This is a management that turned down $150 from Enterprise and sold stock @ $91..Nothing else to say except ENTRENCHMENT !!
has an interesting and positive article on Demand for storage and its rising value and highlights MMP and PAA among global Storage Companies.No mention of TLP which is as close to a pure play as any I'm aware of.
Stock price action may be suggesting an offering to Finance a 2 vessel dropdown.Glog should close on a 2 vessel acquisition from BG next week and are obligated to offer them to GLOP. They have 9 and 11 year contracts respectively.
Only a 2x..A month ago the same service was forecasting a 4x...Very disappointing !!
According to Trade press there aren't acceptable bids for the whole Company,but much interest in individual assets..Good for Debt holders...And it keeps the Company solvent for Equity holders for a longer period of time if this info is accurate.
If WLL can't get a preminum to the mid 30"s.....What are other similar shale players worth....esp.Bakken guys like CLR etc. ?? Until there's a significant transaction there isn't any frame of reference.
OK with me as I'm getting paid more each Quarter,every Quarter..If the year goes as forecast they will have raised their Distribution each and every Quarter for the past 5 years.