If they use the almost $2 per share savings to buy back shares, I'm ok with that. They could retire another 10% and increase coverage immensely
I have been following mlp's since 2008 and have never seen one with a significant quarterly distribution act like this one. Very strange
As good as they are now, I do wonder if they can cherry pick locations and maintain production with 200-300 rigs. Still a long way to go
They pretty much re-use their standard presentation but there is one new slide: cash interest expense per share. They state 5 cents - which makes no sense. $175M loc balance at 3+% is over $5M per year. 30M shares means over 15 cents a share interest expense
There's something of a moral obligation to cover taxes if they can. Call it an unwritten agreement with their investors
Why hold much MCEP [which I do hold some] when you can put your money into Amid, Ngl, Sxcp, Ceqp and make near 40%?
OK, even with the tax consequences that they claim, I'm a buyer of a few hundred k shares at 80 cents
Yes, it says that. But I have always been told that individuals are cash basis entities.
He stated: no upstream will do well with oil this low and the midstream pricing is irrational so he switched to mid streams figuring (rightly so) that the up streams had further to fall and the mid streams would recover first