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.


http://finance.yahoo.com/echarts?s=COG+Interactive#symbol=COG;range=ytd

It's very strange, because Cabot by the numbers looks good.
The Street lists it as a BUY. Everything is great! 
http://www.thestreet.com/story/12438254/1/cabot-oil-gas-cog-falls-despite-earnings-beat.html

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.

https://web.archive.org/web/20140217070413/http://constitutionpipeline.com/

Slipped agigain to "Second Half 2016 – Target in-service"
https://web.archive.org/web/20150321235401/http://constitutionpipeline.com/
 Whoops. Slipped again, according to the Swift Affidavit,
to "in-service by December 2nd of 2016", that's LATE 2nd half 2016.
https://www.scribd.com/doc/255194714/Gas-Pipeline-RIght-of-Way-Condemnation

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...?
http://wnep.com/2015/03/26/is-the-marcellus-shale-boom-over/

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

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