Consol, Noble Energy reveal plans for Marcellus midstream MLP

Aug 26 2014, 11:11 ET

Consol Energy (CNX +1.7%) makes official its MLP plans for its midstream assets in the Marcellus Shale, as it and joint venture partner Noble Energy (NBL +1.2%) files with the SEC for an IPO in what will be known as Cone Midstream Partners.The companies say they hope to finish the IPO by early Q4, and Cone Midstream will trade on the NYSE under the ticker CNNX.The number of shares to be offered and the price have not been determined, but FBR Capital estimates CNNX could be valued at ~$1B (Briefing.com).

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