Will CONSOL Energy (CNX) Stock Rebound From Noble Energy (NBL) Pipeline Partnership?

NEW YORK (TheStreet) -- CONSOL Energy Inc. (CNX) announced earlier on Thursday that it agreed to a partnership with Noble Energy Inc. (NBL) to form a publically traded pipeline venture that will run natural-gas pipelines in the Marcellue Shale region of the U.S., the Associated Press reported.

The producer of coal and natural gas for global energy's stock rose 1.5% to $47.70 in pre-market trading today based off of the announcement, but then tanked after the bell, finishing the day down -4.64% to $44.82 on heavy volume.

The companies said they are planning to create a master limited partnership, and the offering should be completed by the end of the year.

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