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...
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