Shell Midstream Up 39% On First Day Of Trading

MarketWatch Pulse

Shell Midstream Partners LP opened at $32.01 a unit on Wednesday and was recently up 39% at $31.78. The company's initial public offering of 40 million units raised $920 million. Created by Royal Dutch Shell to own, run, and acquire pipelines and other so-called "midstream" assets, which involve oil and gas transportation and storage, it priced the offering at $23 per unit on Tuesday, above the projected price range of $19 to $21 per unit. Shell Midstream is a master limited partnership, which are mostly energy infrastructure companies.

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