Good Friday morning!!!!
A couple of things to start off this morning. First off with Teppco and Enterprise Products as they will jointly develope the Jonas project. Why don't these guys just merge and get it over with please!
In the coverage department Sander Morris( would sound better in reverse..Morris Sanders!) begins coverage on Markwest Energy (MWE) and they start it with a buy.
Crude oil is up sharply this morning $1.11 higher, telegraphed yesterday by the 20 point upide move in the XOI. Ten year yield back down to 4.56% after PPI numbers which were not great but not disastrous either. Should be another firm open for the group. The Northern Borders deal from Wednesday morning has lit a fire under these guys. Chart wise we have successfully tested the December lows.
Finally bright sunshine and mid to upper 70s today on the beach in Pompano. Gulfstream race track in my view for Sunday! Wish y'all were here!
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About Me
- joewxman
- a meteorologist with a knack for trading and investing in MLPS! I also like horse racing, enjoy cigars and a good port wine.
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3 comments:
Joe,
Catching some rays, eh? Good for you!
Check this out from the TPP board:
The following from the TPP message board re:Jonah Field expansion project and other recent moves by the GP:
An inherent responsibility of management is doing their fiduciary duty for shareholders. That means (1) negotiating good deals and (2) getting the best price on an asset sale, among a host of other things. I don't think it makes sense to run two ostensibly separate companies as if they are one when no formal merger has occurred.
I'll say it again. It is a lawsuit waiting to happen. Somebody, somewhere is going to look at the old highs and wonder if they have been, or are being, screwed.
End of Message
Just to stir things up I posted that beauty in the EPD board to see what happens.
sorry for the delayed response but its been 80 by day..and the beach water is about 70. So you can guess where i've been.
i totally agree with you...its ridiculous that these two companies are operating the way they are. Watch EPD's valuations..if their stock price goes up..then duncan's excuse for not doing a deal goes out the window.
i'll check the EPD board and keep tabs on the reaction.
There's been NO reaction at all.
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