Quest Resources Seems Excessively Undervalued

Quest Resource Corp (QRCP) is a fast growing natural gas driller. Quest Resources recently revamped its corporate structure with the packaging of its upstream and midstream operations into two MLPs, Quest Midstream Partners (which is not publicly traded) and Quest Energy Partners (QELP). 

Quest Resources owns the general partners of its MLPs as well as significant limited partner interests. Quest Resource’s interests in these two MLPs provide the company with significant cash flow that has allowed Quest Resources to begin drilling on land that it owns in the fast growing Marcellus Shale area centered in western Pennsylvania.