this feels like a decent level to add. i think the scenario priced in right now reflects pretty negative outcomes and there seem to be a lot of levers left for gst management to pull that will be regarded favorably going forward.
they should wait a few months or till oil is above $50 and sell it all. I think they were trying to be too clever with the 26k acres and buyers want production in more proved up areas. I think this still ends up with the preferred at par and the stock at $3
surprisingly dividend announcement is the minor part of it. looks like they picked up some properties which really strengthen the company and the gp just continues to be incredibly supportive.
another great move by pq management. starting with the bond swap they have done everything right. with ng strengthening i think this moves a lot higher. over a 1 would negate the need for a r/s
and the idrs are now owned by the gp which is owned by energy spectrum and tenaska? the question for the conference call is are they going to responsibly contribute some assets or invest to restructure this or do they prefer to take the endless and unwinnable litigation that is sure to come at the gp if they do not given the unconscionable treatment of the unitholders by this board thus far in my opinion only?
That would seem to be very beneficial. Will they place some new subordinated units to shore up balance sheet?
I would hope they reverse it as little as possible to meet listing requirements. Depending on where they are trading at that time maybe as little as 2 or 3 to one will suffice.
what i don't get is their distributable cash flow is by definition 100% of their distributable cash flow.
The enb commitment seemed very clearly to be supporting their dividend that was in place in the time it was announced, otherwise it makes no sense, mep will always have 100% of its present dcf, thats 1 x 1 = 1.
I think the announcement was clear, now that things are worse it seems like enb/mep are trying to redefine it through weasel wording and if they do i hope they pay a massive legal price.
this was trading over 2 about 10 days ago, prior to any certainty as to whether they would survive or how they were doing ebitda wise. now that we have much more positive clarity this should easily top 3, hopefully today or tomorrow
no chance of bk now, good ebitda number, debt lowered. i think this is going to fly. what am i missing. the fact that those with the most visibility on their numbers just put in 50 million speaks loud and clear as the business outlook
Russ just answered a question saying numerous teams have evaluated their acreage as worth 1.1 to i think 1.6 billion well in excess of their enterprise value. If thats correct buy the preferred. I just added.
Gee, maybe you might want to consider they did just under 4 million for the quarter in ebitda against a 32 million enterprise value. 2x ebitda annualized. The first half will be lower as they say but this is cheap as they come, very well managed and when the market recovers as the futures price is already this may have ebitda greater than their enterprise value, guess where the stock is going, hint, not to the 2's but to your latter number.