Consol, Noble Prep for Marcellus Midstream Spin-Off

摘要

Consol Energy Inc. and Noble Energy Inc. plan to form a master limited partnership (MLP) with midstream gathering assets that serve growing production from the companies’ 50/50 joint venture in the Marcellus Shale, they said Thursday. Both companies said a confidential draft registration statement has been filed with the Securities and Exchange Commission (SEC). They also stressed that any initial public offering (IPO) of common units in the MLP would be subject to SEC review, market conditions and the approval of Noble Energy’s board of directors.