I was thinking more simply than you give me credit for---as in the all-cash option which, at this point, is terrible.
Proration is also terrible. As much as I was reluctant to vacate NTI, I'm feeling a bit relieved now that it's done. NGL is living up to its tradition by reaching for the moon.
And a pick I launched yesterday is SDLP. Another high yield that just cut its distribution by more than half. However, it is committed to shelling out 25 cents/u. You might check out the board. Don't make the mistake of thinking it's SDRL as that is very different and isn't a limited partnership paying a distribution of any sort.
This is one of the most widely recognized companies in its space. They operate all over the world. From "The Street":
Tender rigs aren't drilling rigs, they're support platforms for drilling operations----beds, supplies, personal areas for crew members and the like. Units are running at $2.45. I have just 1,500u so far and am waiting for the price to drop back to $2.15 so I can double down. That's my cost basis, btw. Like MDR, I see this as a no-brainer, just gotta be willing to ride out the current storm and hope things turn around starting in October as my sixth sense is telling me.
Now, if only I could count. lol
If I recall, you've still got some NTI. Will you continue to hold or will you bail at some point?