CONE Midstream Partners LP, an MLP formed by CONSOL and Noble to own pipelines in the Marcellus Shale, filed on Monday with the SEC to raise up to $350 million in an initial public offering. The joint venture is 50% owned by CONSOL Energy (NYSE: CNX) and 50% owned by Noble Energy (NYSE: NBL).
The Canonsburg, PA-based company, which was founded in 2011 and booked $93 million in sales for the 12 months ended June 30, 2014, plans to list on the NYSE under the symbol CNNX. CONE Midstream Partners LP initially filed confidentially on June 12, 2014 and had been on our Private Company Watchlist since then. Wells Fargo Securities, BofA Merrill Lynch and Baird are the joint bookrunners on the deal. No pricing terms were disclosed.
