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With market participants fixated on the fate of US Shale producers and their midstream agreements, MLPData will be publishing a weekly roundup of E&P filings and their midstream creditors as disclosed in their filing. Our goal is to ensure that midstream MLP investors are aware of unsecured creditor status associated with a bankruptcy filing. Midstream agreements can be modified prior to, and as a result of, bankruptcy. The extent to which the agreements are modified are opaque, but the Top 20 Unsecured Credit list, published in a Bankruptcy filing, provides insight into the receivables and revenues at risk from re-negotiation or termination
BANKRUPTCY FILING - 12/31/15 SWIFT ENERGY COMPANY
COUNTERPARTY: EXTERRAN ENERGY SOLUTIONS LP
BALANCE: $1,426,209
POSSIBLE MLP EXPOSURE - ARCHROCK PARTNERS LP TICKER APLP
Exterran Energy Solutions L.P., is a wholly-owned subsidiary of Exterran Corporation, a to be publicly listed international compression services and global fabrication company based in Houston. It is not clear as to whether the contracted party is the Archrock MLP or Exterran.
Archrock Partners LP DCF
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1 . High Risk of Distribution Cut
2 . Distribution At Risk
3 . No Risk of Distribution Cut
4 . No Risk of Distribution Cut; Growth at Risk
5 . No Risk of Distribution Cut; Strong Growth