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.

Rover has 15-year and 20-year fee-based contracts to carry more than 3 billion cubic feet per day (Bcf/d) of natural gas. Transportation from the supply regions to the Midwest hub near Defiance, Ohio, is scheduled to begin by year-end 2016. Mid-2017 will see the remaining markets in service, AE-MidCo added.

Traverse Midstream also has a 25% nonoperating interest in the Ohio River System, including a 52-mile, 36-inch gas gathering trunk line that will deliver 2.1Bcf/d of gas to Rockies Express Pipeline and Texas Eastern Transmission on the southern end, and an additional 1.4Bcf/d through a 12-mile, 30-inch lateral to the interstate grid on the line’s northern end, the company said.

Ohio River  will serve Monroe, Belmont, Jefferson and Harrison counties in eastern Ohio, and is scheduled to be in service in third-quarter 2015. This project is also majority owned and operated by ETP, AE-MidCo added.

"I am very pleased today to see our second platform company announce its transition to becoming a fully independent standalone company. Along with Ascent Resources Corporation's announced separation two weeks ago, today's Traverse Midstream announcement serves as a reminder of the successful collaboration between EMG and AELP in starting, funding and developing first-class companies dedicated to a particular play, basin or strategy,” he said.

 “I've worked with Dave Shiels over the last five years and have 100% confidence in his executive abilities and I look forward to his leadership making Traverse Midstream one of the industry’s most successful midstream companies.”

American Energy-Midstream LLC is based in Oklahoma City.