Wonder who cares..EPS is a component of DCF but it's a derivative..DCF is the only number that's really important...
Good to see. Additional equity likely but still nicely accreative.
According to their 2015 guidance the low end barely covers the Dist..So if they had the Balance Sheet to do it they could arguably continue the current Payout. But as you point out they need liquidity to service the principle..IMO they would be smart to take the $80mm in Debt payments out of the current Dist,,,,which implies about a 50% to $0.70 reduction.Not hedging their oil and gas Acquisition was a real mistake in retrospect..
If you don't mind playing the Spot Market for LNG Tankers ....as well as risking a Div. reduction ...Go for it !!
A comment on your "value of inventory" statement.Paa doesn't take ownership of the oil but stores it for a fixed fee. It's someone elses inventory.
With one-third of U.S. rigs shutdown since early Dec.well completions will begin to fall by Mar./Apr..After that Production growth will begin to decline and then actual production..In 12 months there will be no surplus...And 12 months later there will be a shortfall relative to demand....Saudi's have gotten what they wanted !