They also made a draft registration statement on Form S-1 to be submitted to the U.S. Securities and Exchange Commission (SEC) for an initial public offering of common units of the MLP. The offering is expected to be completed late in the third quarter or early in the fourth quarter of 2014.
Following the closing of the initial public offering, CONSOL Energy and Noble Energy will control the general partner of the MLP, which will own the incentive distribution rights, and will collectively own a majority of the limited partner interests of the MLP.
The initial public offering is dependent on the approval of Noble Energy and market conditions, the announcement said.
