using cashflows from these purchases to increase payouts.But of course shoulda coulda woulda , we don't know exactly what will transpire in the near future and that is at the root of the selloff

    • Amid management turmoil at its parent company Chesapeake Energy (CHK), pipeline developer and operator Chesapeake Midstream Partners (CHKM) is still a good bet, analysts say. Goldman takes CHKM off conviction list because of CHK's management problems and lower natural gas production, but keeps it buy: "We have a favorable view of CHKM's sector-leading distribution growth, safe contracts, and solid balance sheet."

      I Started a position today.... GL

    • It is connected to CHK which has totally lost confidence of investors.

      • 1 Reply to TxTraderMan
      • apparently CHKR also dropped a bomb at their earnings report and came in much lower than expected (which is kind of hard to do with a brand-new royalty trust, IMO). nothing to do with CHKM of course but just more tarnish on stuff associated with CHKM.

        There is of course some potential operating impact if CHK isn't developing properties at their originally envisioned rate, but I think I recall reading that the minimum volume commitments in their transport contracts are sufficient to sustain the minimum distribution ($1.35). If CHK ever gets to that point someone out there will buy them, they just have too many raw assets to sit there in a depressed state for long.

        This is getting to be a very choice price, IMO. If we can vote Aubrey off the board we'll get a 15% pop just for that.


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