SunTrust on CHK Bankruptcy | MLPs Message Board Posts

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Msg  120810 of 121121  at  6/30/2020 4:03:04 PM  by

passandshoot


SunTrust on CHK Bankruptcy

** As Chesapeake <CHK.N> seeks to reject certain natural gas contracts with pipeline operators, brokerage SunTrust says Williams <WMB.N> and Crestwood <CEQP.N> were previously viewed as "names to watch" if CHK were ever to file for bankruptcy
** With that now official, brokerage says it appears WMB has not been specifically identified as having rejected contracts
** SunTrust says it is difficult to say whether this puts co firmly in the clear with respect to rejection
** That said, brokerage thinks both CEQP and WMB have thus far dodged what many have feared
** CHK sought bankruptcy court approval to cancel $311 mln in pipeline contracts, setting up a battle with U.S. regulators and operators including Energy Transfer LP <ET.N> [nL4N2E63B4]
** While an anchor customer in bankruptcy is never good news, so far, early in this process, the contract rejection risk has yet to materialize to the best of our knowledge - brokerage
** Brokerage adds Kinder Morgan <KMI.N> is also a mentioned counterparty where relief is being sought, and outside the Gulf Coast region, the Red Oak and Liberty pipeline projects are also named where Plains All American <PAA.N> has significant interest
 


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Msg # Subject Author Recs Date Posted
120812 Re: SunTrust on CHK Bankruptcy lumpygravy 6 6/30/2020 4:22:16 PM






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