MLP Protocol 121214

The U.S. Natural Gas drilling rig count peaked in September of 2008 and has declined ~79% since that time. How much has Total U.S. Natural Gas production declined over the same time frame? (See page 10)

New: Added some Propane price info and a Rig Count vs. Production vs. Price page. (See page 11)

MLP Protocol Weekly Snapshot report: (click to open, contains contact info) MLPP 121214 Snapshot vFree

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MLP Protocol 120514

MLP Protocol Weekly Snapshot report: (click to open, contains contact info, email is preferred) MLPP 120514 Snapshot vFree

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MLP Protocol 112814

MLP Protocol Weekly Snapshot report: (click to open, contains contact info, email is preferred) MLPP 112814 Snapshot vFree

NEW: Added a table showing Selected MLP Exposure to Major Producing Regions and a map (see pages 21-22)

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MLP Protocol 111414

MLP Protocol Weekly Snapshot report: (click to open, contains contact info, email is preferred) MLPP 111414 Snapshot vFree

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MLP Protocol 110714

MLP Protocol Weekly Snapshot report: (click to open, contains contact info, email is preferred) MLPP 110714 Snapshot vFree

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MLP Protocol 103114

MLP Protocol Weekly Snapshot report: (click to open, contains contact info, email is preferred) MLPP 103114 Snapshot vFree

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Short Interest Trends for the Kinder Morgan Group 102714

Below please find an update on the total number of shares and units sold short across the four Kinder Morgan entities. The following chart shows the total number of units or shares sold short for each name since September of 2012. The data is somewhat delayed, typically 10-12 days.

KM Short Interest Trend 102714 v1

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KM Short Interest Trend 102714 v2

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The vertical black dashed lines under the “X’s” mark the Ex-Dividend or Ex-Distribution dates for the entities. You may notice that some of the short positions tend to get covered prior to the Ex dates so they do not have to pay the dividends/distributions. Technically the data is as of the close on the date shown and not continuous data for every day, so the entire short position could be covered prior to the Ex date and then put back on the following day.

Two week change in the amount of units/shares sold short:

  • KMI: Up 10.7%
  • KMP: Up 11.8%
  • KMR: Up 20.5%
  • EPB: Up 27.4%

If you are a retail investor and shorting these names, please pay attention to the Ex-Dividend / Ex-Distribution dates so you don’t also have to pay the dividend/distributions. In addition, you should also take into account your additional cost to borrow each security from your broker. Many MLPs are typically “Hard to Borrow” so assuming your broker finds you units to borrow to short they may charge a high rate.

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