As soon as they say that redetermination is OK and that they have the banks blessing it will go up above $1. This was a dumb way to announce what the banks have demanded.
Best hedges for going forward are MEMP and ARP. This does not mean that both won't go BK if things do not change in the next 2 years. LINE and BBEP do not have great hedges and are doomed.
Stock is reacting terribly as we wait for May report. Hopefully management has work out an arrangement with the banks this time, and that was why there was no Q/A after the last earnings cal. That would lift the stock.
Citi downgraded today with many others. They are buying cheap and will upgrade after they buy. This is going up with their hedges and distribution. Their earnings were solid and will be for 3 more years. Oil above 40 and will be back to 50 some time this year.