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UPDATE: UPDATE: CenterPoint up 10% Past 52-Week High; OGE up 6%, Past 52-Week High; CenterPoint, OGE Energy, ArcLight to Form Midstream Partnership

By: MT Newswires
Posted: 3/15/2013 9:18:00 AM
Referenced Stocks: CNP;OGE

CenterPoint Energy, Inc. ( CNP ), OGE Energy Corp. ( OGE ), and ArcLight Capital Partners, LLC have entered into an agreement to form a master limited partnership that will include CenterPoint Energy's interstate pipelines and field services businesses and the midstream business of Enogex LLC, owned jointly by subsidiaries of OGE and Arclight.

The partnership will be managed by a general partner whose governance will be shared by CenterPoint Energy and OGE on a 50/50 basis.

CNP shares are up 10% at $23.98, past its 52-week high of $21.95 in pre-market trading; OGE shares are up 6% at $64.99, past its 52-week high of $61.39.