MASTER LIMITED PARTNERSHIPS

Thursday, July 17, 2008

Rumour circulating according to Bloomberg on Semgroup Energy Partners (SEP) about an affiliate company. Still no headlines.

9 comments:

Anonymous said...: See my post.

Mr. Pipes; 7/17/2008 12:16 PM
Anonymous said...: REPOST

I have some color on SGLP. The parent company SemGroup LP has defaulted on some of its bank covenants. Being that 90% of SGLP's throughput is contracted by the parent, this is very bad for SGLP holders as the parents inability to pay for the throughput may impair SGLP's distributions and future. I own a few shares and bought a few earlier today before I got the news.

Mr. Pipes; 7/17/2008 12:19 PM
Anonymous said...: A few things to bear in mind regarding SGLP.

They own major tank assets in Cushing, which are gold.

They have a $600 mil credit line, of which there is $200 mil available.

The problems with SemGroup may allow SGLP to pick up more assets quickly and at firesale prices.

We aren't even certain what is going on with SemGroup as its private and little info is available. This is not a Cheniere situation.; 7/17/2008 12:27 PM
Anonymous said...: The market, as usual, is overreacting on SGLP.; 7/17/2008 12:28 PM
Anonymous said...: I tried to get through to SGLP's investor relations guy with no luck.

You guys can also try 918 524-7457

If anyone gets though please post.; 7/17/2008 12:37 PM
Anonymous said...: this is a tough one for the sector. there should not be that much risk in any of the companies. it seems like an overreaction, but the volatility in the sector is really alarming. i bought some SGLP on the way down and now am about even, what kept me from selling is that i have never seen an MLP go bankrupt because of fraud and the stock was trading that way.; 7/17/2008 12:37 PM
Anonymous said...: Even if there are problems with SemGroup, SGLP is a separate entity.; 7/17/2008 12:43 PM
Anonymous said...: LARGE HOLDERS OF SGLP:

Swank 1,899,995 shares
Kayne 1,404,960
Tortoise 872,897
Neuberger 2,644,656; 7/17/2008 12:45 PM
Anonymous said...: anymore news? I still can't find any substance.; 7/17/2008 1:23 PM

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