PITTSBURGH, Aug. 25, 2014 /PRNewswire/ -- CONSOL Energy Inc.
(NYSE: CNX) announced that CONSOL Energy and its Marcellus Shale
joint venture partner, Noble Energy, Inc., caused a Registration
Statement on Form S-1 to be filed today with the U.S. Securities
and Exchange Commission for the initial public offering of common
units of a master limited partnership (MLP) to be known as CONE
Midstream Partners LP. CONE Midstream Partners will provide
midstream gathering services for production from CONSOL Energy's
and Noble Energy's jointly owned acreage in the Marcellus
Shale.
The number of common units to be offered and the price range for
the offering have not been determined. The offering is
expected to be completed late in the third quarter or early in the
fourth quarter of 2014. CONE Midstream Partners has
applied for a listing of the common units on the New York Stock
Exchange under the symbol "CNNX".
A registration statement relating to the securities of CONE
Midstream Partners LP has been filed with the Securities and
Exchange Commission but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior
to the time the registration statement becomes
effective.
Wells Fargo Securities, BofA Merrill Lynch and Baird will act as
book running managers of the offering. The offering of common units
will be made only by means of a prospectus. A copy of the
preliminary prospectus relating to this offering may be obtained,
when available, from:
Wells Fargo
Securities, LLC
Equity Syndicate
Department
375 Park
Avenue
New York, New York
10152
cmclientsupport@wellsfargo.com
800-326-5897
|
Merrill Lynch,
Pierce, Fenner & Smith Incorporated
BofA Merrill
Lynch
Prospectus
Department
222
Broadway
New York, New York
10038
dg.prospectus_requests@baml.com
|
Robert W. Baird &
Co. Incorporated
Syndicate
Department
777 E. Wisconsin
Avenue
Milwaukee, WI
53202
syndicate@rwbaird.com
800-792-2473
|
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
CONSOL Energy is a Pittsburgh-based producer of natural gas and
coal. The company is one of the largest independent natural gas
exploration, development and production companies, with operations
centered in the major shale formations of the Appalachian basin.
CONSOL Energy deploys an organic growth strategy focused on rapidly
developing its resource base of 5.7 Tcfe of proved natural gas
reserves, while the company's premium coal assets are sold to
electricity generators and steelmakers, both domestically and
internationally. CONSOL Energy is a member of the Standard
& Poor's 500 Equity Index and the Fortune 500.
Cautionary Statements
Various statements in this release, including those that express
a belief, expectation or intention, may be considered
forward-looking statements (as defined in Section 21E of the
Securities Exchange Act of 1934, as amended) that involve risks and
uncertainties that could cause actual results to differ materially
from projected results. Accordingly, investors should not place
undue reliance on forward-looking statements as a prediction of
actual results. The forward-looking statements may include
projections and estimates concerning the timing and success of
specific projects and future production, revenues, income and
capital spending. Words such as "believe," "intend," "expect,"
"may," "should," "anticipate," "could," "estimate," "plan,"
"predict," "project," or their negatives, or other similar
expressions, may be used to identify forward-looking statements.
The forward-looking statements in this press release, if any, speak
only as of the date of this press release (and there is no
obligation to update forward-looking statements should
circumstances or estimates or opinions change) and are not
statements of historical fact. Forward-looking statements are based
on current expectations, estimates and assumptions that involve a
number of risks and uncertainties that could cause actual results
to differ materially from those projected. These risks include,
without limitation, that the MLP is not formed and that the initial
public offering is not consummated. Furthermore, the
structure, nature, purpose, and proposed assets and liabilities of
the MLP may change materially from those described herein. No
assurance can be given as to the value of the MLP, the price at
which its common units may be offered, or whether a liquid market
for those common units will develop or be maintained. In addition,
in evaluating strategic alternatives with respect to their jointly
owned natural gas midstream assets, CONSOL Energy and Noble Energy
will be subject to the risks normally attendant to businesses in
the oil and natural gas industry, including, without limitation,
the volatility in commodity prices for crude oil and natural gas,
the presence or recoverability of estimated reserves, the ability
to replace reserves, environmental risks, drilling and operating
risks, exploration and development risks, competition, government
regulation or other actions.
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SOURCE CONSOL Energy Inc.