Pretty hsard to renegotiate when ETP has the connection to your gas well and a contract for 20 years. Also people forget that with existing wells they are profitable at about $2NG. We are above that.
If a brokerage company is involved in financing they must put that company on restriction for 90 dyas. It means nothing either positive or negative.
scabber - EPD processes and exports millions of dollars of propane. The cost feedstock for propane was down by about $1B last Q. The sale price was down by a couple million less. Thus revenues down by $998M and profit for that segment up $2M. Costco gasoline sales are down by about 35% this last quarter, but their profit is the same. Get it?
Sorry to hear the line is not going to be fixed this year. Coffee 101 is a 12 month course.
You need to go to the National Association of Publiclly Traded Partnership and figure out what matters and what does not. Revenues are not a guideline and neither is earnings.
Sailhappy - Agree with everything except your Regency comment. Have heard almost nothing from RGP shareholders. I am happy with the offer. The only ones not happy are the dirt bag attorneys.
2015 will be another year of about $3NG and oil not likely to move up a whole lot - maybe to $50-70 - because of supply. NG supply will continue to increase but demand for NG in the US is moving up this year because of HEAT and not cold. There are some 15 new pearker NG planyts in the last 18 months and combine that with more homes connected to NG and you have about 1BCF a day in increased demand in the USA. Not enough to move the price needle but it should not go down either. 2016 brings LNG exports and here the pricture changes. Greater demand by a significant amount.
FYI - Australia LNG export projects are getting pushed back and there actually will be a bunch of cuts in oil from deep sea drillers and the normal decline of about 5% or so. Oil should be back in balance by 2015YE (it is only out by some 1.5M bb/l/day) with cuts for some countries and again remember demand is going up.
Investor action? It is way too late to sell anything now except foreign currencies. I am simply holding all the companies I feel good about in a longer term - 5-10 year - perspective. I am not a trader and while the 15% hit my portfolio took lately every company is still showing profits and in 2015 companies will be VERY profitable as the cut expenses and only drill the best. If prices stay down 2016 is where declines in US production will start to show in Q2 and beyond. People forget that from well completion to being fully in production is from several months to well over a year in places like the Bakken.
ETP does not pay a dividend. Really scary if you already own. It is a Master Limited Partnership and you get a K-1. You would report to the IRS on any or all of about 6 forms using the K-1.
Keebon - The distribution cut was announced MONTHS AGO when WPZ agreed to merge. WPZ has paid out about 115% of DCF in recent years. As your second question - did you read the press release? Neutral this year and mildly accrective in 2016 and beyond.
Marv - SUN is publically traded. I agree ETP will sell via a secondary their shares in SUN at the first possible moment. The question is what do they do with the GP interest in SUN? Does not fit well in ETP. Possibly trade to ETE for the 20M units ETE will have via the RGP merger? Do not think MWE does a deal with anyone for a while. Need to get things sorted out a bit to see if sall their producers are going to keep MWE whole on their contracts and get capex down a bit. Marv more likely in late 2016 or early 2017 for deal/buyout. MMP is perfect but wants to stay right where it is and SUN possibly could be interesting to them. Problem is ETP wants to end up with the wholesale part and only sell the retail according to Kelcey.
Mktply - There is simply a situation where Cushing emptied out and the Gulf is full. Also Seaway expansion is now 100% on line via looping and there is more capacity than is needed until exports ramp up. Also starting some of the down time for annual maintainance. No worries.
ETP announced in a conference call in February of 2014 that they were going to merge RGP into ETP. The SUSS/SUN buyout sort of sidetracked that. Would think the next thing is for ETP to sell its GP interest in SUN and its units (the units probably in a secondary offering). No idea if the GP interest goes to ETE in return for the 20M of ETP units that ETE will acquire in ETP in the conversion of RGP units ETE already owns.
MMP if I remember has some interesting restrictions on any buyout. Targa is for sale willingly. MWE gonna need to wait another 2 or 3 years for Semple to be ready to retire. MWE and Frank fought long and hard the last time and the board voted to not even present the offer to shareholders.
No. If you go to the ETP website and look at 2014 news releases you can see they announced the increase on 1/28 last year for Q4 of 2013. Thus announcement next week.
Is your question serious? LNG exports kick in in 2016 and bigger in 2017. At that point we will have no surplus gas. Price for NG dropped this year because the weather has been so warm. NG consumption will be up lots this summer if weather is warm as lots of new NG peaker plants. Prices should definately rise in 2016 in parallel to demand.
I think you might find a BIG change today after the MHR conferencwe call where they cut capex spending on drilling to effectively about $11M down some $300M! Go to MHR website and listen.