Is anyone following MEG? Down about 35% over the last week. Textbook story of what happens when you lever up and prices go the wrong way. The highs are higher and the lows are lower. They're actually cash flow negative at current prices and will have to tap in to credit lines to service interest payments (i.e. using debt to service debt...like using one credit card to pay off another).
Whoever bends them over when they're forced to sell Access Pipeline is going to get one hell of a deal.
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