Daniel R Moore
Portfolio strategy, bonds, oil & gas, long-term horizon

SandRidge Mississippian Trust I - Small Improvement, Under-Performance Continues

In the last reported quarter SandRidge Mississippian Trust I (NYSE:SDT) showed some signs of improvement quarter to quarter, but overall unit earnings performance of the Trust remained poor. On July 25th SDT announced its quarterly distribution for production during the time period March 2013 through May 2013. During the spring the general market showed oil prices which remained relatively high throughout and higher natural gas compared to recent trends. NGL prices improved slightly, but remained low relative to the price of crude oil.

In the context of a generally healthy market, SDT's common unit distribution of $0.61 was 20% below target. Overall earnings on a fully dilutive basis, for the 2nd quarter in a row, could not cover...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details