You are totally forgetting imports and exports and other factors.
"I don't know about oil inventory"
That's pretty clear, however it hasn't prevented you making a fool of yourself spamming the boards for the last week, like nothing like a winter storm has ever happened in human history before. You sound totally desperate.
You are making yourself look ridiculous.
Do you think there were never winter storms before?
What was the lasting impact on oil prices, as a result?
Not aware of any? I thought so.
And what about the well shut ins that many producers are reporting.
The lower production won't result in a potential bigger inventory draw?
You are sounding totally desperate, like you need a huge price drop and fast to aoid margin call or something.
Right, and we never had cold in previous winters?
Did the bottom drop out of the oil market then?
How about putting your brain in gear instead of insulting others.
As has been pointed out, a lot of producers are reporting well shut ins due to severe weather, so there is equal chance that the weather is resulting in a bigger draw. I don't know what the net effect of lower production and possible lower demand will be, so I'm not spamming the boards about it like you. But whatever the impact, it is temporary, happens most winters and is not important in the big picture. Just shows how desperate you are that you attach so much importance to something that happens most years (cold weather) with no lasting impact.
SJT is 99% NG, produces hardly any oil.
"Oklahoma-based Laredo Petroleum also said that weather conditions "continue to materially impact operations".
"Laredo’s operations were impacted by widespread power outages, reduced access to production and drilling facilities, curtailed trucking services as well as drilling and completion delays," the company said on Thursday.
Quarterly production will be below guidance, but Laredo was not yet able to give an estimate about how much production would be affected. It said more than 50% of the company's wells remain shut-in, while "production of many operating wells has been curtailed due to facilities constraints".
"Assessing the impact of the storm could take several weeks as the bulk of Laredo’s operations are in rural, less populated areas that offer operational advantages but are among the last to have electrical service restored," it said in a statement. "
"Operators in the Permian continued to disclose production and development stoppages caused by severe winter weather in West Texas last week, as the region faces another few days of frigid temperatures.
Mississippi-based Callon Petroleum was the latest company to report operational impacts from the weather. Callon said it experienced about five days of production downtime last week at its key producing fields last week due to electricity outages.
"In addition, near-term production levels may be impacted by an extended curtailment of trucking capacity used for offtake and the effects of another storm currently in the Permian basin," it said in a statement. "
Funny, how some people call others stupid and then follow with a statement proving immediately they have no idea what they are talking about.
"Permian operators Pioneer Natural Resources, Energen Resources, and smaller operators Laredo Petroleum and Legacy Resources have all reported impacts from Cleon, although currently not quantified, to their Q4 production.
Pioneer, echoing some of the other companies, said the severe weather “significantly” affected its production and drilling operations. These impacts were mainly felt in three operations: the Spraberry/Wolfcamp horizons in the Permian, South Texas’ Eagle Ford Shale and North Texas Barnett Shale combo plays. The company’s Spraberry/Wolfcamp operation, in the eastern Permian, “has been especially hard hit as heavy icing and low temperatures have resulted in extensive power outages, facilities freeze-ups, trucking curtailments and limited access to production and drilling facilities,” Pioneer said in a November 27 press release.
The company said an “extensive” recovery period is expected. Both it and Energen claim it will take a few weeks to determine the full impact of the storms, and the smaller operators suggested likewise."
Current AECO (alberta) NG price is below $4. Hardly 'through the roof'.
"and LNG will be $4.50+"
and there is no North American LNG for several years so wonder how we will have a quote for it in Janauary.
So long as the muggers don't take too much, we shouldn't worry.
What about the costs to the partnerships of the legal defense and the resulting delays to the merger timelines? We also shouldn't care about that?
I do still have my position, however feel all these new structure trusts (the SD ones, CHKR, ECT) are a #$%$ shoot even when the price appears low. Expectations keep getting worse so what seems cheap now may not seem so later. PER looks like the best of the five though.
"Is there a reason why the will not resume the hedges."
As explained, it is against the rules of US royalty trusts to enter any new hedging arrangements after the trusts is created. There can be no modification to the trust including adding hedges. It is simply the regulations governing all US royalty trusts
NGLS too, along with many smaller MLPs. Unfortunately this means the the boards being retained are the ones with the high amount of garbage posting. The ones with a small volume of serious posts are being taken down. Garbage wins again.
Haven't really paid attention because like the silly posts about no traffic, it is necessarily a temporary effect. But, yes, there can be major interruptions to production during severe cold weather and I believe there have been warnings from some producers already. As mentioned, I don't really pay much attention to short term issues like this unless it impacts companies I actually own positions in.
So maybe we should thank the silly bashers who keep posting about the price about to drop. Without them the EPD board might be gone too.
haven't seen any announcement but it appears that message boards will less than some threshold of posting activity are being shut down. I can access all the more active ones but get an error message for those boards which have not been so active. Looks like even PAA and SXL have lost their message boards.
"Have had nothing but good results so I never considered the points you are bringing up"
The price dropped almost 65% over 1 year in 2011-2012, yet you say there have been "nothing but good results". Again, wonder what planet you have been living on.
As for the recent guidance, clearly poor performance at Tres Palacios NG storage assets must be seriously weighing on the overall performance.
Including distributions the return on this has been about 40% over 2 1/2 years (I don't own it, but that's what it would be). Nothing special but your comments are just foolishness.
The price is in the same trading range it has been in for the past 2 years and up about 20% from the IPO two and a half years ago. In addition during that period it has also paid $45.. per unit in distributions meaning close to 40% return since IPO. Nothing to write home about, I agree, but hardly the disaster your lamb chops comments imply. I suppose all your investments are making far more than 40% return in 2 1/2 years?
The funny thing is that even the MLPs you say are so awful are probably delivering better return than the investments you do own, if there are any. And the Alerian index as a whole (50 MLPs) is up 5-fold over the last 5 years.
They'd be some savings due to a simpler corporate structure and the market also tends to prefer a simpler structure. I think they have already implied the long term plan would be to combine the LPs although not given any indication it is imminent. In the same way, the ETE has made clear that it plans to simplify the complicated structure there by combining RGP and ETP at some point.
"It would be unseemly for Kinder Morgan to merge the two MLPs, and in the process announce that EPB unit holders will suffer a reduction in current distributions, and KMP holders suffer no reduction in distributions, or get an increase."
Don't know about that. It happens all the time. Most recently in the RGP acquision of PVR, PVR holders suffer a decrease in distributions, in the NRGM acquisition of CMLP, CMLP holders suffered a decrease in distributions. They usually have some fancy rhetoric to explain why it's a good thing (improved growth rates, bigger and stronger company, etc).
As for your last paragraph, nobody suggested that KMI is going to deliberately sabotage EPB. However it is the case that some assets which EPB would have got from EP are now going to KMP instead and you could also argue that KMP are getting the 'better' assets. It's also true that a slowing or stalled distribution at EPB while KMP continues to grow distributions makes the conditions more favorable for KMP when the merger is eventually done (KMP price will have risen by more than EPB in the meantime so the exchange ratio will be that much worse for EPB holders)
So you could say, there is no 'sabotage' but KMP is the 'preferred' Kinder Morgan LP and it is getting better treatment than its red headed stepsister EPB.