Consol Energy, Noble Energy announce plans for partnership - WOWK 13 Charleston, Huntington WV News, Weather, Sports

Consol Energy, Noble Energy announce plans for partnership

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Consol Energy Inc. and Noble Energy Inc. both announced June 12 their plans to form a 50-50 partnership to provide midstream gathering services for production from the acreage they jointly own.

If and when the proposed offering is complete, the master limited partnership would own, operate and develop both Consol’s and Noble’s jointly-owned natural gas midstream assets in the Marcellus shale.

The two companies have created a draft master limited partnership registration they intend to file with the U.S. Securities and Exchange Commission for an initial public offering of common units of the MLP. The offering is expected to be completed late in the third quarter or early in the fourth quarter of 2014.

Consol Energy is a Pittsburgh-based natural gas and coal producer with a resource base of 5.7 trillion cubic feet of proved natural gas reserves. Noble Energy is engaged in worldwide oil and gas exploration and production, with core operations primarily in the DJ Basin and Marcellus Shale.