Chesapeake Midstream Becomes Access Midstream
OKLAHOMA CITY – Chesapeake Midstream Partners L.P. has changed its name to Access Midstream Partners L.P., now a subsidiary of Global Infrastructure Partners, the company announced Tuesday.
"Today's announcement is another milestone in the history of the partnership," said J. Mike Stice, CEO of Access Midstream.
On June 29, Global Infrastructure Partners completed the acquisition of Chesapeake Energy Corp.'s interest in the company. Chesapeake sold its former subsidiary to Global for $2 billion in a deal announced in early June.
"Now, as a full independent publicly traded partnership, we are completing the ownership transition process by announcing our new partnership name," Stice said.
The company's symbol on the New York Stock Exchange was changed to ACMP. Access Midstream also announced the launch of its new website,.
Access Midstream is active in the Utica and Marcellus shale regions of Ohio and western Pennsylvania. Access, then Chesapeake Midstream, announced in March a partnership with Momentum/M3 Midstream and EV Energy Partners to construct a $900 million processing and gathering system in eastern Ohio.
According to M3 Midstream, two new processing plants would be constructed in southern Columbiana County near Kensington, and another in Harrison County. Hundreds of miles of pipeline would also be constructed throughout the region to gather natural gas liquids from wells owned by Chesapeake Energy Corp. and other energy companies drilling in the Utica shale.
Construction on the Kensington plant is expected to begin sometime in August or early September.
Copyright 2015 Youngstown Publishing Co. DBA The Business Journal
Developed by Tyler Clark.