Could it be that the company just does not have a handle yet on what the Ohio Valley and Sibon acquistions are going to contribute to the bottom line?
Can somebody please tell me...just briefly...what was said in the conference call? I read the transcript and I was not able to understand exactly what was said. Is EBITDA now at 5.5 or did I get this messed up? I remember last year at this time the conferees were predicting big gains in the distribution which did not occur and I am having some reservations based upon what was said.
I believe they did say the Ohio Valley and Slibon projects are just now coming online.
and likewise the prices for hauling the hydrocarbons should follow on as well. No one wants to see a war, least of all me, but the tensions between Iran and Israel is going to basically shut down the straight of Hormuz I don't know what the impact will be should Japan and China decide to have a "Falklands Island" type war over a bunch of semi-submerged rocks except China is saying the area is rich for offshore oil drilling. As if they could care since Chesapeake sold them what 6,000,000 acres of oil lease land in Texas.
No. I did not know that the distributions were split adjusted. So basically before the split the distribution was .36 per unit but after the split and everyone ended up with 2 units to every one unit they had before, they got .20 distribution per unit. Not bad. I wonder what the total number of outstanding shares were at the time of the split.
I am looking for some historical information about Crosstex, preferably out on the web, which might give me some insight into the number of shares that were outstanding before the 2:1 stock split in March 2004 and how the company was paying a .375 dividend the quarter before the split and .40 the quarter after the split. If anyone knows where I can look to find this historical information on what the company looked like, e.g. what its holdings or infrastructure was like leading up to the 2008 collapse (of just about every stock on the boards), I would be appreciative.
Finance yahoo board is saying that Crosstex corporation is raising $75 million dollars through a private equity deal, where individual shares in this deal are to be sold for $13.25 pps. Then the article jumps back to talking about how the partnership will now have 66 million shares outstanding, which is the limited partnership. So is it XTEX or XTXI that is raising money? (Also, I worried because the article hinted at a possible dilution of ? (distribution or dividend...XTXI pays a dividend, right? Not a distribution.)
I am really confused.
I do not see any big losses re: the sinkhole problem. The company had stated they expected to recover their losses from insurance payments that will cover the damages.
"The governor of Louisiana, home of an expanding, gas-bubbling sinkhole the size of three football fields with radiation levels three times the state's acceptable limit...."
Radiation levels? From what?
Clearfield (I don't know about the Sibon deal) was a privately owned company and did not have to publish any of their P/L, Asset and Liabilities, etc. information.
Now that Clearfield, i.e Ohio Valley and Sibon are part of Crosstex I would sure like to know what their books look like.
How long do you think it will be before Crosstex posts any of these figures?
My 2 cents worth is that no one has any idea how to figure in what the Clearfield (Ohio Valley) and Sibon contributions will be to the bottom line in the future and are just knee jerking to what it cost now, rather than looking down the road. XTEX according to Dividend Detective is now a Billion Dollar company.
Finance Yahoo has them hanging back at almost a billion, thinks that by the end of next year the company will be doing $2 Billion worth of business before taxes, capex, etc. and a $2 Billion a year company with only...what 62 million (?) outstanding shares... maybe less, is worth more than $15/shr, but I am sitting back waiting for the days prior to the meltdown of 2008, when the distributions were .50 per unit/qtr.
So your evaluation of the this quarter's dip in DCF, etc. is related to the costs of acquisition of the Clearfield and Sibon (?) facilities, and once the income from their operations is added into the mix, it will take how many, 1,2 or 3 quarters, for an uptick in the DCF and erasure of the big negatives in the liabilities column?
I don't think there was any mention of a distribution reduction, just a revision of the growth in the distribution schedule during the "forward seeing" portion of two conference calls before the latest where distributions were projected to increase this year by 10% or better.
In the meantime, what we have to hope for is the Clearfield (Ohio Valley) and Sibon La. projects are not busts, put a lot of cash in XTEX coffers, and the sinkhole did not do any damage to the pipeline and business can continue as usual.
Was the sinkhole caused by Chevron doing something to their salt dome caverns? If so, doesn't their insurance cover loss of income caused by this problem. I know they declared a force majeure with respect to the occurrence, but that does not release the company where the sinkhole occurred form bieng held for damages if they dug around the cavern (whatever) without assessing erosion and soil stability before continuing.
Plus, it does not cover loss of good will on the part of customers who had their supply chain disrupted, albeit not by a cause attributable to XTEX. Lawyers, lawyers, lawyers, lawyers, and insurance people. Can't we build a good jet fighter or are we only going to turn out lawyers.
I think they said if the Ohio Valley and La. deals pay off like they are hoping they can increase in 2013 the distributions 20%.
I think that "trading" an MLP instead of considering it a "forever" hold is a mistake. Google tax implications on sale of a MLP. It is a lot more complicated than the ".60 cents" you mentioned. Talk to a CPA who knows about tax issues associated with MLPs.
Liza, who are you quoting? I am not taking issue with anything that is said, but there are a lot of factors included in your quote which were obviously overlooked by other analysts, including finance.yahoo.com. One of them is even going so far as to say that further dilution maybe necessary (I guess through borrowing or stock offerings) with a subsequent drop in the distribution, which I personally think is way premature taking into consideration we have not even begun to see what the Clearfield and Sibon acquisitions are going to add to the company's earnings and DCF.
Of course, I am a little worried about today's new about the sinkhole in La. Some companies are just re-routing their shipments, but I don't know if the XTEX pipeline structure is laid out so that if two points are knocked down, supplies can be re-routed around the problem area.
Thank you for your insight, and I am keeping my fingers crossed for big inputs from the Clearfield and Sibon acquisitions.
Have any of you seen the (NYSE:NTI) IPO offering? Or read of its variable distributions? What is even crazier is this company is into both pipelines, gas stations (SuperAmerica) and BAKERIES (SuperMom's recipe).
I don't understand how they even put together a MLP. And the distributions seem to be more of a promise than a reality as of right now, although trying to get an exact figure for their previous quarters distribution is like trying to nail jello to a wall. It bounces from the upper .40+ to .26 if you only held half a quarter. I went nuts after reading this.
Any of you who might have a handle on exactly what this company is doing would be appreciated if they shared it.