Noble Energy Inc., Houston, and Consol Energy Inc., Pittsburgh, have submitted a confidential draft registration statement on Form S-1 to the US Securities and Exchange Commission relating to a proposed initial public offering of common units of a master limited partnership (MLP).
The 50-50 joint venture, to be named CONE Gathering LLC, will own, operate, and develop the companies’ jointly owned natural gas midstream assets in the Marcellus shale.
The companies previously formed a JV for the development of Marcellus assets (OGJ Online, Aug. 18, 2011). Last year, the companies reported plans to operate at least eight rigs in the basin in 2014 (OGJ Online, Nov. 5, 2013).