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.
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