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Crosstex Energy, L.P. Message Board

  • lisahuang54321 lisahuang54321 Apr 10, 2010 3:05 PM Flag

    G&P comparisons

    Thinking of adding some G&Ps to my E&P heavy portfolio.

    Does anyone have comments on the relative merits of the G&P MLPs?

    APL, XTEX, EROC, CPNO, MWE, NGLS, RGNC, DPM, KGS, WES

    Did I miss any?

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    • Lisa,

      This may be a little off the track of a true G&P, but BP has taken a beating over the Gulf disaster. Congress brow beat them into cutting their dividend, traders treat them like they have they pox, but their worldwide operations will spring back big time by this time next year.
      This is a good time to get BP on the cheap, hold it a year, get their +$4 dividend, plus almost 100% capital gains if they go up as high as they were pre-Gulf disaster.

      P.S.

      Living in Houston, BP bought out the old AMOCO refinery that was literally falling down. Finally one day it blew up and killed a lot of people. BP just settled out of court to the big buck claims. They have a specialty division loaded with money to handle disasters and their costs. They take a hit for a while, gives their shareholders a chance to double down and make some cash.

    • See RGNC's Analyst Day presentation on their website--one slide shows lifting costs by major play, which I found very interesting because of the major differences. Haynesville, the Marcellus and Eagle Ford were the lowest, I believe, which might help you decide which G & P looks best.

      I own RGNC, like its position in the Haynesville, strong sponsorship, returns and projected increases in DCF for 2010. I also own MWE because of its Marcellus exposure and KGS because I believe the market is underestimating 2010 DCF and distribution possibilities. I sold CPNO because distributions seemed to have flat-lined for 2010.

      XTEX seems to be gaining some respect, but I'm getting just as much price appreciation by owning BX, plus I'm getting a current cash return. And if XTEX is bought out, BX will be a big winner.

      Can't say anything about the rest...

 
XTEX
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