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EV Energy Partners LP Message Board

  • rlp2451 rlp2451 Apr 19, 2013 12:21 PM Flag

    Secondary Offering Concerns

    Someone mentioned this earlier but it didn't get much notice.

    The midstream project is projected to cost $250MM and they are going to need that money soon.

    The more the unit price falls, the more units they are going to have to issue to fund it, unless they do a bond offer. As it stands now, they will need to issue 5.5 million units to fund it.

    If management knew earlier in the year that the Utica sales weren't going to occur, I think they should have gone ahead and issued the units when the price was in the $55 range.

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