PITTSBURGH, Dec. 26, 2017 /PRNewswire/ — CNX Resources Corporation (NYSE: CNX) (“CNX”) announced that, upon the closing of the transaction contemplated by the agreement to purchase Noble Energy, Inc.’s (NYSE: NBL) (“Noble”) 50% membership interest in CONE Gathering LLC (the “Agreement”), CNX expects to rebrand CONE Gathering and its subsidiaries, including CONE Midstream Partners, LP (NYSE: CNNX) (“CONE”), to conform to the CNX brand identity.
This rebranding initiative includes changing the name of CONE to “CNX Midstream Partners LP” and changing the ticker symbol from “CNNX” to “CNXM”.
About CNX Resources
CNX Resources Corporation 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. The company deploys an organic growth strategy focused on responsibly developing its resource base. As of December 31, 2016, CNX had 6.3 trillion cubic feet equivalent of proved natural gas reserves. The company is a member of the Standard & Poor’s Midcap 400 Index. Additional information may be found at www.cnx.com.
Important Information about Company Names and Stock Trading Symbols
Effective November 28, 2017, the company known as CONSOL Energy Inc. (NYSE: CNX) separated its gas business (GasCo or RemainCo) and its coal business (CoalCo or SpinCo) into two independent, publicly traded companies by means of a separation of CoalCo from RemainCo.
- The gas business has been named CNX Resources Corporation (RemainCo, GasCo or CNX) and will continue to be listed on the New York Stock Exchange (NYSE), retaining the ticker symbol “CNX”. Information regarding CNX and its natural gas business will be available at www.cnx.com.
- The coal business has been named CONSOL Energy Inc. (SpinCo, CoalCo or CONSOL) and will be listed on the NYSE under a new ticker symbol: “CEIX”. CoalCo will own, operate and develop all of the company’s coal assets, including its interest in the Pennsylvania Mining Complex, the Baltimore Marine Terminal, and approximately one billion tons of greenfield coal reserves. Information regarding the new CONSOL Energy and its coal business will be available at www.consolenergy.com.
- The master limited partnership that was named CNX Coal Resources LP (NYSE: CNXC) has changed its name to CONSOL Coal Resources LP and will trade on the NYSE under a new ticker symbol: “CCR”. CoalCo owns 100% of the general partner of CONSOL Coal Resources LP (representing a 1.7% general partner interest), as well as all of the incentive distribution rights and the common and subordinated interests in CNX Coal Resources LP that were owned by CONSOL Energy Inc. prior to the spin-off. Information regarding CONSOL Coal Resources LP will be available at www.ccrlp.com