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Enterprise Products Partners L.P. Message Board

doogoo1 604 posts  |  Last Activity: Nov 25, 2015 3:02 PM Member since: Oct 12, 2001
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  • Reply to

    There's nothing wrong with KMI's business

    by not_totally_gray Nov 20, 2015 6:12 PM
    doogoo1 doogoo1 Nov 25, 2015 3:02 PM Flag

    No disrespect inferred... the question is does a pipe have a life expectancy..... clearly it does... so it begs the question how many times can you roll over 30-40 yr debt without paying down a dime of principal

    Just another hazard of never paying any debt down... there has to be a day where the piper has to be paid

  • Reply to

    There's nothing wrong with KMI's business

    by not_totally_gray Nov 20, 2015 6:12 PM
    doogoo1 doogoo1 Nov 25, 2015 12:59 PM Flag

    Which only means that they have surpassed their life expectancy.... which means that they need substantial maintenance.... which makes the ability to borrow against them for another 30 years a very risky venture

    Or will you tell me the life expectancy of the pipe is not a consideration for bond holders

  • Reply to

    There's nothing wrong with KMI's business

    by not_totally_gray Nov 20, 2015 6:12 PM
    doogoo1 doogoo1 Nov 25, 2015 12:49 AM Flag

    Interesting... All reliable industry sources put the life expectancy of a pipeline at about 33 years

    Just wondering how one rolls 30 yr debt on those assets....

    Red flag in there somewhere

  • Reply to

    winter is here

    by hoosierbill1234 Nov 23, 2015 2:18 PM
    doogoo1 doogoo1 Nov 25, 2015 12:42 AM Flag

    Wish I could give you a link... But Yahoo does not post them....

    However lng world news has reported that KMI has ordered 4 lng tankers

    Subsequent articles posted report them as lng fuel ready

    its wonderful that you proclaim to have every bit of knowledge printed by every known reliable source....

    Was womdering if you are in the camp of rooting for WWIII that gave the energy sector its little spike today ๐Ÿ˜ˆ

    You've not jumped into those cost of capital threads... What say you on that front.... Can KMI roll debt at this time at better rates that the epiiring debt?.... If the answer is yes... And the bond mkt is available to them at fantastic rates.... Why the the convertible?

    KMI-PA trading -10% in less than a month.... If cheap capital is available why would that be?

    I need to be schooled as to why the market is wrong

  • Reply to

    winter is here

    by hoosierbill1234 Nov 23, 2015 2:18 PM
    doogoo1 doogoo1 Nov 24, 2015 2:29 PM Flag

    KMI is currently building 4 lng tankers... the first of which is due for delivery in Nov of 2016 I think

  • Will they agree to cut production with other OPEC members as they implied today..

    OPEC makes a real cut and we will see $60 oil in relatively short order

    on the other hand IF no agreement is reached the pain will be significant

    and then there is the Nat Gas situ.......

  • Reply to

    Nat Gas is being destroyed today

    by doogoo1 Nov 20, 2015 10:04 AM
    doogoo1 doogoo1 Nov 20, 2015 10:30 AM Flag

    everybody talks of small frackers going under and the ability to deal with it....

    BIG frackers are being destroyed this week

  • No further comment necessary

  • doogoo1 doogoo1 Nov 19, 2015 5:59 PM Flag

    Wiz.... Your last two posts are rants that are worthy of me;)

    And I ony wish that I could have spelled it out with the eloquence that you did

    Arguing with some of these guys is like argunig about which came first... The chicken or the egg.... They start talkin bout turkey.... And some of the will bring up pheasant

  • doogoo1 doogoo1 Nov 19, 2015 5:08 PM Flag

    Phil... look again... the numbers you love so dearly do not include the EXPANSION Cap Ex necessary to fund the backlog that is necessary to increase the dividend

    No projects no dividend growth.... suspend dividend growth and you can fund your projects... and grow your dividend in the future

    And projects that are funded by equity (which is currently unavailable) do not increase debt... they increase dividend cost

    You should be so lucky that the 4-5% debt markets were open to KMI to fund its projects.... and dont spin it... IF the debt markets were available... why do a 10% clusterF convertible..

    again... where does the next round of financing come from... how onerous are those terms... and is the short term dividend growth a higher priority than the long term growth and health of the company

  • Reply to

    Lt Gov Pete Kinder

    by thewzrdaz Nov 19, 2015 8:47 AM
    doogoo1 doogoo1 Nov 19, 2015 5:00 PM Flag

    I think that most are not terrorists... I just dont like the math when Obama says 10K year... and Hillary says 65K

    at a 1% rate... 10K is 100 terrorists... 65K is 650.... we just saw 8 terrorists kill about 130....

    So using those parameters.... at a 1% terrorist rate Obama lets in 100 that kill 1250 innocents... Hillary causes the deaths of 11,375.... at just a 1% rate.... should we bother to consider the ISIS rhetoric that they are sending thousands mixed in with the refugees?

  • doogoo1 doogoo1 Nov 19, 2015 4:52 PM Flag

    yet KMI blames some of the weakness in the most recent Q on a customer (producer/fracker) going belly up

    and consumers do not pay the transportation from well to storage...

    They pay the costs from storage to end user but transport remains a huge burden on the producers

  • Reply to

    KMI=Liquidity Trap=Death Spiral=Going Lower

    by thewzrdaz Nov 19, 2015 4:00 PM
    doogoo1 doogoo1 Nov 19, 2015 4:47 PM Flag

    I take offense to that... even you have agreed that I am the LUNATIC here...

    Problem is..... even you agree with some of my rants

  • doogoo1 doogoo1 Nov 19, 2015 4:45 PM Flag

    EP.....I dont contend that an "expansion" cap ex cut (phil cant comprehend the difference between maintenance and expansion).... is the last straw... just more murky water (lets remember that the backlog is over $20 Billion that is supposed to come on line by/thru 2020.... so $4-$5 Billion/yr to be more accurate.... and it does not include any brilliant ideas that may come up in that time frame.... other projects/acquisitions)

    Phil also contends that the balance sheet is healthy... I say not so... companies that have healthy balance sheets do not need a convertible preferred... debt and common equity markets are open to them

    The hard core Kool aid drinkers cant comprehend that there needs to be a pause in the GROWTH of the divi to strengthen the balance sheet.... this would not be a negative... all options to fund expansion would reemerge in the short term...... and would be viewed as a BIG time catalyst to close short positions immediately

    The issue that overhangs the stock today is no longer the recent convertible... its where does the next round come from and how onerous will the terms be IF the stock isnt significantly above $32

    Its a fluid situation and I'm willing to change my tune at a moments notice.... I'm just not seeing that moment on the near term horizon

  • doogoo1 doogoo1 Nov 19, 2015 3:03 PM Flag

    larry..... usually when something is broken... some sort of pro active action is necessary.... when you car breaks... you call a mechanic.... you get sick..... most times you need a doctor... and this is not the common cold KMI is suffering from...

    We also have to circle back to Obama... which means that I am talking about US energy policy and Iran.... these are virus' that will continue to be a drag on energy commodities

  • doogoo1 doogoo1 Nov 19, 2015 2:58 PM Flag

    $5 Billion is the current rate at which KMI is "investing" on a yearly basis in ca ex...

    IF you disagree with that than tell me where $3.85 B in cash from common issuance in 2015.... $3 Billion is debt issuance... and $1.5 Billion in preferred issuance went (BTW thats about $8.35 Billion)

    The big time detractors say that that money went to dividends... I'm saying cap ex... now you say it aint so.... a Yogi ism would make more sense off the tongue that your posts

  • doogoo1 doogoo1 Nov 19, 2015 2:48 PM Flag

    You are disingenuous.... he starts off mentioning NE... when the NE rejection is in the news... he mentions Trans Mountain... and links it to Keystone...

    Why dont we focus on IF the Trans Mountain expansion is in KMi interests with the current cost of capital and the FACT that the existing Trans Mountain is not operating at 100%

    Is it a good idea to build a pipe for $5 billion @ 10% or more rates... when the current environment has the existing pipe at less than 100%

    What does more than doubling the pipe capacity do if oil stays in the $40s or below... wouldn't that lead to a situation where neither pipe is getting the max rate (wanted to say FERC but its Canada IDK the name there)?

  • doogoo1 doogoo1 Nov 19, 2015 2:36 PM Flag

    You have to keep it up... lex implied the report made KMI worth more... thats the discussion... tell me how that report.... that you take issue with.... increased the value of every mile of KMI pipe

  • Reply to

    Any chance to close above $24?

    by martc1 Nov 16, 2015 1:56 PM
    doogoo1 doogoo1 Nov 19, 2015 2:30 PM Flag

    Phil... you may be in luck because as the price continue to drop it keeps KMI below your 20% threshold

    And BTW... by holding the divi that reduces the need for financing...

    where do you think the next round of financing comes from with the stock below $24

  • Reply to

    Any chance to close above $24?

    by martc1 Nov 16, 2015 1:56 PM
    doogoo1 doogoo1 Nov 19, 2015 2:25 PM Flag

    The recent preferred is already ancient history... its the anticipation of the next one that is strangling the stock

    2nd half 2016 is much closer than many think... and for those who tout how long they have been playing the markets... they know how true that is

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