Constellation Energy Partners (CEP -15.9%) plunges after warning that legal costs related to its defense against litigation by PostRock Energy (PSTR -2.4%) may have a material effect on available cash, which could impact its ability to make distributions.
CEP says the allegations contained in PSTR's lawsuit are without merit, and it will vigorously defend itself against the claims raised.
Constellation Energy Partners (CEP +7.2%) plans to sell its Alabama assets of 500-plus operating natural gas wells in the Robinsons Bend Field plus related leasehold interests and infrastructure. CEP anticipates net proceeds received in the transaction will be used to reduce debt.
: i lightended up quite a bit around time of post, im waiting this out. I also sold some of $SN position as well, waiting for the 8Moffering
SPP vs. ETF Alternatives
Sanchez Production Partners LLC Sanchez Production Partners LLC is focused on the acquisition, development and production of oil and natural gas properties (E&P properties) as well as related midstream assets.