" I WENT BEARISH ONLY THIS YEAR on the trusts and lp's. I have missed out on nothing"
Well the Alerian MLP index is up 26% YTD in 2013, so by being bearish this year, you'e missed out on at least that much. The same index is up 5-fold over the last 5 years.
Anyway, anyone can simply look at your posting history and see that you are bearish on eery security in the market and hae been for as long as you'e been posting (years). So I'd say, you'e missed out on multiplying your money many times, like those of us who hae been in MLPs for years (I hae quintupled my account oer the last 5 years and now collect $300k in distributions per year, enough to lie on if I wished).
$1 is what I wrote, isn't it?
So what is your point?
You've got the companies mixed up.
You're referring to GMLP, this is the GLNG message board.
First step in investing: Understand which company you have invested in.
For example, did you buy AAPL (Apple) or APL (Atlas Pipeline).
It's important to know.
and you expect to have any credibility when you post lies like this?
The dividend has been declared.
No wonder nobody takes you seriously.
Just a clown.
"I WENT BEARISH ONLY THIS YEAR on the trusts and lp's"
That's funny, you've been posting the doom-laden posts about them for at least 3 years.
So if you were lying then, we are supposed to believe you are not now?
We know that the wells are supposed to have a steep initial decline rate followed by a long tail at much lower production levels (relative to the initial rates). But to-date the well performance for have been extremely poor and well below expectations. So it raises the question (to me, at least) - can we even count on that long tail? Is there any chance that without further fracking, the rocks simply close up, become impermeable and so the wells stop producing anything, and this happening in the years following completion of the drilling obligation? In other words, the trusts not able to make any distributions at all after a few years? Don't know how plausible this is, but with performance of these trusts to-date (ECT, SDT, SDR, CHKR), I wouldn't rule out worst case scenarios.
Oil and gas producer Pioneer Natural Resources Co and its unit Pioneer Southwest Energy Partners said their fourth-quarter results could fall short of their expectations after a severe winter in Texas hurt production.
Pioneer Natural had said last month that a severe winter hurt production and drilling operations in the Spraberry/Wolfcamp, Eagle Ford Shale and Barnett Shale fields.
The company had forecast average production of 179,000 to 184,000 barrels of oil equivalent per day (BOEPD) for the fourth quarter ending Dec. 31. Pioneer Southwest had forecast average output of 8,700 to 9,200 BOEPD.
A harsh winter in the western United States has hampered some oil and gas production and could further crimp output in the top crude-producing states as temperatures drop further this week.
Portions of western Texas, home to the oil-and-gas rich Permian Basin shale field, will experience sleet and snow with ice forming on Thursday night, according to the National Oceanic and Atmospheric Administration.
Energen Corp and Apache Corp have also said weather conditions would hurt production.
"The Spraberry/Wolfcamp area was especially hard hit as heavy icing and low temperatures resulted in extensive power outages, facilities freeze-ups, trucking curtailments and limited access to production and drilling facilities," Pioneer Natural said in a regulatory filing on Tuesday.
check the insider transactions as shown via yahoo...
no buys at all for years (other than options grant at $0 per unit).
plenty of insider selling by half a dozen or more different officers.
Most recently they were selling at $5.45 /unit.
So company management appears to believe the current price in the low $5s is a good price for selling but they would not buy at that price.
No sign of better days coming there.
according to Transcanada announcement. The draining of Cushing begins. Seaway expansion will follow in 1H (probably Q2) 2014.
Oil begins flowing through Keystone XL's southern leg
TransCanada says it has begun moving oil into the Keystone XL pipeline’s southern leg, which runs from Oklahoma to the Texas coast, and is on schedule to begin deliveries by the end of the year.
TRP will need to fill the new pipeline system before it can begin delivering oil to refineries along the Gulf coast, and it plans to do so with ~3M barrels of oil in the coming weeks.
The line will be capable of bringing up to 700K bbl/day of oil to the coast, providing more supplies of crude to refineries.
he had wired $30k into his account for a short trade on the basis of winter weather causing a buildup in inventories and price drop. Luckily for him, I made him understand his reasoning ('oil production is not impacted by weather') was flawed and that it is the reverse which is more likely. I probably saved him a few grand on this so I hope he's man enough to express some gratitude.
For what its' worth (not much) the Platts survey is forecasting a draw of 2.8m barrels.
As fp has suggested likely the big draw will be the following (next) week.
"Patience is the key in stocks, a good company is worth the patience."
What about a bad company? One where management repeatedly sets expectations they then fail to meet, makes promises they fail to keep, brings the company to the verge of bankruptcy and lose some of their best assets in the restructuring that results, one that has the second worst performance of all MLPs over the year, the only existing MLP that cut the distribution twice in 5 years, etc.
Does a BAD company like that deserve patience too?
you could try reading the company headlines. It was announced a couple of weeks ago and the announcement is still there on the yahoo headlines page for this stock.
Why do people ask these questions on message boards without even checking the company announcements?
More money has been lost by you by being bearish on everything and missing out on MLPs market besting performance over the last 5 years (Alerian index up by a factor of 5 in the last 5 years (approximately).
Clearly, all your posts are inspired by sour grapes and envy on all the gains you've missed out on.
EROC has the second biggest price decline (might be the worst by the end of the year) of all MLPs in 2013. It has cut it's distribution twice in 5 years, almosr ran the company into bankruptcy a few years ago and as a result had to give away their crown jewel (the minerals properties), missed expectations and broken promises (they promises we'd be over $1/yr in distributions by now).
By any objective measure EROC has been among the very worst handful of MLPs in terms of both performance (total return including unit price and distributions) as well as management incompetence and lack of credibility.
Yet, despite all that, you maintain it's a great company.
Earth to vattars: it's been a catastrophe. It's a broken company. Management has run the company into the ground twice now and has no credibility left. The best thing would be for them to put the business up for sale.
On what possible basis can you keep maintaining it's a 'good company'? It can't be shareholder return because that's been a disaster (the second worst of all MLPs in 2013). Just because you own it, that makes it a great company? Is that it?
As for me slandering oil and gas companies, that is just silly. Most on these boards know that I am one of the biggest investors in MLPs on these boards. I have long positions in about 50 MLPs, (including EROC which with a zero cost basis would be too expensive to sell) and including the trusts and Canadian dividend payers long positions in about 85 of those 'oil and gas companies'. On top of which I am short puts (a bullish position) on about 55 other MLPs giving me a (long) financial interest in almost all MLPs with exception of propanes distributors, downstream product distributors, shipping MLPs and special cases.
So it's a bit silly to say I slander them when I am long or equivalent on most of them. I call it as I see it. Most of the MLPs have decent management, but you have chosen two of the worst (probably due to yield chasing). EROC is one of the MLP basket cases (second worst price decline of all MLPs in 2013) and your other favorite ECT is simply a trust in terminal decline that never lived up to initial projections and from which it will be IMPOSSIBLE for you to recover your losses even if NG rises because the trust production will continue declining. There are plenty of MLPs I write positively about, you just happened to make two terrible choices due to chasing highest yield. You have suffered big losses and that is the usual price for chasing high yield.
the poster (maybe it was you under yet another handle since there are a suspiciously large number of people interested in both ECT and EROC : oroplata, vattars and now mikecline - most likely these are all the same poster having a conversation with himself under 3 IDs)....anyway the poster suggested it can't get worse. Your answer implies you believe another market crash is impossible. Many disagree with that.
Yes, many MLPs were crushed in that crash, although few were forced to cut distributions. EROC was one of the few. Most had their unit prices crushed but the business itself continued with just a bit of a scare. EROC was one of a few (APL being another, also XTEX) which were close to bankruptcy. Most MLPs have strengthened their position since then and arguably are in a much better position to navigate a similar crash (although a seizing up of credit markets for any sustained period would stress most MLPs severely). But has EROC strengthened their position significantly? Were there to be another 2008 style crash, I'd suggest EROC's survival might be in jeopardy.
Anyway, EROC has been amount the very worst performers of all MLPs over the last couple of years. It has one of the most incompetent management of all MLPs. That is not just opinion - they have destroyed the unit price and cut distributions twice now in 5 years. Once is bad enough, but twice is a case of "fool me once, shame on you, fool me twice, shame on me". Yet, you continue to believe they are the best thing since sliced bread and that huge losses in price and missed forecasts, broken promises and slashed distributions are not a concern. Hard to make you out...are you really such a naive fool that you can't recognize what a disaster EROC management has been?
"cant get much worse at this point"
why not? A few years ago they crashed this down into the $2's.
And that was when they still had the mineral assets and there were fewer units.