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EV Energy Partners LP Message Board

artist_formerly_known_as_pooch 1872 posts  |  Last Activity: May 29, 2014 8:01 PM Member since: Jul 14, 2000
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  • artist_formerly_known_as_pooch by artist_formerly_known_as_pooch May 29, 2014 8:01 PM Flag

    anyone notice Walkers Petrologistics was sold? Maybe the old man can find time now to do something with the Utica acreage

  • artist_formerly_known_as_pooch by artist_formerly_known_as_pooch May 12, 2014 8:56 AM Flag

    That's my big impediment to getting back in with more than my "legacy" units. They did not cover their distribution yet again, and missed in a big way. Though the distribution increases are a joke and don't really cost them any real money, I feel it is HIGHLY deceptive to raise the distribution BY ANY AMOUNT when it hasn't come close to being covered recently.

    It leaves a bad taste in my mouth how Houser feels it OK to deceive unitholders like that.

  • artist_formerly_known_as_pooch by artist_formerly_known_as_pooch May 7, 2014 6:37 AM Flag

    Yesterday EVEP put out an 8k announcing they had "released" Ron Gadjica. Only was with EVEP for 4 years. Hopefully no skunk is going to emerge later on in the filings. Unfortunately Walker is still on board and handing the sale of the Utica

  • artist_formerly_known_as_pooch artist_formerly_known_as_pooch Apr 23, 2014 8:27 PM Flag

    I was close

    Max out the buyback into a 12-1 split beginning H2 2014. Announce a 50 billion buyback availability based on financial metrics (similar to BRKB buyback program). Increase dividend 10% over last year.

    Aquisitions are best for both parties done with stock anyways. Cash can better be used investing in the stock. Spend the stock when M&A makes sense

  • artist_formerly_known_as_pooch artist_formerly_known_as_pooch Apr 22, 2014 6:36 AM Flag

    I think it's money moving into E&P's in general. Nothing positive. Nothing negative. Just a rising tide lifting all boats here. I haven't had a chance to evaluate the rearranging of the deck chairs here at EVEP but at lest it is not seen as a negative. I've not re bought what here what I lightened up on earlier. Made decent money on GPOR finally. Got hurt on COG. Comfortable holding all of these. Cautious on adding to any of these positions. I DON't see any big EVEP deal this year. No one is buying land, especially in Utica. If the Utica pans out, it will be Enervest/ChK drilling it or a land sale 2 years down the road when drilling resumes in the US.

    Takeaway is going to be a continuing issue. It's why I got hurt on COG. COG is profitable, but can't get it's Marcellus gas to market at market prices. Utica Wet gas window is a weak spot right now. Ethane is the largest component of ngl. But there is nowhere near enough ethane takeaway. That ethane is getting drygas prices. 3 years ago ethane was gold. Now it's a problem. EVEP can get it away from the well , but there aren't many end users paying up for it.

    So while I'm pleased at this week's price action, I don't see it continuing too far for too long until some of these problems get solved. Oil window can work. But it's not going to do much for EVEP this year or next

  • artist_formerly_known_as_pooch by artist_formerly_known_as_pooch Apr 19, 2014 8:55 AM Flag

    On the Nasdaq site, the reported short interest for COG as of 3/31 was 15 million shares, by far the highest it has been in the past year and up 4 million from 2 weeks previous. Probably a good bet that's where a lot of our buy interest came from this week.

  • artist_formerly_known_as_pooch artist_formerly_known_as_pooch Apr 15, 2014 11:11 AM Flag

    The stock is AAPL's M&A currency. Shore up the stock price with available cash and move forward. Using Cash for M&A is counterproductive. Makes for a taxable event for the seller, no advantage for AAPL

  • artist_formerly_known_as_pooch by artist_formerly_known_as_pooch Apr 15, 2014 10:50 AM Flag

    Max out the buyback into a 12-1 split beginning H2 2014. Announce a 50 billion buyback availability based on financial metrics (similar to BRKB buyback program). Increase dividend 10% over last year.

    Aquisitions are best for both parties done with stock anyways. Cash can better be used investing in the stock. Spend the stock when M&A makes sense.

  • artist_formerly_known_as_pooch by artist_formerly_known_as_pooch Mar 31, 2014 8:49 AM Flag

    nice to see that after some gains last week, we have buying before the market opens

  • Reply to

    Upgrades sooner or later

    by artist_formerly_known_as_pooch Mar 28, 2014 11:53 AM
    artist_formerly_known_as_pooch artist_formerly_known_as_pooch Mar 28, 2014 12:08 PM Flag

    Also, probably a lot of recent activity are from funds wanting this off their books for end of quarter window dressing. Who wants to be seen holding a stock that lost 20% or more. Buying coming back in as long term value is seen. Also, seen as a rebound play. Recovering half it's recent losses would make for a nice gain if bought here.

  • artist_formerly_known_as_pooch by artist_formerly_known_as_pooch Mar 28, 2014 11:53 AM Flag

    Sooner or later there will be upgrades based solely on valuation. A $39 price target would be a strong buy at 20% upside from here. That's still significantly less than the 52 week high. I'm not proposing that we'll get there anytime soon, just pointing out that an upgrade at this level wouldn't have analysts sticking their necks out.

  • Reply to

    Interesting bottom attempt

    by pcknupstix Mar 26, 2014 11:04 AM
    artist_formerly_known_as_pooch artist_formerly_known_as_pooch Mar 26, 2014 12:54 PM Flag

    when it went under 32, I started to enter the order, got distracted by a phone call and by the time I was done was looking at a 32.22 ASK. So the intent was 31.90 but the execution was $32.20

    In any event I'm full up now. wasn't going to buy more but the bottom dropping out this morning suggested capitulation to me.

  • artist_formerly_known_as_pooch by artist_formerly_known_as_pooch Mar 25, 2014 1:26 PM Flag

    (( COG is at an Oil and Gas investor conference this morning )))

    (Reuters) - Cabot Oil & Gas Corp plans to accelerate share buybacks due to what it considers the depressed levels of its stock, its chief executive officer said on Tuesday.

    Shares of Cabot are down 9 percent in the past six months due in part to concern about the company's inability to transport some natural gas out of Pennsylvania's Marcellus shale formation. As a result, it must sell the fuel at below market rates.

    "We think the price Cabot is at right now is beat up a bit and we will be in the market shortly," CEO Dan Dinges said at the Howard Weil energy conference in New Orleans.

    The company has roughly 417.3 million shares outstanding. (Reporting by Ernest Scheyder; Editing by Jeffrey Benkoe)

  • Reply to

    Another "solid" day for EVEP

    by jdt1313 Mar 17, 2014 10:40 AM
    artist_formerly_known_as_pooch artist_formerly_known_as_pooch Mar 19, 2014 6:46 AM Flag

    And one final point of emphasis-- I brought up the expectations of 50% -100% distribution increase, look where we are now in terms of distribution. 2 years later, less than 1 c increase and the discussion is now about being focused on COVERING 1.0x that distribution and there are murmurs (still unfounded at this point) about a cut to the distribution.
    Investor expectation played no role at all in EVEP not covering it;'s distribution That's 100% walker/Houser/Mercer.
    I believe the distribution is secure for now, but the distribution cut storyline becomes fair game when multiple sub 1.0x quarters appear. If EVEP performed above 1.0x any distribution cut discussion would be ignored as ridiculous. Walker/Houser/Mercer created that storyline, not anyone here

  • Reply to

    Another "solid" day for EVEP

    by jdt1313 Mar 17, 2014 10:40 AM
    artist_formerly_known_as_pooch artist_formerly_known_as_pooch Mar 19, 2014 6:13 AM Flag

    I agree--I don't blame management for unrealistic expectations here and in the analyst community (Ethan) but managment did, on a conference call, float the idea that Utica sales could increase the distribution 50% within a year and when one analyst floated the idea of doubling it, you could see the wink and the nod through the phone. Now, fine, we disregard the wink and the nod part, but increasing the distribution 1/2 cent over 2 years is nowhere within a million miles of doubling it in a year. That's management. Walker stomped his feet over deal by year end even when John Leguizamo posed the infamous "53 days til the end of the year" question. That's all managment.
    So I fault managment on botching the deal
    I fault management for pushing the year end theme for FAR FAR too long
    I fault managment for floating the 50% distribution increase and allowing it to persist even beyond the "year end" fiasco.
    I fault us for believing what was patently absurd and perpetuating Walker's KoolAid.

    Walker isn't a Genius. Walker isn't unit holder friendly. Walker is the run of the mill dirtwarter MLP CEO/Former CEO. He struck gold once and believed his own press. Unfortunately so did we

    I' still holding a reduce position. I'm not seeing a lot of reason to pile back in right now. 8% income is good. But there are other plays for capital appreciation right now.

  • Reply to

    What is going on here???

    by johnlaw0077 Mar 17, 2014 12:15 PM
    artist_formerly_known_as_pooch artist_formerly_known_as_pooch Mar 17, 2014 12:23 PM Flag

    I need you guys to start buying here. My $37 cost basis is starting to feel real heavy.

  • artist_formerly_known_as_pooch artist_formerly_known_as_pooch Mar 3, 2014 6:46 PM Flag

    The Chesapeake well will be turned on this summer and the Halcon well is already in production. The initial production rates are "encouraging, said EV Energy Partners president and CEO Mark Houser.

    The two wells were backed financially by EnerVest Ltd.

    Pittsburgh-based EQT Corp. intends to follow up its 2013 volatile oil well with an additional 21 wells to be drilled in 2014, he said. "This is certainly encouraging," he said.

    His company will be working with EQT Corp. as it proceeds to drill in the oil window, he said. "We will closely monitor their activity and results and apply learnings to our own activity," he said.

    EQT has drilled three wells with limited results in Ohio’s Guernsey County. But it intends to seek the oil with the 21 new wells in that county.

    Houser’s company still wants to form a joint venture with another company to drill eight to 10 wells in the volatile oil window in Stark and Tuscarawas counties as pilot project.

    Chesapeake, with whom EV Energy Partners has teamed up to drill in 10 counties in eastern Ohio, is also eying the oil window, Houser said.

    That partnership that also involves the French company Total has drilled 371 wells in Carroll and surrounding counties. Another 180 wells are planned in 2014.

    EV Energy Partners has about 81,000 acres in the volatile oil window. It has been busy on hydraulic fracturing studies and reservoir stimulus modeling as ways to boost oil production.

  • artist_formerly_known_as_pooch by artist_formerly_known_as_pooch Mar 3, 2014 6:46 PM Flag

    By Bob Downing Published: March 3, 2014

    Drillers in Ohio’s Utica shale are increasingly interested in drilling in what’s been called the volatile oil window.

    EV Energy Partners on Monday said it expects to participate financially in at least eight to 10 wells in the volatile oil window in 2014.

    It says it intends to drill at least two volatile oil wells later this year, along with privately held EnerVest Ltd., its parent company.

    Efforts to tap that oil in eastern Ohio have not been successful but new plans are being developed.

    Most Ohio drilling has been to the east in an area generally called the wet gas window because drillers have been able to get natural gas, condensate or oil and natural gas liquids including ethane, butane and propane.

    The volatile oil window covers all of parts of Portage, Stark, Trumbull, Tuscarawas, Holmes, Coshocton, Guernsey, Muskingum, Perry, Morgan, Athens, Vinton and Hocking counties.

    Two of those volatile oil wells have been drilled with one already in production, said company executive chairman John Walker in a conference call with financial analysts.

    One was drilled with Oklahoma-based Chesapeake Energy Corp. and the other with Texas-based Halcon Resources.

  • artist_formerly_known_as_pooch by artist_formerly_known_as_pooch Mar 3, 2014 6:43 PM Flag

    By Bob Downing Published: March 3, 2014

    Texas-based Halcon Resources has suspended drilling operations in the Utica shale in eastern Ohio and western Pennsylvania.

    The suspension was confirmed today in an email from the company.

    Halcon Resources currently has no rigs running in the Utica shale, said spokesman Jordan Beadling in Houston.

    He said the company currently has a well flowing back and a well resting, and it is waiting on results from these two wells.

    "At this time, we do not plan to move in any rigs this year," he said.

    The company has three producing wells in Trumbull County, where one additional wels has been drilled, one well is being drilled and three have been permitted.

    In Mahoning County, it has one producing Utica well with two additional wells permitted.

    It also has drilled Utica wells in western Pennsylvania in Mercer, Venango and Crawford counties.

    It has leased about 139,000 acres in Ohio and Pennsylvania.

  • artist_formerly_known_as_pooch by artist_formerly_known_as_pooch Mar 3, 2014 9:16 AM Flag

    I hate to say it, but these guys cannot get out of their own way. 3 years ago they (and we) were speculating on whether the distribution would go up 50% or double. Now they are talking about being focused on getting the distribution over 1.0x. Looking at this afternoon;'s presentation, again they are flat on guidance unless they sell acreage. So again, frozen in place waiting for the big deal.

    They also have a "differential" problem as all other Marcellus/Utica producers have. They don't get the NYMEX price you see on TV. They get less. If someone buys the acreage--they will too

EVEP
37.90-0.35(-0.92%)Jul 24 4:00 PMEDT

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