Cone Midstream Partners

CONE Midstream Partners (NYSE:CNNX) is a fee-based, growth-oriented master limited partnership that owns, operates, develops and acquires natural gas gathering and other midstream energy assets to service the rapidly growing production in the Marcellus Shale in Pennsylvania and West Virginia. Our assets include natural gas gathering pipelines and compression and dehydration facilities, as well as condensate gathering, collection, separation and stabilization facilities. We generate all of our revenues under long-term, fixed-fee gathering agreements that are intended to mitigate our direct commodity price exposure and enhance the stability of our cash flows. Our gathering agreements also include substantial acreage dedications currently totaling approximately 496,000 net acres in the Marcellus Shale.

CONE Midstream was formed by CONSOL Energy Inc. (NYSE: CNX) and Noble Energy, Inc. (NYSE: NBL), whom we refer to as our Sponsors. Each of our Sponsors is a large, independent oil and natural gas exploration and production company with a substantial resource base and a history of growing production in its areas of operation. Through an upstream joint venture formed in September 2011, our Sponsors established a joint development plan for one of the largest aggregate acreage positions in the Marcellus Shale, which is widely viewed as a premier North American shale play due to its significant hydrocarbon resources in place, consistent and predictable geology, high well recoveries relative to drilling and completion costs and proximity to high-demand metropolitan markets in the northeastern United States.

We believe that our strategically located assets, our relationship with our Sponsors and our Sponsors’ intention to use us as their primary midstream services company in the Marcellus Shale position us to become a leading midstream energy company.

Type
Public
HQ
Canonsburg, US
Founded
2014
Cone Midstream Partners was founded in 2014 and is headquartered in Canonsburg, US

Cone Midstream Partners Office Locations

Cone Midstream Partners has an office in Canonsburg
Canonsburg, US (HQ)
1000 Consol Energy Dr

Cone Midstream Partners Data and Metrics

Cone Midstream Partners Financial Metrics

Cone Midstream Partners's revenue was reported to be $59 m in Q1, 2017
USD

Revenue (Q1, 2017)

59 m

Net income (Q1, 2017)

33.2 m

Market capitalization (17-Aug-2017)

1.1 b

Cash (31-Mar-2017)

6 m
Cone Midstream Partners's current market capitalization is $1.1 b.
USDFY, 2014FY, 2015FY, 2016

Revenue

130.2 m203.4 m239.2 m

Revenue growth, %

56%18%

EBIT

64.8 m115.5 m

EBIT margin, %

50%57%

Net Income

64.8 m115.5 m130.1 m
USDQ3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

35.8 m43.2 m47.7 m53.8 m62.2 m58.4 m60.7 m59 m

Net Income

41.8 m21.2 m46.1 m79.7 m37.3 m61.8 m98.1 m33.2 m
USDY, 2011Y, 2012Y, 2013FY, 2014FY, 2015FY, 2016

Cash

21.2 m7.4 m6 m3.3 m217 k6.4 m

Inventories

473.9 m18.9 m

Current Assets

63.4 m57.6 m31 m

Total Assets

686.8 m924.4 m918.6 m

Accounts Payable

70.6 m46.2 m18 m

Current Liabilities

72.7 m47.8 m26.3 m

Total Liabilities

193.3 m
USDQ3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

7.3 m460 k161 k1.2 m14.3 m5.1 m4.2 m6 m

Inventories

16.6 m16.6 m18.9 m18.9 m

Current Assets

40.7 m60.1 m44.7 m53.2 m56.7 m23.7 m25.9 m31.3 m

Total Assets

582.8 m719.7 m778.3 m880.7 m935.3 m913 m910.7 m926 m

Accounts Payable

59.8 m57.9 m64 m74.8 m29.2 m23.9 m19.1 m18.1 m

Current Liabilities

63.6 m60 m66.2 m83.6 m30.7 m25.4 m20.8 m23.6 m
USDFY, 2014FY, 2015FY, 2016

Net Income

64.8 m115.5 m130.1 m

Depreciation and Amortization

7.3 m

Inventories

(2.3 m)

Accounts Payable

23.8 m(8.7 m)(16.7 m)

Cash From Operating Activities

(2.7 m)(3 m)160.1 m

Capital Expenditures

(269.7 m)(291.2 m)(50.7 m)

Cash From Investing Activities

(269.6 m)(291.2 m)(45.3 m)

Cash From Financing Activities

182.2 m172.2 m(108.6 m)

Interest Paid

572 k

Free Cash Flow

(272.4 m)(294.2 m)109.4 m
USDQ3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

41.8 m21.2 m46.1 m79.7 m37.3 m61.8 m98.1 m33.2 m

Depreciation and Amortization

5.1 m3 m6.7 m

Inventories

(18.9 m)(16.6 m)(18.9 m)

Accounts Payable

14.4 m1.3 m13.3 m23.4 m(9.2 m)(12.5 m)(12 m)(2.4 m)

Cash From Operating Activities

62.4 m10.2 m60.5 m99.3 m41.2 m83 m122.9 m34.2 m

Capital Expenditures

(185.7 m)(61.8 m)(138.2 m)(233 m)(24.4 m)(33.7 m)(40.5 m)(11.2 m)

Cash From Investing Activities

(185.7 m)(61.8 m)(138.2 m)(233 m)(24.4 m)(33.7 m)(40.2 m)(11.2 m)

Cash From Financing Activities

124.7 m48.8 m74.6 m131.6 m(2.7 m)(44.4 m)(78.7 m)(23.4 m)

Free Cash Flow

(123.3 m)(51.6 m)(77.7 m)(133.7 m)16.8 m49.2 m82.5 m23 m

Cone Midstream Partners Operating Metrics

FY, 2016

Facilities

19

Average Daily Throughput, BBtu/d

1.35 k

Pipelines Network, miles

254

Cone Midstream Partners Market Value History

Cone Midstream Partners Revenue Breakdown

Traffic Overview of Cone Midstream Partners

Cone Midstream Partners Company Life and Culture

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