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Houston..we have a problem....

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Goose06
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10:27p, 8/3/15
AG
Cutting distribution to zero could mean a number of things. Need to know who owns the GP, does gp have material ownership in the lp or just idr's? Are their sub units that get buried by common accruing distributions not paid?

Cutting distribution could simply mean that management knows they won't need to access capital markets soon as mom as they delever by using excess cash flow to pay down debt.
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In reply to Furlock Bones • 10:31p, 8/3/15
Furlock Bones
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In reply to [removed post] • 10:34p, 8/3/15
AG
Seriously, are you working on your MBA?
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Furlock Bones
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In reply to Goose06 • 10:35p, 8/3/15
AG
Goose,

You are the only one asking the right questions.
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Comeby!
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In reply to Furlock Bones • 10:37p, 8/3/15
AG
quote:
Goose,

You are the only one asking the right questions.

As someone who lives it, you are right.

Cyp,
Where's a good resource on reading up on oil and gas capital markets?
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In reply to Furlock Bones • 10:38p, 8/3/15
Furlock Bones
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In reply to [removed post] • 10:39p, 8/3/15
AG
So you are an analyst? Never actually put your nuts on the line.
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10:40p, 8/3/15
Furlock Bones
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In reply to Comeby! • 10:41p, 8/3/15
AG
$100b that's the approximate number that PE has/ or will invest in the E&P sector.

What does it all mean? No one really knows but I'd wager the PE guys ain't no fools.
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Furlock Bones
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In reply to [removed post] • 10:42p, 8/3/15
AG
15 years in what
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Comeby!
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In reply to Furlock Bones • 10:42p, 8/3/15
AG
quote:
$100b that's the approximate number that PE has/ or will invest in the E&P sector.

What does it all mean? No one really knows but I'd wager the PE guys ain't no fools.

I need to assemble a management team.
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Furlock Bones
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In reply to Comeby! • 10:43p, 8/3/15
AG
No ****.
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10:43p, 8/3/15
Furlock Bones
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10:44p, 8/3/15
AG
Well the fact you say Linn has no access to capital markets is patently false for starters.
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In reply to Furlock Bones • 10:46p, 8/3/15
pfo
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10:47p, 8/3/15
AG
IMHO MLPs are great for pipelines but are bad for E&P companies. A couple years ago I looked at Linn and thankfully backed off and a few months ago I looked at Memorial and thankfully backed off too. The Memorial structure had them selling assets at top dollar into a publicly traded entity. Frankly I thought it looked awful.
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Furlock Bones
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10:47p, 8/3/15
AG
For simple seconds, they are inordinately owned by mom and pop investors who are most prone to overreaction.
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Furlock Bones
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10:49p, 8/3/15
AG
And lastly, they are getting forcefully dumped by high dividend funds.

But I'm sure you already figured that out and priced it in to your shorts like a boss
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Furlock Bones
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In reply to pfo • 10:51p, 8/3/15
AG
Yes id say your your right as an overarching theme. But I'd also point to The accretive acquisitions Linn has made according to that model. Low decline properties. They own the Hugoton basin.
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In reply to Furlock Bones • 10:52p, 8/3/15
Ragoo
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10:52p, 8/3/15
AG
Interesting conversation developing.
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Furlock Bones
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In reply to [removed post] • 10:54p, 8/3/15
AG
Yes, I said the sAme thing. I Called as much on a more realistic timeline.

You posted what you heard on Cramer hoping that a bunch of texagers would think you were important.
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Ragoo
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10:56p, 8/3/15
AG
If Linn suspended their distribution how can they continue to operate as a master limited partnership?

Asking as a noob.
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Cyp011
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10:58p, 8/3/15
AG
Comeby,

I work in the space. Generally its learned on the job. I'm not going to talk specific to LINN but it's fair to say that the Fall Redetermination will be painful for many producers as the Spring was a hall pass imo.

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Furlock Bones
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10:59p, 8/3/15
AG
Again, I'll say a senior management team circling the drain in this situation would not cut distributions to zero. They take as much as possible before it ends belly up.

But, you are also ignoring not only DrillCo but AcqCo. AcqCo is the real lifeline here.
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Cyp011
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11:01p, 8/3/15
AG
Drillco could have trouble with the required GSO return in this market. I do think it's an interesting structure nonetheless
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Furlock Bones
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In reply to Ragoo • 11:01p, 8/3/15
AG
An MLP exists to offer tax advantaged earnings to share holders. Cutting the distribution to zero was the right move for a company planning on being around in the future.
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Furlock Bones
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In reply to Cyp011 • 11:03p, 8/3/15
AG
DrillCo is a feint. AcqCo is the real offensive.
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birdman
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11:05p, 8/3/15
I have some analysis.

If you bought $100 worth of Linn Energy a month ago, it is worth about $25 today.
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Furlock Bones
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In reply to birdman • 11:06p, 8/3/15
AG
Good lord.
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11:07p, 8/3/15
Furlock Bones
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In reply to [removed post] • 11:09p, 8/3/15
AG
Which is exactly what I said
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PetroAg13
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11:12p, 8/3/15
AG
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bkag9824
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In reply to Furlock Bones • 11:15p, 8/3/15
AG
quote:
Good lord.


You & jake have effectively turned this into a "mine is bigger than yours" cat fight. The vast majority of readers/participants/lurkers have absolutely no clue what you & the other financial wiz bang super heroes are talking about.

Most folks are looking for palatable information on the industry & what's happening at the macro level.

Dumb it down for some of us, and we may take to y'all's analysis of ONE company with more enthusiasm.
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