CONE Midstream 1Q16: Profits Up, Volumes Up, Looking Great!

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). Last week CONE released its first quarter 2016 update. This gem of a midstream company continues to grow and impress. In 1Q16 CONE had $24.8 million in net income compared to $14.2 million for 1Q15 (up an astonishing 75%). During 1Q16 CONE flowed an average of 850 million cubic feet per day (Mmcf/d) of gas through its system, vs. 549 Mmcf/d in 1Q15. Keep an eye on CONE! Below we have the update, along with comments from CONE CEO John Lewis and a copy of their latest PowerPoint slide deck…

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