These assets were Cactus' to start with. They were rolled into Superior to allow investors to participate in the wells and give Superior a bigger footprint per section and more exposure to well bores. The unsold assets are now being transferred back into Cactus. There is nothing illegal with this. Cactus gets a small override for the contribution. These were Prickly Pears assets from the start. One needs to have the facts before jumping to an incorrect conclusion. He actually did stockholders a favor.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.