Not really. If they are talking 2014 production distribution, then they have only paid four months of the 2014 distribution not six. Not a huge difference, but it does give them some leeway. I personally am disappointed that they did not increase last month.
It will only raise as it starts to cover its distribution. They have not made up any ground as last q's coverage was still at only 77%. As I have stated before, this is a three year project and how the Utica helps them cover or increase their distribution by the end of 2016 will tell where this is going. Hard to predict right now as little progress has been made. Certainly the increased revenues from the midstream will help, but will it help enough. Hanging on to my shares, average cost of 25.87 until the end of 2016 and see what it looks like then.
Whine all you want. I started investing on 3/9/09. All the E&P mlp's I invested in have performed approximately the same. I guess all their managements suck.
Yes the ROI of a wet Utica well, but lets leave out the oil prone section that everyone was so high on and so far a dud. That's what im talking about. I doubt that the wet gas section alone will make it better the Eagle Ford. Hey, I hope it does, im long EVEP. As to the +-$25/ unit, its pretty simple take .77%(current distribution coverage) times EVEP's distribution and divide by 10 to 11% and you get that area. Any E&P MLP is worth the distribution it can reasonably cover at the rate of 10 to 11%. Certainly seems to be what every E&P MLP pays.
You truly are an idiot. EVEP was never worth more than $30. Only rampant speculation about the Utica drove EVEP beyond that. While management certainly has not handled the Utica acreage sale well, it isn't their fault that the Utica hasn't turned out to the next Eagle Ford. And to quote analyst expectations is ludicrous. If it wasn't for the Utica hype still imbedded in EVEP's price, we would be at +- $25. But hey, lets blast management a million times because speculation drove the price to $78.
There is rampant speculation that you are a total idiot, does that make it true?
Only if you didn't read yesterdays announcement. Per the announcement on 5/7/14 "approximately half of the proceeds of the sale will go to pay down debt and the other half will be used to purchase assets in the gulf of Mexico". FCX will reduce debt by 6 - 8B by the end of 2016. They will also sell some mining assets this year with those proceeds to go to debt reduction.
No way. Apache was trying to exit the deep-water. FCX will do their own exploration or sell a piece to someone else to operate (only in leases that are not near to Holstein, Horn Mountain and Marlin) on a prospect by prospect basis. Anadarko operates both Lucius an Heidelberg and is certainly a great company they could go with.
Everyone knows that splits don't create value, but I enjoy owning those companies who do split as they are seriously out performing the market. So give lawman a break!!!
I agree. The Utica was deemed to be the next Eagle Ford. If it actually became that, then those expectations would have been realistic. Once it became obvious that it wasn't the next Eagle Ford they should have been more proactive in letting everyone know that those expectations were not realistic. My biggest criticism is that they wasted so much time trying to trade the acreage for producing properties. That rarely works. Then they took forever to evaluate offers they did receive. By that time it was obvious that the oil and volatile oil acreage where of questionable worth. Its easy to criticize with hindsight (myself included). They tried to do their fiduciary duty and took way too much time in the process, which really blew everything to heck.
Not saying management has done a good job. Yesterday EVEP was up until the very second you posted your same old moronic postings. EVEP was never worth more than $40. One thing I don't blame management for is the unrealistic unit price that speculation drove it to. AAPL went to $700 and then down to $400. I'm sure that was poor management too. Jeez get over it, EVEP will probably never be worth $70 per unit. Ten million posts about bad and overpaid management isn't going to change that.
I don't know where you bought in, I bought at $9.08 and sold the April covered call for $.25. If I do that every two months, that's a nice 16.5% return. Better than selling for a loss. Of course if you bought in over $10, that might not work well.
While they did not discuss the distribution, there is no reason to cut it now, even though they probably should. If nothing else, the increase in dcf from the midstream assets should have them covering the distribution sometime in 2015. Cutting the distribution would only make the unit price tank more, so I doubt it is in the cards.