I only have 5500 SXE and is #3 behind AMID and EVEP followed by NGL and GLP and a couple of CA oil & gas companies in the shader. EVEP has a private supporter and sold in a timely manner its midstream assets so it won't be going BK any time soon. I bailed on MCEP because I thought the banks were treating the company rather shabbily and made unrealistic payment demands and could not afford to stay around to find out as I was aleady down more than 300K. Got out of BBEP a couple weeks before they went BK [thankfully] Sold VNR in concert and was lucky to get out of Hercules at a buck. It went to zero,too. Been a rough time since the idiots in SA decided market share was more important than cutting production and price support. SA should be given to the heathens ISIS. They deserve to drown in a cage. Ed
When SXE's partner, Southcross holdings went BK chapter 11, it scared the livin' bejesus out of most folks and SXE's pps went to .34. Scared the livin'shade out of me,too. but I, like a few other folks, bought and here we are at 2 dollars. Still speculative, but a lot better now with Holdings debt free and providing cash "cures" for a nice equity deal that is dilutive to some degree for unitholders but the SXE managers say they are doing their best to minimize the dilution. We'll see......Need for recovery of oil & gas in the Eagleford to get volumes up to improve earnings and ultimately the pps. The PE, banks,holdings and everyone else has the SXE units and need them to "flourish" so they can earn a return on their sizable investment. SXE units are the vehicle for their recovery. So all interests appear aligned. We are just patiently waiting...........Ed
2.20 is about my average buying back in after selling all at 2.30 rather clumsily I might add on one of those blow out down days. Ed.
Is there any way to get rid of dumb threads? Like this 1.55 thing? The PE's got rewarded for bailing out holdings and providing the "cure" funds so they got bargain units at 1.48. And they are accumulating if anything. The Mo-mo day tarding dummies are taking their profits and moving on to their next debacle.
I'm stayin with half my original position. Need some income now. Ed
EVEP is as fully hedged on nat gas as they can be until the end of 2017. So they an add hedges for 2018 when they choose. What more would you have them do? Ed
Well, if you are talking about abysmal pricing, at this rate and if pricing holds, there won't be a Venezuela, Nigeria and a half dozen other OPEC and Non-OPEC Countries. Or a SA. As one of the county's largest operators, I'm putting my money on EVEP. We'll talk again real soon - like in 2018. ed