CONE Midstream Partners Closes Initial Public Offering

Press Release

Oct 1, 2014
CONE Midstream Partners Closes Initial Public Offering

HOUSTON and PITTSBURGH, Oct. 1, 2014 /PRNewswire/ -- Noble Energy, Inc. (NYSE: NBL), CONSOL Energy Inc. (NYSE: CNX) and CONE Midstream Partners LP, a Delaware limited partnership ("CONE Midstream Partners") formed by CONSOL and Noble Energy, announced today that CONE Midstream Partners has closed its initial public offering of 20,125,000 common units representing limited partner interests at a price to the public of $22.00 per common unit.  The common units issued at closing included 2,625,000 common units that were issued pursuant to the full exercise of the underwriters' option to purchase additional common units.  The common units began trading on the New York Stock Exchange on September 25, 2014 under the ticker symbol "CNNX."  

As of the closing of the offering, the public owns a 33.8% limited partner interest in CONE Midstream Partners.  Each of CONSOL and Noble Energy own a 32.1% limited partner interest in CONE Midstream Partners.  In addition, CONSOL and Noble Energy own, through their Marcellus Shale midstream joint venture, CONE Gathering LLC, a 2% general partner interest and the incentive distribution rights in CONE Midstream Partners.

Wells Fargo Securities, BofA Merrill Lynch, Citigroup, J.P. Morgan, Baird, Barclays, Deutsche Bank Securities, Goldman, Sachs & Co., Morgan Stanley, Credit Suisse and RBC Capital Markets acted as book-running managers of the offering.  MUFG, PNC Capital Markets LLC, BB&T Capital Markets, BBVA, BNP PARIBAS, DNB Markets, Mizuho Securities and TD Securities acted as co-managers of the offering.  The offering of common units was made only by means of a written prospectus.  Copies of the written prospectus, which meets the requirements of Section 10 of the Securities Act of 1933, may be obtained from:

Wells Fargo Securities

c/o Equity Syndicate Department

375 Park Avenue

New York, NY 10152

Toll-Free: 1-800-326-5897


BofA Merrill Lynch

222 Broadway, New York, NY 10038

Attn: Prospectus Department




c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

Toll-Free: 1-800-831-9146


J.P. Morgan

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, New York, 11717

Telephone: (866) 803-9204



Attention: Syndicate Department

777 East Wisconsin Avenue

Milwaukee, WI 53202-5391

Telephone: (800) 792-2473



c/o Broadridge Financial Solutions

1155 Long Island Avenue,

Edgewood, NY, 11717

Telephone: (888) 603-5847



Deutsche Bank Securities

Attention: Prospectus Group

60 Wall Street

New York, NY 10005

Telephone: (800) 503-4611



Goldman, Sachs & Co.

Attn: Prospectus Department

200 West Street

New York, NY 10282

Telephone: (866) 471-2526



Morgan Stanley

Attn: Prospectus Department

180 Varick Street, 2nd Floor

New York, NY 10014

Credit Suisse

Attn: Prospectus Department

One Madison Avenue

New York, NY 10010

Telephone: (800) 221-1037


RBC Capital Markets

Attn: Equity Syndicate

Three World Financial Center

200 Vesey St., 8th Floor

New York, NY 10281-8089

Phone: (877) 822-4089


You may also obtain a copy of the prospectus free of charge by visiting the website maintained by the Securities and Exchange Commission ("SEC"),, and searching under the registrant's name, "CONE Midstream Partners LP."

The registration statement relating to these securities has been filed with and declared effective by the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About CONE Midstream Partners

CONE Midstream Partners is a growth-oriented master limited partnership recently formed by CONSOL and Noble Energy, whom we refer to as our Sponsors, to own, operate, develop and acquire natural gas gathering and other midstream energy assets to service our Sponsors' rapidly growing production in the Marcellus Shale in Pennsylvania and West Virginia.  Our initial assets include natural gas gathering pipelines and compression and dehydration facilities, as well as condensate gathering, collection, separation and stabilization facilities.  

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws.  Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words "believe," "expect," "anticipate," "intend," "estimate" and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements.  Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict, and there can be no assurance that actual outcomes and results will not differ materially from those expected by our management.  These forward-looking statements involve certain risks and uncertainties, including, among others, that our business plans may change as circumstances warrant.  For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the "Risk Factors" section of the prospectus included in the registration statement on Form S-1, in the form last filed with the SEC.  We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.  

SOURCE Noble Energy

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