Tuesday, March 25, 2014

Constitution Pipeline slips in-service date 6-12 mos!!! Cabot's stock drops 11%

I'm trying to understand why Cabot's stock price took a
staggering 11% drop (from $40 to $35.6) in late Feb
leading up to their 4Q13 earnings call.


It's very strange, because Cabot by the numbers looks good.
The Street lists it as a BUY. Everything is great! 

The only thing I can figure is that the reason I can figure is
thy announced that Constitution Pipeline schedule slipped
the in-service date from March 2015 to late '15 or early '16.

(6 months to a year). This is the first time I've seen them change
the "March 2015" date since the open season announcement.


Slipped agigain to "Second Half 2016 – Target in-service"
 Whoops. Slipped again, according to the Swift Affidavit,
to "in-service by December 2nd of 2016", that's LATE 2nd half 2016.

Woah. Now George Stark says the next pipeline won't be online for "another 5 years".
Now is March 2015. This means March 2020??! What tha...?

May you, and all beings
be happy and free from suffering :)
-- ancient Buddhist Prayer (Metta)

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