Recent sale : Crestwood Equity Partners

Sold my position in Crestwood Equity Partners L.P (NSQ:CEQP) at $28.85 per share. This sale was due to U.S. Legislation change for Limited Partnership stocks.

 

New US legislation regarding Publicly Traded Partnerships.

New legislation regarding Publicly Traded Partnership stocks is coming in 1.1.2023. It makes owning these kind of stocks more complicated for non-US residents and due to that Finnish banks etc. will stop selling these stocks. This will affect my portfolio as I own few of these 

• Alliance Resource Partners LP (ARLP)
• Crestwood Equity Partners (CEQP)
• Enterprise Products Partners LP (EPD)
• Lazard Ltd. (LAZ)

I need to sell my position in these stocks by 31.12.2022. Well, time to look into some replacement investments.

Dividend increase #21 of 2022 : Crestwood Equity Partners

Crestwood Equity (NYSE:CEQP) declares $0.655/share quarterly dividend, 4.8% increase from prior dividend of $0.625. Forward yield 8.4%. Dividend is payable May 13; for shareholders of record April 6; ex-div April 5

 

Crestwood Equity Partners has completed Oasis Midstream acquisition

Crestwood Equity Partners LP (NYSE: CEQP) ("Crestwood") and Oasis Midstream Partners LP ("Oasis Midstream") announced today that the companies have successfully closed the transactions contemplated by the previously announced merger agreement. As a result of the combination, Crestwood has significantly enhanced its scale and competitive position in the Williston and Delaware Basins, enabling the company to capture expected operational and commercial synergies of approximately $45 million and driving enhanced financial strength and flexibility.

As previously announced, under the terms of the merger agreement, public holders of Oasis Midstream common units will receive 0.8700 Crestwood common units in exchange for each Oasis Midstream common unit. As previously announced, Crestwood unitholders as of the February 7, 2022 record date, including legacy Oasis Midstream unitholders that remain Crestwood unitholders, will receive Crestwood’s $0.625 per limited partner unit distribution, attributed to the fourth quarter 2021 and payable on February 14, 2022. Crestwood will utilize excess available free cash flow from the combined company to make the fourth quarter 2021 distribution payment.

Since I own 70 shares of Oasis Midstream Partners, I will receive 60 shares of Crestwood Equity Partners and small amount of cash. As Crestwood is paying distribution for February already, I should receive $37.5 in dividends also.

Oasis Midstream Partners to merge with Crestwood Equity Partners LP

Oasis Petroleum Inc. (NASDAQ: OAS) ("Oasis" or the "Company") announced today that Oasis Midstream Partners (NASDAQ: OMP) ("OMP") has entered into a definitive agreement under which it will merge with Crestwood Equity Partners LP (NYSE: CEQP) ("Crestwood"). Under the terms of the agreement, Oasis, as a unitholder of OMP, will receive $160MM in cash in addition to approximately 21.0MM common units of CEQP in aggregate in exchange for its 33.85MM OMP common units and non-economic general partner stake. Public OMP unitholders will receive 0.87 units of Crestwood common units for each unit of OMP owned. In the aggregate, the total consideration represents an at-the-market transaction based on the closing prices for OMP and Crestwood on October 25, 2021, and implies an enterprise value for the combined companies of approximately $6.9B. Upon completion of the transaction, Oasis will own approximately 21.7% of Crestwood common units.

Since I own 70 shares of OMP, I should receive 60 shares of CEQP and some cash