HCLP On The Move Again

My HCLP position is up another 5% this morning, pressing gains. The agreement to settle the Baker Hughes lawsuit coupled with a six year supply agreement was a big deal.

This partnership is one of the rare examples of me buying into an expensive equity position. I normally toe the line within certain valuations. However, I was willing to pick up the “pricey” HCLP partnership units because I like the prospects going forward. The partnership is small and the fracking revolution is young.

My expectation is for the HCLP and BAS positions to transform into cash cows over the next five years.