CONSOL and Noble Energy to form a midstream master limited partnership

theflyonthewall.com

CONSOL Energy (CNX) and its Marcellus Shale joint venture partner, Noble Energy (NBL), intend to form a master limited partnership to provide midstream gathering services for production from their jointly owned acreage in the Marcellus Shale. CONSOL Energy and Noble Energy have caused a draft registration statement on Form S-1 to be confidentially submitted to the SEC for an initial public offering of common units of the MLP. The offering is expected to be completed late in Q3 or early in Q4. Following the closing of the initial public offering, CONSOL Energy and Noble Energy will control the general partner of the MLP, which will own the incentive distribution rights, and will collectively own a majority of the limited partner interests of the MLP.

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