While I'm in the believers' camp when it comes to dropdowns filtering into DKL, I have a feeling (and nothing more) that it could take several months before we find dropdowns actually occurring. Proposed litigation, if it were to catch a tailwind, would add voluminous sand into our TOP*.
The legal entanglement would be strenuous at the least, were a band of dissenters to gain traction requiring a mess of undoing rivaling that of rebuilding a pound of pecan shells to their former body shapes. I'd prefer to ride things out for several months until the fog has lifted.
It's enough for me that management has declared there would be dropdowns. Also, the distributions are growing, albeit rather slowly, but at least we see unitholder respect in action.
Those of us who were ready to take on the challenge and diverted ALDW capital into DK and DKL are enormously richer for it.
I'll be patient. No axe to grind here, just blissful summer breezes. And I'm hoping to find I can add a few more DKL units along the way.
Good fortunes, all!
*Tank Of Prosperity
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