CNX Midstream Partners LP

CNX Midstream Partners LP

CNX Midstream Partners LP

Overview
Date Founded

2014

Headquarters

CNX Center,1000 CONSOL Energy Drive,Canonsburg, PA 15317

Type of Company

Public

Employees (Worldwide)

110

Industries

Oil & Gas

Company Description

CNX Midstream Partners LP owns, operates, develops, and acquires natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia. It operates its business through the following segments: Anchor Systems and Additional Systems. The Anchor Systems segment includes four primary midstream systems such as, the McQuay System, the Majorsville System, the Mamont System and Shirley-Penns System. The Additional Systems segment includes several gathering systems primarily located in the wet gas regions of its acreage. The company was founded on May 30, 2014 and is headquartered in Canonsburg, PA.

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Executives & Employees

Chairman of the Board & Chief Executive Officer

Director & Chief Financial Officer

Director & Chief Operating Officer

Chief Accounting Officer

Principal Accounting Officer

Marketing Director

Director-Finance

Vice President-Investor Relations

Board of Directors

Chairman of the Board & Chief Executive Officer at CNX Midstream Partners LP

Director & Chief Financial Officer at CNX Midstream Partners LP

Westlake Chemical Partners LP

Chief Executive Officer & Director at Ricon Corp.

Director & Chief Operating Officer at CNX Midstream Partners LP

President & Chief Executive Officer at Spartan Energy Partners LP

Vice President-Financial Planning & Analysis at CNX Resources Corp.

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Owners & Shareholders
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Tortoise Capital Advisors' primary investment strategy is fundamentals based, long-only, with an emphasis on managing risk which they define as the potential for a permanent loss of capital. However, their investment strategies may include short-term purchases and trading where appropriate, as indicated by their fundamental and technical analysis. The firm may employ other strategies for investment company clients involving leveraging and hedging, or writing (selling) covered call options on selected equity securities in the client's portfolio. These other strategies may include currency hedging transactions and interest rate transactions such as swaps, caps and floors. Tortoise Capital Advisors evaluate companies operating in the entire energy value chain to gain a better understanding of the impact on the firm's respective investments. They have primary coverage on all midstream MLPs and pipeline c-corporations in the investment universe, and a majority of the large energy and power companies. Tortoise Capital Advisors have secondary coverage on all other MLPs, as well as a majority of the energy value chain in their investment universe.

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Eagle Global Advisors manages investment portfolios of domestic equity, international equity, global equity, master limited partnerships, domestic fixed-income securities, and special situations.Eagle Global's investment process for Domestic, Global, and International Equities incorporates both top-down and bottom-up elements and is designed to identify companies with improving growth prospects that have not been incorporated into current valuations. The firm employs a series of quantitative multifactor models that are used to provide both top-down and bottom up analysis. The models provide directional guidance towards countries, sectors and stocks with improving prospects. In addition, company-specific ideas are subjected to traditional fundamental analysis including a qualitative analysis of a company's competitive strengths, weaknesses and industry positioning as well as the company's management strength and integrity.Eagle Global's MLP Strategy investments are determined through traditional fundamental analysis. Financial models, analyst research and meetings with company management are used to select attractive MLPs and MLP related corporations. The MLP Strategy focuses on investing in units of master limited partnerships, corporations that own and invest in MLP and infrastructure related assets, based on each unit's anticipated total return potential and risk characteristics. Investment decisions are made at the discretion of the MLP portfolio manager upon recommendations made by the MLP investment team.The Eagle Global Special Situations Strategy identifies investment opportunities through quantitative and fundamental analysis and purchases and holds investments which are believed to have significant total return potential. The holding period for each investment may vary and in some cases may last for years before being liquidated.

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HITE Hedge Asset Management focuses exclusively on relative-value trading of master limited partnership and related securities (MLPs). In their hedged portfolios, where they are both long and short MLPs, they focus on minimizing the risks related to being long MLPs, and attempt to generate returns uncorrelated with any asset class. The firm also has a long-only unlevered trading strategy in MLPs for investors seeking unhedged exposure toMLPs that employs the same value-oriented analysis to identify trading and investing opportunities.

Recent Transactions
Details Hidden

CNX Midstream Partners LP issued USD Common Units

Details Hidden

CNX Midstream Partners LP purchases CNX Midstream DevCo III GP LLC from CNX Resources Corp.

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CNX Midstream Partners LP purchases Cone Midstream Devco I LP from CNX Gathering LLC

Transaction Advisors
Underwriter

Advised onCNX Midstream Partners LP issued USD Common Units

Underwriter

Advised onCNX Midstream Partners LP issued USD Common Units

Investment Advisor

Advised onCNX Midstream Partners LP purchases CNX Midstream DevCo III GP LLC from CNX Resources Corp.

Co-Hiring Partner

Advised onCNX Midstream Partners LP purchases Cone Midstream Devco I LP from CNX Gathering LLC

Director

Advised onCNX Midstream Partners LP issued USD Common Units

Managing Director

Advised onCNX Midstream Partners LP issued USD Common Units

Clients

CONSOL Energy, a publicly owned Pittsburgh-based producer of coal and natural gas, is one of the leading diversified energy companies in the United States of America. Our premium Appalachian coals are sold worldwide to electricity generators and steelmakers, and our Natural Gas Division has grown from a pure-play coalbed methane producer to a full-fledged exploration and production operation. We are a leading producer in the Marcellus Shale and we conduct an active exploration program in the Utica Shale. Since our founding in 1860 and our first active mining operations in 1864, CONSOL has powered the nation with affordable, abundant, reliable domestic energy. Today, CONSOL's more than 9,000 employees help generate the fuels - coal and natural gas - that comprise two thirds of the nation's power supply. Our energy supports the American way of life by helping deliver electricity 24/7, creating family-sustaining jobs and keeping our nation competitive in the global marketplace. Our strong record of environmental stewardship and our commitment to community have helped enable us to become the dynamic and accomplished energy company we are today. CONSOL Energy maintains the largest private research and development facility in the U.S. industry that is devoted exclusively to coal and energy utilization and production. In addition to supporting the production of CONSOL Energy's coal and gas operations, it also focuses on energy development, improving energy efficiency and reducing pollution. This facility was borne out of our core values - Safety, Compliance and Continuous Improvement - and enables us to identify opportunities and implement solutions that drive safety, production, and utilization of our strategic resources in smarter, more efficient ways. CONSOL Energy's coal mines are highly technical operating environments that require specialized training. The days of pick axes and shovels have been replaced with technologically advanced processes such as longwall mining, enhanced safety protocols, digital technologies and sophisticated communications technologies such as those employed at our centralized Communications Center at corporate headquarters. These advances have helped make the mining process safer and more productive, more than doubling resource recovery. CONSOL Energy's natural gas operations include coal bed methane extraction, conventional and shale gas exploration and production, all of which require expertise and technology that continues to evolve and advance. From safety to environmental protocols, techniques and equipment, advances in these areas are continuous, improving recovery, enhancing safety, and providing more environmentally protective methods

HG Energy II Appalachia LLC engages in oil and gas production. The company was founded on May 4, 2017 and is headquartered in Parkersburg, WV.

Key Stats and Financials As of 2018
Market Capitalization
$941M
Total Enterprise Value
$1.59B
Earnings Per Share
$1.89
Revenue
$257M
EBITDAMargin
72.88%
EBITDA
$187M
Net Profit
$121M
Enterprise Value EBITDAOperating
8.49x
Enterprise Value Sales
6.19x
TEVNet Income
13.17x
Debt TEV
0.3x
Total Debt
$477M
Total Equity
$399M
Three Year Compounded Annual Growth Rate Of Revenue
8.06%
Five Year Compounded Annual Growth Rate Of Revenue
31.36%
Suppliers
CNX Resources Corp. Oil & Gas | Canonsburg, Pennsylvania

CONSOL Energy, a publicly owned Pittsburgh-based producer of coal and natural gas, is one of the leading diversified energy companies in the United States of America. Our premium Appalachian coals are sold worldwide to electricity generators and steelmakers, and our Natural Gas Division has grown from a pure-play coalbed methane producer to a full-fledged exploration and production operation. We are a leading producer in the Marcellus Shale and we conduct an active exploration program in the Utica Shale. Since our founding in 1860 and our first active mining operations in 1864, CONSOL has powered the nation with affordable, abundant, reliable domestic energy. Today, CONSOL's more than 9,000 employees help generate the fuels - coal and natural gas - that comprise two thirds of the nation's power supply. Our energy supports the American way of life by helping deliver electricity 24/7, creating family-sustaining jobs and keeping our nation competitive in the global marketplace. Our strong record of environmental stewardship and our commitment to community have helped enable us to become the dynamic and accomplished energy company we are today. CONSOL Energy maintains the largest private research and development facility in the U.S. industry that is devoted exclusively to coal and energy utilization and production. In addition to supporting the production of CONSOL Energy's coal and gas operations, it also focuses on energy development, improving energy efficiency and reducing pollution. This facility was borne out of our core values - Safety, Compliance and Continuous Improvement - and enables us to identify opportunities and implement solutions that drive safety, production, and utilization of our strategic resources in smarter, more efficient ways. CONSOL Energy's coal mines are highly technical operating environments that require specialized training. The days of pick axes and shovels have been replaced with technologically advanced processes such as longwall mining, enhanced safety protocols, digital technologies and sophisticated communications technologies such as those employed at our centralized Communications Center at corporate headquarters. These advances have helped make the mining process safer and more productive, more than doubling resource recovery. CONSOL Energy's natural gas operations include coal bed methane extraction, conventional and shale gas exploration and production, all of which require expertise and technology that continues to evolve and advance. From safety to environmental protocols, techniques and equipment, advances in these areas are continuous, improving recovery, enhancing safety, and providing more environmentally protective methods

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