Consol Energy Inc. (NYSE: CNX) and Noble Energy Inc. (NYSE: NBL), its joint venture partner in the Marcellus, filed an S-1 form for the IPO of an MLP, Consol said Aug. 25. The form for Cone Midstream Partners LP was filed with the Securities and Exchange Commission and is not yet effective, the company added.
Cone Midstream will provide the two companies with gathering services in the Marcellus, Consol said.
The number of common units to be offered in the IPO, and their price, “have not been determined,” Consol said, noting that the offer is scheduled to close either late in this year's third quarter, or early in its fourth quarter.
Cone Midstream has applied to list under the ticker symbol “CNNX” on the New York Stock Exchange, the company added.
Wells Fargo Securities LLC, BofA Merrill Lynch and Baird are book-running managers, Consol said.
Pittsburgh-based Consol Energy Inc. operates in the Appalachian Basin.
Recommended Reading
E&P Highlights: May 6, 2024
2024-05-06 - Here’s a roundup of the latest E&P headlines, including technology milestones and new contract awards.
US Oil, Gas Rig Count Falls to Lowest Since January 2022
2024-05-03 - The oil and gas rig count, an early indicator of future output, fell by eight to 605 in the week to May 3, in the biggest weekly decline since September 2023.
Pemex Reports Lower 2Q Production, Net Income
2024-05-03 - Mexico’s Pemex reported both lower oil and gas production and a 91% drop in net income in first-quarter 2024, but the company also reduced its total debt to $101.5 billion, executives said during an earnings webcast with analysts.
Chouest Acquires ROV Company ROVOP to Expand Subsea Capabilities
2024-05-02 - With the acquisition of ROVOP, Chouest will have a fleet of more than 100 ROVs.
SLB, OneSubsea, Subsea 7 Sign Collaboration Deal with Equinor
2024-05-02 - Work is expected to begin immediately on Equinor’s Wisting and Bay Du Nord projects.