American Energy–Midstream LLC (AE-MidCo), will change its name to Traverse Midstream Partners LLC and transition to a standalone company, the company said June 23.
It is part of the American Energy Partners LP (AELP) group of companies, and was founded in June 2014. The changes will become effective July 1.
The Energy & Minerals Group provided $500 million in equity to the company, and additional equity came from AELP chairman and CEO Aubrey. K. McClendon, other AELP management members and affiliated parties. McClendon is chairman of Traverse Midstream.
Traverse Midstream has a 35% nonoperating interest in Rover Pipeline LLC, which is majority owned and operated by Energy Transfer Partners LP. The 710-mile Rover Pipeline will serve shippers from the Marcellus and Utica to nationwide markets, and to the Union Gas Dawn Hub in Ontario, Canada, through its connection to Vector Pipeline.