Consol Energy Inc and Noble Energy Inc said on Thursday they would form a master limited partnership (MLP) for pipeline operations they control in Pennsylvania's Marcellus shale region.The move will give both companies cash to drill wells in the natural gas-rich Marcellus region and also give investors higher yields, though the MLP governance structure has been criticized by some as weaker and more confusing for investors than those of corporations.Consol and Noble have confidentially filed paperwork for the MLP to launch an initial public offering. The confidential filing, made possible by a 2012 U.S. law designed to shield small companies from a media frenzy, enables the Securities and Exchange Commission to privately review the IPO documents before they are made public.Twitter Inc took such a step in its 2013 filing, hoping to avoid the hype surrounding Facebook Inc's own filing.
Shares of CNX remained unchanged at $47.00. In the past year, the shares have traded as low as $26.25 and as high as $48.30. On average, 2295590 shares of CNX exchange hands on a given day and today's volume is recorded at 0.
Noble Energy, Inc. (Noble Energy) is an independent energy company engaged in worldwide oil and gas exploration and production. Shares of NBL remained unchanged at $75.38. In the past year, the shares have traded as low as $56.92 and as high as $78.01. On average, 1760530 shares of NBL exchange hands on a given day and today's volume is recorded at 200.
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