I thought MEMP management is asserting that with current hedge book and at current
oil prices that the divvy can be maintained in 2016 ?
They did not follow through on the $200m they announced and did not discuss
it in their release. They also never speak in per share amounts-they hype growth
comps without per share - they either are not very adept at communications or
a little too cute for me
If you are into non-GAAP and adjusted ebitda numbers this is your company
It's all about earnings before bad stuff
Sentiment: Strong Sell
Why couldn't they be clearer about their intentions then you would not have to "suspect"
what the intentions were/are
I have been in Exec position at public co-not fully communicating is communicating-be cautious
The fact that they do not communicate in PR narrative per unit amounts borders on Carny-barking
Growth in distributable cash flow per unit vs just growth in distributable cash flow would be much
clearer and more meaningful
I know you can hunt down the numbers but if management wants to keep it real they should communicate
on per unit basis-tossing out growth metrics w/o giving effect to increase share count etc. is awkward
and perhaps a reflection of character
I also find it troubling that they only did 20% of announced buyback program and are not clear on future
It all seems good but be careful, if things are not going so well I expect it will be hard to understand
Seen it before
Knowing they will be able to-believing maybe but knowing nothing
Can they control global oil prices
You are no investor-perhaps a conspiracy whacko with no real understanding of the market
So you paid too much I like my chances of getting a good return with a $4
cost basis If you expect PGH management to control global oil prices you
might need to consider alternatives
What basis do you have for suggesting 17-18 cap
Underlying value much greater if oil averages $75 post 2016
They are putting for sale sign in the ground. Perhaps there is a strategic that will outbid the $12.
They could not have taken the Starboard offer without trolling for a better deal. Chum in the water.
$12 is the bottom. My guess 13.50 to 14-6months to announcement