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Albert Alfonso  

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  • BreitBurn Energy Partners declares $0.04166 dividend [View news story]
    BBEP already cut its dividend for the second time earlier this year. They were ahead of the curve...
    Jul 31, 2015. 03:49 PM | 4 Likes Like |Link to Comment
  • Memorial Production Partners Now Yields 20% [View article]
    Even names like COP and CVX are down big, 5 to 6% yields on those blue-chips. This selloff is massive.
    Jul 31, 2015. 03:48 PM | Likes Like |Link to Comment
  • ConocoPhillips -3.3% as dividend gets scrutiny out of earnings [View news story]
    No, COP will not cut.

    They have a plan to reach Cash flow parity by 2017. Barron's blog leaves that part out for some reason. What a hatchet job.
    Jul 31, 2015. 03:46 PM | 20 Likes Like |Link to Comment
  • Linn Energy: Say Goodbye To The Distribution [View article]
    Chancer,

    Only a tad premature. This is a 99.9% chance. Maybe they could keep the distribution if oil sees a dramatic recovery.

    I agree on the secondary. To think that so many investors bought in assuming the distribution would be kept. That was a dishonest move at best.

    In addition, with no distribution to pay, LINE is now free to issue more shares or sell producing assets to pay down debt. If interest expenses were dropped to zero, they could potentially turn FCF positive even without hedges.
    Jul 31, 2015. 02:44 PM | Likes Like |Link to Comment
  • Linn Energy: Say Goodbye To The Distribution [View article]
    Mark_A,

    I just checked the CC transcript. LINE has yet to close the Permian asset sale. So no, that cash was not used for the senior notes purchases.
    Jul 30, 2015. 09:18 PM | 1 Like Like |Link to Comment
  • Linn Energy: Say Goodbye To The Distribution [View article]
    Mark_A,

    Money is fungible. The stated reason for the cut was to use the savings to buy up the discounted senior notes.
    Jul 30, 2015. 08:55 PM | Likes Like |Link to Comment
  • Linn Energy: Say Goodbye To The Distribution [View article]
    Pablomike,

    Likely from the credit facility. This will eventually be paid off from savings from the distribution.
    Jul 30, 2015. 08:07 PM | 2 Likes Like |Link to Comment
  • Linn Energy: Say Goodbye To The Distribution [View article]
    Ted Fischer,

    Assuming LINE does not issue for equity, these transactions are by definition accretive. Nevertheless, the unit price no longer has a floor.
    Jul 30, 2015. 03:33 PM | 2 Likes Like |Link to Comment
  • Linn Energy: Say Goodbye To The Distribution [View article]
    smlaker,

    Wow, I am getting called both too negative and a pumper. For this piece, the tone was merited. LINE did the unthinkable. They have really not done their unitholders any favors here.
    Jul 30, 2015. 03:31 PM | 6 Likes Like |Link to Comment
  • Linn Energy: Say Goodbye To The Distribution [View article]
    RLP,

    most likely they tapped the revolver. We wont see the exact numbers till the Q3 2015 report.
    Jul 30, 2015. 03:28 PM | 1 Like Like |Link to Comment
  • Linn Energy: Say Goodbye To The Distribution [View article]
    Ted Waller,

    No, not even close. LINE's own guidance had them at a DCF shortfall even with the cut. MEMP has them at 1.00x for 2015.
    Jul 30, 2015. 03:27 PM | 1 Like Like |Link to Comment
  • Linn Energy: Say Goodbye To The Distribution [View article]
    RLP,

    I agree. This really should be a bigger deal. However, this detail will be lost in the debate over the dividend suspension.
    Jul 30, 2015. 03:23 PM | Likes Like |Link to Comment
  • Linn Energy: Say Goodbye To The Distribution [View article]
    Ted Waller,

    I think those invested in MEMP know they need to cut in 2016 if price do not recover.
    Jul 30, 2015. 12:25 PM | Likes Like |Link to Comment
  • Linn Energy: Say Goodbye To The Distribution [View article]
    kennethfine,

    Sorry, that article was right in the direction, wrong in the analysis. The big claim, which is 100% false, is that LINN needed to issue equity/debt to pay its distribution, in essence a ponzi scheme. However, LINN actually pays its distribution out of operating cash flows, which are directly based on commodity prices. With oil down 50%, natural gas down 40%, and NGLS down 60%, these are the real reasons.
    Jul 30, 2015. 11:25 AM | 22 Likes Like |Link to Comment
  • Linn Energy: Say Goodbye To The Distribution [View article]
    gawilley,

    What is worse is that LINE cut the dividend in half earlier this year and was still not able to cover. This smells like a move forced by the lender group.
    Jul 30, 2015. 11:08 AM | 20 Likes Like |Link to Comment
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