24 Hours

Until you are underwhelmed in one way or another by the Trustees.  How will you celebrate?

Update:  7:30am EST on 3/6 has come and gone without a press release.   Guess we’re taking this to the wire.

17 thoughts on “24 Hours

  1. Some news on buybacks.

    Today I contacted Chris (TPL I.R.) to know why any single share are being repurchased since half 2019.

    The SEC counsel advised that share repurchases should be halted until conversion committee get a decision, that should be made in ‘the coming weeks’ (we know that maybe we are going to get info tomorrow morning).
    Then, share repurchase restriction is going to be released.

    Goods news to me but share price is falling like all the entire market.

    Also I’m surprised with this quickly response.

    Liked by 2 people

    • Is it being negative to be right? Their customers are heavily levered, may have to cut capex, and even before that, TPL trades at a high multiple.


  2. I think this is more of a macro issue although I would like to send the current trustees packing. Oil is low, natgas is flared or negative in some cases. Natgas liquids that are very important in the delaware are in the tank. Apache has just given up on alpine high for awhile. Exxon although not a big customer for tpl is taking their foot off the pedal a bit. Plus all the ESG issues. It is a house of horrors for any hydrocarbon investor. ….


  3. lets just say your cost basis is 400 /16 = 4% and only 7% developed, rather own this than a 30 year @1,31% Oh yeah maybe double again next year. on a resource they may not want but must have, especially in a war

    Liked by 1 person

  4. This is so lame:

    On March 6, 2020, the Trust and the Investor Group entered into the Second Amendment to Settlement Agreement (the “Second Amendment”), which became effective as of the same date. The Second Amendment provides that the Decision Period shall extend through March 20, 2020.”

    Liked by 1 person

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