You're not naive. You have common sense. The only change that will be made to the distribution will probably take place a couple of years from now, when they eventually increase it. I really don't see anything to worry about with the redetermination meeting. It probably be positive - the bank will work with the Partnership and everybody will be fine.
I believe the bottom is in for oil. Yes, I'm aware of the crude stock buildup as of recent days. There's no question that we still have a temporary glut. However, looking forward, the market appears to have priced in the beginning of future production declines. If this goes back down to $8, or $7 ($7 seems doubtful), it will once again be a unique opportunity for those seeking to capture a superior dividend yield.
I don't forsee any suspension of the dividend. With oil remaining over $40, and with a favorable borrowing base reassessment in April (which I believe will happen), it will be no problem at all for this MLP to continue its payments to unitholders.
If oil bounces back above $50 and remains there for a while, this is actually very positive. I'm pretty amazed at the upside potential here.
Bought in for the first time at $4.75 a few days ago. Looks like the current dividend of 0.08333/month is stable for the next couple of years at least. If oil comes back to $60.00 and stabilizes by the end of this year, that would be excellent.
Will enjoy collecting the income in the meantime. Anyone else impressed at how nice & stable the yield is here?
Glad to have scooped up some at that price. Intending to keep this long-term. Eventually (and I emphasize "eventually"), this could be a nice income supplement for someone's portfolio. Not to mention that the price could very easily double from here, once the oil market stabilizes around $60. That'll take some time, though - I have no delusions about that.