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CONE Midstream Partners LP
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| General Information |
| Business: |
We are a fee-based, growth-oriented master limited partnership recently formed by CONSOL Energy Inc. (NYSE: CNX) and Noble Energy, Inc. (NYSE: NBL), whom we refer to as our Sponsors, to own, operate, develop and acquire natural gas gathering and other midstream energy assets to service our Sponsors’ rapidly growing production in the Marcellus Shale in Pennsylvania and West Virginia. Our initial assets include natural gas gathering pipelines and compression and dehydration facilities, as well as condensate gathering, collection, separation and stabilization facilities. We generate all of our revenues under long-term, fixed-fee gathering agreements that we have entered into with each of our Sponsors that are intended to mitigate our direct commodity price exposure and enhance the stability of our cash flows. Our gathering agreements also include substantial acreage dedications currently totaling approximately 496,000 net acres in the Marcellus Shale. We believe that our strategically located assets, our relationship with our Sponsors and our Sponsors’ intention to use us as their primary midstream services company in the Marcellus Shale position us to become a leading midstream energy company. |
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| Industry: |
NATURAL GAS TRANSMISSION |
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| Contact Information |
| Address: |
1000 CONSOL Energy Drive, Canonsburg, PA 15317, US |
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| Financial Information |
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| Revenues: |
$ 92.8 mil (last 12 months) |
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| Net Income: |
$ 43.6 mil (last 12 months) |
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| IPO Profile |
| Symbol: |
CNNX |
| Shares (millions): |
17.5 |
| Price Range: |
$22.00 - $22.00 |
| Est.$ Volume |
$ 385.0 mil |
| Manager / Joint Managers |
Wells Fargo Securities/ BofA Merrill Lynch/ Citigroup/ J.P. Morgan/ Baird/ Barclays/ Deutsche Bank Securities/ Goldman Sachs/ Morgan Stanley/ Credit Suisse/ RBC Capital Markets |
| Co Managers |
MUFG/ PNC Capital Markets/ BB&T Capital Markets/ BBVA/ BNP PARIBAS/ DNB Markets/ Mizuho Securities/ TD Securities |
| Expected to Trade |
9/25/2014 |
| Status |
Priced |
| SCOOP RATING |
Available only to Subscribers |
| RATING CHANGE |
Available only to Subscribers |
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