Pipeline joint venture CONE Midstream Partners LP files for a $350 million IPO

By Renaissance Capital,

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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 ( CNX ) and 50% owned by Noble Energy ( 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.

The article Pipeline joint venture CONE Midstream Partners LP files for a $350 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: CNX , NBL

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