Casey Hoerth
Long only, long-term horizon, growth at reasonable price, dividend investing

Memorial Production Partners: 9.9% Yield, Good But Expensive

Memorial Production Partners (NASDAQ:MEMP) is a Master Limited Partnership (MLP) that acquires and exploits oil and natural gas properties in the US. It was created by Memorial Resource Development, a privately held company started by private equity firm Natural Gas Partners. Memorial Production Partners' proved reserves are approximately 609 Billion Cubic Feet Equivalent (Bcfe), of which 62% is natural gas: It is gassy. The partnership's core properties are in East Texas and North Louisiana, with recently acquired acreage in the Permian, the Rocky Mountains and California. As with most upstream MLPs, Memorial's strategy is to acquire mature assets in the US which require little infrastructure investment. These properties have long lives and low decline. The partnership then hedges...

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