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Chesapeake Midstream Partners, L.P. (CHKM) announced that the Board of Directors of its general partner has approved changing the Partnership's name to Access Midstream Partners, L.P. The Board has also approved changing the Partnership's ticker symbol for its common units traded on the New York Stock Exchange to "ACMP." The new ticker symbol is effective, July 24, 2012 prior to the opening of the exchange.
J. Mike Stice, Chief Executive Officer of the Partnership's general partner, commented, "The announcement is another milestone in the history of the Partnership. On June 29, 2012, Global Infrastructure Partners completed the acquisition of Chesapeake Energy Corporation's ownership interest in the Partnership. As a fully independent publicly traded partnership, we are completing the ownership transition process by announcing our new Partnership name. The Board of Directors and the management team believe the new name reflects the Partnership's ability to provide producers reliable access to quality downstream markets and to provide investors access to growth in distributions and superior total returns."
Three new directors were also appointed to the Board: J. Mike Stice; Robert S. Purgason, Chief Operating Officer of the Partnership's general partner; and William J. Brilliant, Principal of Global Infrastructure Partners. These new directors join the directors remaining on the Board, including David A. Daberko, Domenic J. Dell'Osso, Jr., Philip L. Frederickson, Matthew C. Harris, Suedeen G. Kelly and William A. Woodburn. Information about each of the Board's newly appointed and continuing directors is available on the Partnership's website.
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