CANONSBURG, Pa., Nov. 02, 2017 (GLOBE NEWSWIRE) -- CONE Midstream Partners LP (NYSE:CNNX) ("CONE Midstream" or the "Partnership") today reported financial and operational results for the three months ended September 30, 2017⁽¹⁾.

Third Quarter Results

Highlights of third quarter 2017 results attributable to the Partnership as compared to the third quarter of 2016 include:⁽²⁾

• Net income of $28.9 million as compared to $23.6 million
  
• Average daily throughput volumes of 946 billion Btu per day (BBtu/d) as compared to 840 BBtu/d
  
• Net cash provided by operating activities of $38.2 million as compared to $40.0 million
  
• Adjusted EBITDA⁽³⁾ of $34.2 million as compared to $26.8 million
  
• Distributable cash flow (DCF)⁽³⁾ of $29.4 million as compared to $23.3 million
  
• Cash distribution coverage⁽³⁾ of 1.43x on an as-declared basis

Management Comment

John T. Lewis, Chief Executive Officer of CONE Midstream GP LLC (the "General Partner"), said, "Our third quarter financial and operating results were in-line with expectations and reflected the benefit of our continued focus on improving efficiency and lowering costs.  Our results this quarter continued to benefit from the fourth quarter 2016 acquisition of the remaining 25% interest in the Anchor Systems.  As compared to the third quarter of 2016, Adjusted EBITDA increased by 28% and distributable cash flow was up by 26%.  These results keep us on-track to achieve full year 2017 results in line with our current EBITDA and DCF guidance."

Quarterly Distribution and Termination of Subordination Period

As previously announced, the Board of Directors of the General Partner declared a quarterly cash distribution of  $0.3025 per unit with respect to the third quarter of 2017.  The distribution payment will be made on November 14, 2017 to unitholders of record at the close of business on November 3, 2017. The distribution, which equates to an annual rate of $1.21 per unit, represents an increase of 3.5% over the prior quarter and an increase of 15% over the distribution paid with respect to the third quarter of 2016.

Upon the payment of the third quarter distribution, the financial tests required for conversion of the Partnership’s subordinated units will be met.  Accordingly, the Partnership’s 29,163,121 subordinated units will convert into common units on a one-for-one basis effective November 15, 2017, the first business day following the payment of the third-quarter distribution.  The conversion of the subordinated units will not impact the amount of cash distributions paid by the Partnership.

Capital Investment and Resources

CONE Midstream's allocated third quarter 2017 share of investment in expansion projects was $6.3 million. Total expansion capital investment at the three development companies in which CONE Midstream holds controlling interests was $7.0 million. CONE Midstream's respective share of maintenance capital expenditures for the three development companies for the third quarter of 2017 was $3.6 million.  Maintenance capital expenditures in the aggregate for the development companies in which CONE Midstream holds controlling interests totaled $4.4 million.

Based on actual capital expenditures for the year-to-date and currently projected capital expenditures during the fourth quarter, the Partnership is reducing its guidance for full year capital expenditures.  Management currently projects the full year 2017 capital expenditures net to the Partnership will be in the range of $48 to $52 million.

As of September 30, 2017,  CONE Midstream had outstanding borrowings of $157.0 million under its $250 million revolving credit facility and a cash balance of $3.8 million.

Third Quarter Financial and Operational Results Conference Call

A conference call and webcast, during which management will discuss third quarter 2017 financial and operational results and 2017 guidance, is scheduled for November 2, 2017 at 10:00 a.m. Eastern Time. Reference material for the call will be available on the "Events" page of our website, www.conemidstream.com, shortly before the start of the call.  Prepared remarks by members of management will be followed by a question and answer period.  Interested parties may listen via webcast by using the link posted on the "Events" page of our website or at  http://services.choruscall.com/links/cnnx171102.html. Participants who would like to ask questions may join the conference by phone at 888-349-0097 (international 412-902-0126) five to ten minutes prior to the scheduled start time (reference the CONE Midstream call).  An on-demand replay of the webcast will be also be available at  http://services.choruscall.com/links/cnnx171102.html shortly after the conclusion of the conference call.  A telephonic replay will be available through November 16, 2017 by dialing 877-344-7529 (international: 412-317-0088) and using the conference playback number 10113444.

_____________

⁽¹⁾ Unless otherwise indicated, the reporting measures included in this news release reflect the unallocated total activity of the three development companies jointly owned by the Partnership and CONE Gathering LLC (“CONE Gathering”).  The Partnership's current economic interests in the development companies are: 100% in the Anchor Systems, 5% in the Growth Systems, and 5% in the Additional Systems.  Because the Partnership owns a controlling interest in each of the three development companies, it fully consolidates their financial results. CONE Gathering is a midstream joint venture formed by CONSOL Energy Inc. and Noble Energy, Inc. that owns non-controlling interests in the Partnership’s development companies.

⁽²⁾  Effective November 16, 2016, the Partnership acquired the remaining 25% controlling interest in the Anchor Systems, which brought its controlling interest in that system to 100%.  As such, net results for the third quarter 2017 include 100% of the Anchor Systems, and net results for the third quarter 2016 include only 75% of the Anchor Systems.

⁽³⁾  Adjusted EBITDA and DCF are not measures that are recognized under accounting principles generally accepted in the U.S. (“GAAP”).  Definitions and reconciliations of these non-GAAP measures to GAAP reporting measures appear in the financial tables which follow.

Contact:  
Stephen R. Milbourne
CONE Investor Relations
Phone:
724-485-4408
Email:
smilbourne@conemidstream.com 

* * * * *

CONE Midstream Partners LP is a master limited partnership that owns, operates, develops and acquires gathering and other midstream energy assets to service natural gas production in the Appalachian Basin in Pennsylvania and West Virginia.  Our assets include natural gas gathering pipelines and compression and dehydration facilities, as well as condensate gathering, collection, separation and stabilization facilities. More information is available on our website www.conemidstream.com.

* * * * *

This press release serves a qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b).  Nominees should treat one hundred percent (100.0%) of  CONE Midstream’s distributions to non-U.S. investors as being attributed to income that is effectively connected with a United States trade or business.  Accordingly, CONE Midstream's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.  Nominees, and not CONE Midstream, are treated as withholding agents responsible for withholding on the distributions received by them on behalf of non-U.S. investors.

* * * * *

This press release contains forward-looking statements within the meaning of the federal securities laws.  Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words "will," "believe," "expect," "anticipate," "intend," "estimate" and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. You should not place undue reliance on forward-looking statements.  Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict, and there can be no assurance that actual outcomes and results will not differ materially from those expected by our management.  You should not place undue reliance on forward-looking statements.

Although forward-looking statements reflect our good faith beliefs at the time they are made, they involve known and unknown risks, uncertainties and other factors.  For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, including, among others, that our business plans may change as circumstances warrant, please refer to the "Risk Factors" and "Forward-Looking Statements" sections of our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.  We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.

* * * * *

CONE MIDSTREAM PARTNERS LP
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per unit data)
(unaudited)
	Three Months Ended September 30,								Nine Months Ended September 30,
	2017				2016				2017				2016
Revenue
Gathering revenue — related party	$	32,699			$	60,729			$	147,324			$	181,384
Gathering revenue — third party	23,959				—				24,826				—
Total Revenue	56,658				60,729				172,150				181,384
Expenses
Operating expense — related party	6,324				7,209				21,041				22,631
Operating expense — third party	6,332				7,769				18,922				24,322
General and administrative expense — related party	2,713				2,624				8,364				6,521
General and administrative expense — third party	995				1,049				3,115				3,196
Loss on asset sales	—				—				3,914				10,083
Depreciation expense	5,629				5,392				16,975				15,384
Interest expense	1,197				305				3,359				1,105
Total Expense	23,190				24,348				75,690				83,242
Net Income	33,468				36,381				96,460				98,142
Less: Net income attributable to noncontrolling interest	4,554				12,750				8,488				26,505
Net Income Attributable to General and Limited Partner Ownership Interest in CONE Midstream Partners LP	$	28,914			$	23,631			$	87,972			$	71,637
Calculation of Limited Partner Interest in Net Income:
Net Income Attributable to General and Limited Partner Ownership Interest in CONE Midstream Partners LP	$	28,914			$	23,631			$	87,972			$	71,637
Less: General partner interest in net income, including incentive distribution rights	1,504				473				3,938				1,433
Limited partner interest in net income	$	27,410			$	23,158			$	84,034			$	70,204
Net income per Limited Partner unit - Basic	$	0.43			$	0.40			$	1.32			$	1.20
Net Income per Limited Partner unit - Diluted	$	0.43			$	0.40			$	1.32			$	1.20
Limited Partner units outstanding - Basic	63,588				58,343				63,580				58,343
Limited Partner unit outstanding - Diluted	63,645				58,431				63,631				58,410
Cash distributions declared per unit (*)	$	0.3025			$	0.2630			$	0.8768			$	0.7620

(*)   Represents the cash distributions declared during the month following the end of each respective quarterly period.

CONE MIDSTREAM PARTNERS LP
CONSOLIDATED BALANCE SHEETS
(in thousands, except number of units)
(unaudited)
	September 30,  2017				December 31,  2016
ASSETS
Current Assets:
Cash	$	3,839			$	6,421
Receivables — related party	11,797				22,434
Receivables — third party	7,759				—
Other current assets	1,744				2,181
Total Current Assets	25,139				31,036
Property and Equipment:
Property and equipment	953,766				930,732
Less — accumulated depreciation	67,932				52,172
Property and Equipment — Net	885,834				878,560
Other assets	634				8,961
TOTAL ASSETS	$	911,607			$	918,557
LIABILITIES AND EQUITY
Current Liabilities:
Accounts payable	$	18,530			$	18,007
Accounts payable — related party	2,248				8,289
Total Current Liabilities	20,778				26,296
Other Liabilities:
Revolving credit facility	157,000				167,000
Total Liabilities	177,778				193,296
Partners' Capital:
Common units (34,426,482 units issued and outstanding at September 30, 2017 and 34,363,371 units issued and outstanding at December 31, 2016)	435,202				418,352
Subordinated units (29,163,121 units issued and outstanding at September 30, 2017 and December 31, 2016)	(52,136		)		(65,986		)
General partner interest	3,988				(2,311		)
Partners' capital attributable to CONE Midstream Partners LP	387,054				350,055
Noncontrolling interest	346,775				375,206
Total Partners' Capital	733,829				725,261
TOTAL LIABILITIES AND PARTNERS' CAPITAL	$	911,607			$	918,557

CONE MIDSTREAM PARTNERS LP
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
	Three Months Ended September 30,
	2017				2016
Cash Flows from Operating Activities:
Net Income	$	33,468			$	36,381
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense and amortization of debt issuance costs	5,671				5,434
Unit-based compensation	249				222
Other	513				429
Changes in assets and liabilities:
Receivables — related party	6,628				(2,874		)
Receivables — third party	(6,892		)		—
Other current and non-current assets	(2,986		)		(216		)
Accounts payable	1,771				572
Accounts payable — related party	(219		)		33
Net Cash Provided by Operating Activities	38,203				39,981
Cash Flows from Investing Activities:
Capital expenditures	(11,490		)		(6,742		)
Proceeds from sale of assets	7,531				237
Net Cash Used in Investing Activities	(3,959		)		(6,505		)
Cash Flows from Financing Activities:
Distributions to general partners and noncontrolling interest holders, net	(11,573		)		(13,167		)
Quarterly distributions to unitholders	(19,698		)		(15,209		)
Net payments on revolving credit facility	(4,000		)		(6,000		)
Net Cash Used In Financing Activities	(35,271		)		(34,376		)
Net Decrease in Cash	(1,027		)		(900		)
Cash at Beginning of Period	4,866				5,096
Cash at End of Period	$	3,839			$	4,196

CONE MIDSTREAM PARTNERS LP
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA AND DISTRIBUTABLE CASH FLOW
(in thousands)

Definition of Non-GAAP Financial Measures

EBITDA and Adjusted EBITDA

We define EBITDA as net income (loss) before net interest expense, depreciation and amortization, and Adjusted EBITDA as EBITDA adjusted for non-cash items which should not be included in the calculation of distributable cash flow. EBITDA and Adjusted EBITDA are used as supplemental financial measures by management and by external users of our financial statements, such as investors, industry analysts, lenders and ratings agencies, to assess:

• our operating performance as compared to those of other companies in the midstream energy industry, without regard to financing methods, historical cost basis or capital structure;
• the ability of our assets to generate sufficient cash flow to make distributions to our partners;
• our ability to incur and service debt and fund capital expenditures; and
• the viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities.

We believe that the presentation of EBITDA and Adjusted EBITDA provides information that is useful to investors in assessing our financial condition and results of operations. The GAAP measures most directly comparable to EBITDA and Adjusted EBITDA are net income and net cash provided by operating activities. EBITDA and Adjusted EBITDA should not be considered alternatives to net income, net cash provided by operating activities or any other measure of financial performance or liquidity presented in accordance with GAAP.  EBITDA and Adjusted EBITDA exclude some, but not all, items that affect net income or net cash, and these measures may vary from those of other companies. As a result, EBITDA and Adjusted EBITDA as presented herein may not be comparable to similarly titled measures that other companies may use.

Distributable Cash Flow

We define distributable cash flow as Adjusted EBITDA less net income attributable to noncontrolling interest, cash interest paid and maintenance capital expenditures, each net to the Partnership. Distributable cash flow does not reflect changes in working capital balances.

Distributable cash flow is used as a supplemental financial measure by management and by external users of our financial statements, such as investors, industry analysts, lenders and ratings agencies, to assess:

• the ability of our assets to generate cash sufficient to support our indebtedness and make future cash distributions to our unitholders; and
• the attractiveness of capital projects and acquisitions and the overall rates of return on alternative investment opportunities.

We believe that the presentation of distributable cash flow in this release provides information useful to investors in assessing our financial condition and results of operations. The GAAP measures most directly comparable to distributable cash flow are net income and net cash provided by operating activities. Distributable cash flow should not be considered an alternative to net income, net cash provided by operating activities or any other measure of financial performance or liquidity presented in accordance with GAAP. Distributable cash flow excludes some, but not all, items that affect net income or net cash, and these measures may vary from those of other companies. As a result, our distributable cash flow may not be comparable to similarly titled measures that other companies may use.

The following table presents a reconciliation of the non-GAAP measures of adjusted EBITDA and distributable cash flow to the most directly comparable GAAP financial measures of net income and net cash provided by operating activities.

		Three Months Ended September 30,								Nine Months Ended September 30,
(unaudited)		2017				2016				2017				2016
Net Income		$	33,468			$	36,381			$	96,460			$	98,142
Depreciation expense		5,629				5,392				16,975				15,384
Interest expense		1,197				305				3,359				1,105
EBITDA		40,294				42,078				116,794				114,631
Non-cash unit-based compensation expense		249				222				899				577
Loss on asset sales		—				—				3,914				10,083
Adjusted EBITDA		40,543				42,300				121,607				125,291
Less:
Net income attributable to noncontrolling interest		4,554				12,750				8,488				26,505
Depreciation expense attributable to noncontrolling interest		1,736				2,589				5,399				7,283
Other expenses attributable to noncontrolling interest		92				205				286				521
Loss on asset sales attributable to noncontrolling interest		—				—				3,718				9,579
Adjusted EBITDA Attributable to General and Limited Partner Ownership Interest in CONE Midstream Partners LP		$	34,161			$	26,756			$	103,716			$	81,403
Less:  cash interest paid, net		1,154				198				3,233				682
Less:  maintenance capital expenditures, net of reimbursements		3,579				3,283				11,175				9,234
Distributable Cash Flow		$	29,428			$	23,275			$	89,308			$	71,487
Net Cash Provided by Operating Activities		$	38,203			$	39,981			$	114,637			$	122,938
Interest expense		1,197				305				3,359				1,105
Loss on asset sales		—				—				3,914				10,083
Other, including changes in working capital		1,143				2,014				(303		)		(8,835		)
Adjusted EBITDA		40,543				42,300				121,607				125,291
Less:
Net income attributable to noncontrolling interest		4,554				12,750				8,488				26,505
Depreciation expense attributable to noncontrolling interest		1,736				2,589				5,399				7,283
Other expense attributable to noncontrolling interest		92				205				286				521
Loss on asset sales attributable to noncontrolling interest		—				—				3,718				9,579
Adjusted EBITDA Attributable to General and Limited Partner Ownership Interest in CONE Midstream Partners LP		$	34,161			$	26,756			$	103,716			$	81,403
Less:  cash interest paid, net		1,154				198				3,233				682
Less:  maintenance capital expenditures, net of reimbursements		3,579				3,283				11,175				9,234
Distributable Cash Flow		$	29,428			$	23,275			$	89,308			$	71,487

The following table presents a reconciliation of the non-GAAP measures adjusted EBITDA and distributable cash flow by quarter and for the most recently completed twelve month period with the most directly comparable GAAP financial measures, which are net income and net cash provided by operating activities.

(unaudited)		Q4 2016				Q1 2017				Q2 2017				Q3 2017				Twelve Months Ended September 30, 2017
Net Income		$	31,978			$	33,240			$	29,752			$	33,468			$	128,438
Depreciation expense		5,818				5,671				5,675				5,629				22,793
Interest expense		694				1,038				1,124				1,197				4,053
EBITDA		38,490				39,949				36,551				40,294				155,284
Non-cash unit-based compensation expense		198				283				367				249				1,097
Loss on asset sales		—				673				3,241				—				3,914
Adjusted EBITDA		38,688				40,905				40,159				40,543				160,295
Less:
Net income attributable to noncontrolling interest		7,130				3,173				761				4,554				15,618
Depreciation expense attributable to noncontrolling interest		2,313				1,830				1,833				1,736				7,712
Other expenses attributable to noncontrolling interest		100				82				112				92				386
Loss on asset sales attributable to noncontrolling interest		—				639				3,079				—				3,718
Adjusted EBITDA Attributable to General and Limited Partner Ownership Interest in CONE Midstream Partners LP		$	29,145			$	35,181			$	34,374			$	34,161			$	132,861
Less:  cash interest paid, net		628				1,000				1,079				1,154				3,861
Less:  maintenance capital expenditures, net of reimbursements		3,837				3,881				3,715				3,579				15,012
Distributable Cash Flow		$	24,680			$	30,300			$	29,580			$	29,428			$	113,988
Net Cash Provided by Operating Activities		$	37,151			$	34,176			$	42,258			$	38,203			$	151,788
Interest expense		694				1,038				1,124				1,197				4,053
Loss on asset sales		—				673				3,241				—				3,914
Other, including changes in working capital		843				5,018				(6,464		)		1,143				540
Adjusted EBITDA		38,688				40,905				40,159				40,543				160,295
Less:
Net income attributable to noncontrolling interest		7,130				3,173				761				4,554				15,618
Depreciation expense attributable to noncontrolling interest		2,313				1,830				1,833				1,736				7,712
Other expenses attributable to noncontrolling interest		100				82				112				92				386
Loss on asset sales attributable to noncontrolling interest		—				639				3,079				—				3,718
Adjusted EBITDA Attributable to General and Limited Partner Ownership Interest in CONE Midstream Partners LP		$	29,145			$	35,181			$	34,374			$	34,161			$	132,861
Less:  cash interest paid, net		628				1,000				1,079				1,154				3,861
Less:  maintenance capital expenditures, net of reimbursements		3,837				3,881				3,715				3,579				15,012
Distributable Cash Flow		$	24,680			$	30,300			$	29,580			$	29,428			$	113,988
Distributions Declared		$	18,004			$	18,842			$	19,698			$	20,573			$	77,117
Distribution Coverage Ratio - Declared		1.37		x		1.61		x		1.50		x		1.43		x		1.48		x
Distributable Cash Flow		$	24,680			$	30,300			$	29,580			$	29,428			$	113,988
Distributions Paid		$	15,827			$	18,004			$	18,842			$	19,698			$	72,371
Distribution Coverage Ratio - Paid		1.56		x		1.68		x		1.57		x		1.49		x		1.58		x

The following table presents a reconciliation of the non-GAAP measures of the Partnership's projected adjusted EBITDA and projected distributable cash flow with the most directly comparable GAAP financial measure, which is projected net income.  The following projections represent the approximate midpoint of the previously announced full year 2017 expected guidance ranges of adjusted EBITDA ($128-$138 million) and full year distributable cash flow ($105-$115 million) attributable to the Partnership.  CONE Midstream’s financial guidance is based on numerous assumptions about future events and conditions and, therefore, could vary materially from actual results.  These estimates are meant to provide guidance only and are subject to revision for acquisitions or operating environment changes.

(unaudited) (in millions)		Forecast 2017 (E)
Net Income		$	137.4
Depreciation expense		23.2
Interest expense		5.4
EBITDA		166.0
Non-cash unit-based compensation expense		0.8
Adjusted EBITDA		166.8
Less:
Net income attributable to noncontrolling interest		17.4
Depreciation and other expenses attributable to noncontrolling interest		16.2
Adjusted EBITDA Attributable to General and Limited Partner Ownership Interest in CONE Midstream Partners LP		$	133.2
Less:  cash interest paid, net		5.1
Less:  maintenance capital expenditures, net of reimbursements		17.5
Distributable Cash Flow		$	110.6

The Partnership is unable to project net cash provided by operating activities or provide the related reconciliation of projected net cash provided by operating activities to projected distributable cash flow, the most comparable financial measure calculated in accordance with GAAP, because net cash provided by operating activities includes the impact of changes in operating assets and liabilities. Changes in operating assets and liabilities relate to the timing of the Partnership’s cash receipts and disbursements that may not relate to the period in which the operating activities occurred, and the Partnership is unable to project these timing differences with any reasonable degree of accuracy.

Development Companies Jointly Owned by CONE Midstream Partners LP
Operating Income Summary, Selected Operating Statistics and Capital Investment
(in thousands)
(unaudited)
	Three Months Ended September 30, 2017
	Development Company
	Anchor				Growth				Additional				TOTAL
Income Summary
Revenue	$	45,729			$	1,967			$	8,962			$	56,658
Expenses	17,053				2,333				3,804				23,190
Net Income	28,676				(366		)		5,158				33,468
Less: Net income attributable to noncontrolling interest	—				(347		)		4,901				4,554
Net Income Attributable to General and Limited Partner Ownership Interest in CONE Midstream Partners LP	$	28,676			$	(19	)		$	257			$	28,914
Operating Statistics - Gathered Volumes
Dry gas (BBtu/d)	562				45				5				612
Wet gas (BBtu/d)	364				4				218				586
Condensate (MMcfe/d)	6				—				2				8
Total Gathered Volumes	932				49				225				1,206
Total Volumes Net to CONE Midstream Partners LP	932				3				11				946
Capital Investment
Maintenance capital	$	3,533			$	197			$	719			$	4,449
Expansion capital	6,234				(83		)		890				7,041
Total Capital Investment	$	9,767			$	114			$	1,609			$	11,490
Capital Investment Net to CONE Midstream Partners LP
Maintenance capital	$	3,533			$	10			$	36			$	3,579
Expansion capital	6,234				(4		)		45				6,275
Total Capital Investment Net to CONE Midstream Partners LP	$	9,767			$	6			$	81			$	9,854

Development Companies Jointly Owned by CONE Midstream Partners LP
Operating Income Summary, Selected Operating Statistics and Capital Investment
(in thousands)
(unaudited)
	Three Months Ended September 30, 2016
	Development Company
	Anchor						Growth						Additional						TOTAL
Income Summary
Revenue	$			50,005			$			2,587			$			8,137			$			60,729
Expenses	18,846						1,475						4,027						24,348
Net Income	31,159						1,112						4,110						36,381
Less: Net income attributable to noncontrolling interest	7,790						1,055						3,905						12,750
Net Income Attributable to General and Limited Partner Ownership Interest in CONE Midstream Partners LP	$			23,369			$			57			$			205			$			23,631
Operating Statistics - Gathered Volumes
Dry gas (BBtu/d)	767						61						14						842
Wet gas (BBtu/d)	331						5						177						513
Condensate (MMcfe/d)	4						—						5						9
Total Gathered Volumes	1,102						66						196						1,364
Total Volumes Net to CONE Midstream Partners LP	827						3						10						840
Capital Investment
Maintenance capital	$			4,308			$			465			$			568			$			5,341
Expansion capital	560						—						841						1,401
Total Capital Investment	$			4,868			$			465			$			1,409			$			6,742
Capital Investment Net to CONE Midstream Partners LP
Maintenance capital	$			3,231			$			23			$			29			$			3,283
Expansion capital	420						—						42						462
Total Capital Investment Net to CONE Midstream Partners LP	$			3,651			$			23			$			71			$			3,745

 

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.