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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Access Midstream Partners L.P. | NYSE:CHKM | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 28.46 | 0.00 | 01:00:00 |
The second-largest holder of Chesapeake Midstream Partners LP (CHKM) offered to sell its stake in the pipeline operator, according to a filing with the Securities and Exchange Commission.
Private investment fund Global Infrastructure Partners will offer at least 9.3 million units in the company with the option to sell more, Chesapeake Midstream's SEC filing said Wednesday.
The partnership's units were down 3.9% at $28.59 in recent after-hours trading.
Chesapeake Midstream was formed by natural-gas giant Chesapeake Energy Corp. (CHK) and GIP to operate gas-gathering systems and other midstream energy assets. It went public in 2010.
GIP now owns about 13% of the limited partnership, while Chesapeake Energy recently owned about 49%, according to FactSet Research.
Chesapeake Energy has recently spun off several gas-distribution assets and is working to diversify its upstream holdings to lessen its exposure to natural gas as prices for the fuel wallow in North America.
GIP indirectly owns half of Chesapeake Midstream's general partner.
-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com
1 Year Access Midstream Partners L.P. Chart |
1 Month Access Midstream Partners L.P. Chart |
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