Our eagle is on a long upward flight.
The gain in altitude hasn’t been dramatic, but it has been sustained.
Units of New Source Energy Partners LP rose 9.4 percent last week to close at $27.66. NSPL set a new 52-week high north of $28 on Thursday.
The Oklahoma City developer of oil and natural gas assets has posted eight straight weeks of price advances.
The firm recently boosted its distribution to its unit holders. Last month, it acquired some new service resources.
And it never hurts to have the Motley Fool website post a story about your firm titled “These Are the 2 Best Oil and Gas MLPs in America.”
Our beagle got punished for taking down a bigger dog.
Compressco Partners LP, which helps oil and gas producers boost production, last week announced a planned $825 million purchase of Midland, Texas-based Compressor Systems Inc. to help it expand the Oklahoma City company quickly throughout the region. The purchase is expected to propel Compressco to No. 4 in its market, up from No. 10, CEO Ronald Foster said.
The firm’s unit slipped 12.2 percent last week to close Friday at $23.
Traders may not have been punishing Compressco for acquiring a larger competitor, but the deal required the firm to issue $400 million in new equity (diluting the holdings of current shareholders) and $300 million in new debt.
Compressco executives termed the deal “transformational.” Long-term investors will stick around to see if that’s true.
Eagle & Beagle is a weekly look at the state’s high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.