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54	member 5/07/23 4:41PM Re: Updated perspective? 53
Hi Maggie, I continue to be perplexed by the lack luster stock price of GEL. They were impacted by $15MM from one off weather related rail issues, but the unchanged guidance shows that there was some... login to read the rest 2 view available tags
53	member 5/07/23 8:01AM Updated perspective?
Hi lpartners, I have been intrigued by GEL as the soda ash dynamics you've discussed remind me of the favorable supply/demand imbalance I have embraced at both OLN (exited) and OEC (still involved). That said,... login to read the rest view available tags
50	member 12/13/22 7:11AM Re: 2025 Bridge 47
From your mouth to God's ear. view available tags
40	member 2/02/21 7:56PM Re: Re: Re: Re: Re: Any thoughts after Q3 report? 39
Have you been able to garner how pricing on the soda ash contract renewal is going? view available tags
39	member 11/16/20 5:23PM Re: Re: Re: Re: Any thoughts after Q3 report? 38
Is there a commodity that would serve as a proxy for soda ash that trades more? Would copper, iron ore or some other commodity be a good proxy? Also, what resources do you use to -1 view available tags
37	member 11/13/20 4:03PM Re: Re: Any thoughts after Q3 report? 36
So...we're trading at 1x segment profit. We have an extra $100 mm coming in EBITDA, soda ash coming back should be much stronger in a few quarters, and eventually probably rail as well...seeing that bk... login to read the rest view available tags
35	member 11/11/20 5:37PM Any thoughts after Q3 report?
Any thoughts here? view available tags
34	member 9/11/20 2:37PM Re: Re: Re: Update after 2Q 33
Lpartners - has your view changed at all at these levels? view available tags
33	member 8/16/20 11:43AM Re: Re: Update after 2Q 32
Thanks, the buyback of 96M debt at 79 cents on a dolloar was also nice, wish they could do more. Still, looks like the market does not care. view available tags
31	member 8/15/20 5:24PM Update after 2Q
lpartners, just curious of your thoughts on the 2Q, especially on the soda ash business. Looks like it turned worse than expected and they are cold stacking and delaying the Granger project. thanks. view available tags
29	member 7/28/20 11:38AM Comment on the SHLX comment
Lpartners, Can you give your two cents on the last post on the SHLX thread? I'm curious as to what you think. view available tags
27	member 7/06/20 9:33PM Re: Re: Weakness 26
Thanks for the insight. We like the asset profile as well, but what kind of outside world do you need for this to be a $12, $20 or $30 stock? You mentioned the yield...EPD is... login to read the rest view available tags
25	member 7/06/20 11:45AM Weakness
Any thoughts on why the stock has been so weak? Any industry or company specific news? view available tags
23	member 6/15/20 11:41AM Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: offshore rig count 20
Have you looked at bying otm puts on anything a bit more specific than r2k? Perhaps an mlp etf? I guess issue is that gel tends to outperform and underperform it's peers given its heavy... login to read the rest view available tags
22	member 6/14/20 4:43PM Soda ash pricing
Are there any online resources for following pertinent news stories or pricing trends for soda ash prices? Thanks. view available tags
21	member 6/11/20 10:00PM Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: offshore rig count 20
Though it probably shouldn't trade too closely to crude and I don't love etf's but could go long sco calls? You mind sharing a bit on your r2k put strategy? Are you trying to mirror your... login to read the rest view available tags
19	member 6/11/20 3:04PM Re: Re: Re: Re: Re: Re: Re: Re: Re: offshore rig count 18
Are you adding at these levels? Seems like they could use some good sponsors given the retreat by the high yield funds and energy houses that pulled back in the last few months. Are you view available tags
17	member 6/04/20 1:48PM Re: Re: Re: Re: Re: Re: Re: offshore rig count 16
Nice work on this one - what do you make of the slide deck released yesterday? view available tags
16	member 5/29/20 3:28PM Re: Re: Re: Re: Re: Re: offshore rig count 15
Makes sense. Will update with some work i've been doing on Soda ash - seems like a very intersting business. Thanks for the idea and discussion. view available tags
12	member 5/29/20 11:00AM Re: Re: offshore rig count 11
I'm by no means an expert here but even if GEL has the best positioned assets in the GOM, if it's a declining basin then GEL will be subject to basin economics at the end... login to read the rest view available tags
10	member 5/24/20 10:29PM offshore rig count
how do you guys think about the impact of lower rigs in GOM? offshore GOM is insulated somewhat vs. NAM but I do expect total offshore GOM rigs to decline. Does GEL's particular CP's just view available tags
8	member 5/08/20 8:36AM Re: Re: Re: Re: Earnings 7
Great writeup and generally agree. Typically these trade off yield and if they aren't going to increase in the next 6-12 months, how do you see a meaningful move in the name before then? view available tags
7	member 5/07/20 11:02PM Re: Re: Re: Earnings 6
I agree. Appreciate you bringing this idea to my attention. view available tags
3	member 4/12/20 7:06PM Re: Re: I Still Own It 2
Sorry for the delay... Offshore - Trump wanted to cut production. OMG! He did not. This is a great business that gets better as they load capacity. Onshore - A good business. They have a good relationship... login to read the rest 1 view available tags
1	member 4/06/20 7:00PM I Still Own It
GEL owns a nice collection of assets. I really like their offshore assets. I like the soda ash business. Their onshore business is attractive. I wrote it up as a buy at $20.00. I own... login to read the rest 4 view available tags

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			2020	2021
Price:	3.81	EPS	0.79	1
Shares Out. (in M):	123	P/E	5	4
Market Cap (in $M):	467	P/FCF	2	2
Net Debt (in $M):	3,416	EBIT	0	0
TEV (in $M):	4,737	TEV/EBIT	0	0

Description

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