Fundamentals and norms suggest EP has problems. Cutting the dividend is usually one indicator that says "stay away from this company". Yet the pps goes up today. If you listened to the Q&A, Foshee was asked about why he cut the dividend when the savings was only 100 million or so. His response was clear. (my words) They could not meet the financial demand (debt) and fund the growth programs without cutting the dividend. Sad! He did say they would move assets down to the MLP but that this may be, would probably be, in addition to the selling assets (300m to 500m) out right. Foshee has been squeezed. He has probably made the right decision under the circumstance, but he created the circumstance because of poor leadership and management. Question now is can he be trusted and should one bet their money on him. His track record is not good.

I also found it interesting that EP no long own interest in the Brazil well that recently it pay dirt.