Alex Hardman

Chesapeake Granite Wash Trust Still Overvalued

Summary

The Trust has numerous issues that greatly increase the risk that isn't properly compensated for at current prices. The Trust is currently at least 24% overvalued, and possibly more if investors adjust their desired rate of return from the initially targeted rate of return. Investors are basically playing the BTU spread convergence (1 barrel of oil = 6 mmbtu of nat...

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