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maybe they want to buy KWK's interest in BBEP cheap and it got cheaper today. The reduced stock price and no dividend puts enormous pressure on KWK. Look at their books and you will see what I mean. This will cause them an enormous amount of pain.
Maybe the endgame is to go private with management taking a stake. If so, they have just driven the price down to an attractive levle. Beware of the takeunder strategy.
hmm but i doubt kwk or klarman would sell at these levels