Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2015 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events Distribution. On July 30, 2015, the board of directors of MLP GP, the Partnership's general partner, declared a quarterly cash distribution for the period April 1, 2015 through June 30, 2015, of $0.1675 per unit, or $16.9 million. This distribution is payable on August 20, 2015, to unitholders of record as of August 13, 2015. Separation. On June 2, 2015, NiSource's board of directors approved the distribution of all the shares of CPG to holders of NiSource common stock. In order to allow NiSource to effect the Separation, CPG requested, and the SEC declared effective, CPG's registration statement on Form 10 on June 2, 2015. Effective July 1, 2015, CPG authorized 317.6 million shares of common stock. On July 1, 2015, NiSource distributed 317.6 million shares, one share of CPG common stock for every one share of NiSource common stock, held by NiSource shareholders of record as of the close of business on June 19, 2015, the record date of the distribution. At the close of business on July 1, 2015, CPG became an independent, publicly traded company as a result of the distribution. CPG's common stock began trading "regular-way" under the stock ticker symbol "CPGX" on the NYSE on July 2, 2015. Gain on Conveyances. On December 29, 2014, CEVCO finalized an agreement with CNX Gas Company LLC, ("CNX"), a wholly owned subsidiary of CONSOL Energy, to lease approximately 20,000 acres of Utica Shale and Upper Devonian gas rights in Greene and Washington Counties in Pennsylvania and Marshall and Ohio Counties in West Virginia. Under the terms of the agreement, on July 1, 2015 CEVCO conveyed acres to CNX resulting in a bonus payment of $35.8 million. This amount will be recorded as a gain on conveyances in the third quarter of 2015. |