OilVoice  Oct 7  Comment 
Crestwood Midstream Partners LP NYSE CMLP and Crestwood Holdings LLC and Inergy L.P. NYSE NRGY and Inergy Midstream L.P. NYSE NRGM announced that Crestwood39s unitholders have overwhelmi
TheStreet.com  Sep 13  Comment 
span.style4 {font-size: 10px; font-weight: bold; } span.style5 {font-size: 10px} By Jonathan Moreland, founder of Insider Insights and author of Profit From Legal Insider Trading. NEW YORK (TheStreet) -- It is a victory for common...
StreetInsider.com  Sep 10  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/Inergy+Midstream+%28NRGM%29+Prices+11M+Offering+at+%2422.50Unit/8674308.html for the full story.
Benzinga  Sep 9  Comment 
Inergy Midstream, L.P. (NYSE: NRGM), a Delaware limited partnership (“Inergy Midstream”), announced today the commencement, subject to market conditions, of an underwritten public offering of 11,000,000 common units representing limited...
OilVoice  Sep 4  Comment 
Inergy Midstream L.P. NYSENRGM and Enserco Midstream LLC announced that they have formed a joint venture to own and operate a crude oil rail terminal located in Douglas County Wyoming 39Doug
OilVoice  Aug 6  Comment 
Inergy Midstream L.P. NYSENRGM reported results of operations for the quarter ended June 30 2013 the third quarter of fiscal 2013. Inergy Midstream reported Adjusted EBITDA of 47.7 million for
StreetInsider.com  Aug 6  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/Inergy+Midstream+%28NRGM%29+Misses+Q1+EPS+by+15c/8569598.html for the full story.
OilVoice  Aug 2  Comment 
Inergy L.P. NYSENRGY and Inergy Midstream L.P. NYSENRGM announced that David M. Wood has been appointed to the Board of Directors of Inergy GP LLC the general partner of Inergy L.P. and NR
Benzinga  Jun 21  Comment 
In a report published Friday, Bank of America analyst Gabe Moreen reiterated a Buy rating on Inergy (NYSE: NRGY), but lowered the price target from $25.00 to $18.00. In the report, Bank of America noted, “On 6 May 2013, Crestwood Midstream...
StreetInsider.com  May 14  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/Inergy+Midstream+%28NRGM%29+Commences+Consent+Solicitation+on+6%25+Senior+Notes/8337688.html for the full story.


Inergy Midstream (NYSE:NRGM) is a limited partnership that was fromed by Inergy, L.P. (NRGY). The LP was created to own and develop energy assets, in particular, natural gas and NGL storage and transportation. The LP is focused in the northeastern region of the US and makes money by charging a fee for storing or transporting the natural gas across regions of the northeast. The company plans to continue to strategically develop its capacities in the region. [1]

Business Overview

For the full year 2011 ended in September, Inergy Midstream LP generated $111M in revenue. This resulted in a net income of $42M. This compares to $95M in revenues and $31M in net income for 2010.[2]

New Updates

The company's initial public offering of stock on the NYSE occurred on December 15, 2011. The company offered 16M shares each for $17. This was below the $19-$21 price range. The deal raised a total of $272M. The lead mangers of the deal were Morgan Stanley, Barclays, BofA Merrill Lynch, Credit Suisse, and Wells Fargo.[3]

Trends & Forces

Dependence on Third Parties

Inergy Midstream relies on connections with third party pipelines which are connected to their pipelines and storage facilities. This dependence means that the capabilities, reliability, and fees that Inergy generates depend on the ability of the third party pipelines to also remain competitive. Interruptions in a third party pipeline could inflict significant disruptions on Inergy Midstream's activities. [4]

  1. NRGM S-1/A 2011 PROSPECTUS SUMMARY "Overview" pp. 1-3
  2. NRGM S-1/A 2011 PROSPECTUS SUMMARY "Summary Historical and Pro Forma Financial and Operating Data" pp. 15-16
  3. Renaissance Capital - IPO Home "Inergy Midstream prices IPO at $17, below the range" 15 Dec 2011
  4. NRGM S-1/A 2011 PROSPECTUS SUMMARY "Risk Factors" pp. 19-23
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