CONE Midstream 3Q16: Success Story Continues

CONE logoCONE Midstream, a joint venture between CONSOL Energy and Noble Energy (get it? CO from CONSOL and NE from Noble Energy) was formed in summer 2014 (see CONSOL & Noble Energy Form New Marcellus Midstream Company). When CONE released their 1Q16 update, we pointed out what a gem of a midstream (i.e. pipeline) company it is (see CONE Midstream 1Q16: Profits Up, Volumes Up, Looking Great!). In 2Q16 the company continued its winning ways (see Cone Midstream Continues to Impress – 2Q16 Update). What about in 3Q16? Net income was up ($23.6 million in 3Q16 vs. $19.7 million in 3Q15), and average daily volumes flowing through the pipeline was up (840 billion Btus per day in 3Q16 vs. 642 BBtu/d in 3Q15). Here’s the latest from the midstream gem in the Marcellus…

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