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    Sheru Chowdhry

    Research Analyst at DSC Meridian

    Sheru Chowdhry is the Founder and Chief Investment Officer at DSC Meridian Capital, an opportunistic credit investment firm established in 2018 and specializing in event-driven and ESG-focused credit strategies across the corporate and high-yield bond markets. He previously served as Partner and Global Head of Corporate Credit Research at Paulson & Co. from 2004 to 2017, where he managed the multi-billion-dollar Paulson Credit Opportunities Funds and led creditor committees in major post-crisis bankruptcies, and began his career in M&A at J.P. Morgan before a vice presidency at DebtTraders Inc. Chowdhry covers a range of investment-grade and high-yield issuers and has pioneered climate-aligned credit funds, launching the DSC Meridian Climate Action Fund with a dual mandate for financial and ESG impact. He holds an MBA from Vanderbilt University, a Bachelor of Technology from IIT Bombay, and is a principal and director of SEC-registered DSC Meridian Capital LP.

    Sheru Chowdhry's questions to UNIT (UNTC) leadership

    Sheru Chowdhry's questions to UNIT (UNTC) leadership • Q2 2019

    Question

    Sheru Chowdhry inquired about the Superior midstream assets, asking for the mix of fee-based versus price-sensitive contracts. He also sought to understand the weakness in the drilling segment, questioning how much was due to releasing rigs from their own E&P operations and whether any BOSS rigs were used internally.

    Answer

    Executive Robert H. Parks clarified that the midstream business is approximately two-thirds fee-based and one-third price-sensitive. Executive John Cromling explained that the drilling segment's weakness stemmed from spreading fixed costs over fewer operating rigs, not from the release of internal rigs, as intercompany profits are eliminated. He also confirmed that only SCR rigs, not BOSS rigs, were used for their own E&P operations.

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