There was a Reuters article in which an analyst stated that the midstream carrying the gas for Chesapeake would be subject to 50% fee reductions, either by renegotiations directly with Chesapeake or by a bankruptcy judge. The analyst's name was Hatfield, iirc. I puked a little in my mouth when I read it. I own some CEQP and NGL. What a mess.
The euphemism of which you speak is called a form of sector rotation. the trick is to buy cheaply. Once you find something insanely cheap, buy it only if you are willing to double down if the price halves from your initial purchase...you can not call the bottom. Nerves of steel. I thought the tech bust was 2000?
Lucius has been helping folk since 2009. He later told us he sold EVEP when it hit $50, so he could built a new garage for his toys...which I assumed was a Harley, #$%$ Corvette, and one of those wood boats they drive on Lake Tahoe.
I forgot to add, I'll be friggin' thrilled if they simply maintain their dist. the next few years.
Carson: Do you realize just how f'in crazy you are?
Anton: Do you mean the nature of this conversation?
Carson: No, I mean the nature of you.
I hope both CEQP & NGL cut their distributions in half and become self-funding; equity and debt markets be d*mned. Finance your growth internally. It lends itself to discipline and hard#$%$ cost cutting.
That is all.
Exactly, why would the Saudi's stop oversupplying any time soon, after having wounded both themselves and their competition. As Ruby said, they have their sandal on the throats of the world's oil producers...and will not relent. It's like a James Kirkland fight, whoever is wobbled first, is going TU.