Boardwalk Cuts Distribution On Oversupply In Marcellus, Utica

摘要

As word of a steep cut in its distribution filtered out on February 10, Boardwalk Pipeline Partners saw its unit prices hit an all-time low of $12.79 per unit. When trading closed for the day, the price rested at $13.01 per unit, having plummeted 45.99%. Boardwalk may be the latest in a line of long-haul pipeline companies suffering from the prodigious natural gas production the Marcellus and Utica shale plays. The master limited partnership announced its plan to cut distribution rate by 81%—$2.13 to 40 cents—in an effort to free up internally generated cash for growth projects.