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EV Energy Partners LP Message Board

  • aghfella aghfella Jan 29, 2013 11:02 AM Flag

    Utica

    Good msg on MWE msg bd about Utica valuations and supply and demand. Certainly worth reading as in may have had an impact on our deal.

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    • artist_formerly_known_as_pooch artist_formerly_known_as_pooch Jan 29, 2013 11:52 AM Flag

      Utica NGL's cut both ways. Ethane and Propane are seriously weak. Butane, natural gasolines and other condensates are not. As the article mentioned, sending condensates north as dilutant is a given. But also, Utica may not be in such a bad position for Ethane and Propane as likely those will find takeaway on MWE's Mariner projects or EPD's ATEX, not to mention the much longer term siting of a cracker in the area.

      Liquids prices are now weak, but they won't always be. Customers adjust and adapt creating demand. Land isn't being bought and sold now based on April Henry Hub prices. It's being bought looking at decades long time horizons.

      Regardless, this cone of silence isn't helping things. EVEP may have made a mistake in being so certain of the year end goal--heck, no weasel words here, they did make a mistake in doing so. but being silent is not the answer. As someone pointed out yesterday, EVEP lists a code of disclosure on their website and, long story short, they pledge to disclose enough information for an investor to adequately evaluate their investment.

      Honestly, I can't evaluate EVEP enough to put a value on it. Neither can the analysts whose CURRENT price targets range from $54 to $108.

 
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