Too many conflicts of interest. AGP is a pipe dream.
This baby is toast. Interest expense is eating up half, yes half, or Ebitda. Production is declining quarter over quarter due to decreased maintenance capital spending and they have very few assets that provide a decent IRR at current prices.
Cohen should have rolled the GP into ARP when they sold APL to Targa but he got greedy.
Your world view is very flawed. Many on this board, myself included, were telling people to get out as far back as a year ago. People convince themselves that chasing yield is worth it. They convince themselves that they know more than the street.
Many MLPs and E&Ps with debt will survive, in fact, many will even thrive. ARP is poorly managed, has very poor leadership. Cohen is a senile old clown but make no mistake, I bet you a dollar he ends up holding assets post bankruptcy. He'll find a way to weasel control of the private drilling partnerships, Lightfoot etc.