DALLAS, Feb. 16, 2011 /PRNewswire/ -- Alerian announced today that Chesapeake Midstream Partners LP (NYSE: CHKM) is expected to be added to the Alerian MLP Index (NYSE: AMZ), replacing Penn Virginia GP Holdings LP (NYSE: PVG) in a special rebalancing.
Special rebalancings are triggered by corporate actions that result in the termination of trading of an index constituent on a major US exchange. Such corporate actions include, but are not limited to, mergers, delistings, and bankruptcies. Subject to unitholder approval, PVG will cease to trade on the New York Stock Exchange due to its merger with Penn Virginia Resource Partners LP (NYSE: PVR).
Chesapeake owns, operates, develops, and acquires natural gas gathering systems and other midstream energy assets. The partnership's operations are focused on the Barnett Shale, Haynesville Shale, and Mid-Continent regions of the United States.
CHKM Shares Outstanding: 138,159,387
CHKM Investable Weight Factor: 0.173341639734666
The 50 constituents of the index will be rebalanced on a float-adjusted, capitalization-weighted basis in accordance with the existing index methodology. Constituent additions to and deletions from the index do not reflect an opinion by Alerian on the investment merits of the respective securities.
About the Alerian MLP Index
The Alerian MLP Index is a composite of the 50 most prominent energy Master Limited Partnerships that provides investors with an unbiased, comprehensive benchmark for this emerging asset class. The index, which is calculated using a float-adjusted, capitalization-weighted methodology, is disseminated real-time on a price-return basis (NYSE: AMZ) and on a total-return basis (NYSE: AMZX). For index values, yields, constituents, and announcements regarding rebalancings, please visit www.alerian.com.
Alerian is an independent company that provides objective market information. The company is a leader in MLP-market intelligence, providing benchmarks, data sets, and analytics that are used extensively by a range of stakeholders such as investment banks, stock exchanges, investment professionals, consultants, and Master Limited Partnerships. The Alerian Index Series is used for the purposes of asset allocation, investment analysis, portfolio hedging, and the creation of index tracking funds. Alerian is widely known for maintaining the leading benchmark of MLP equities: the Alerian MLP Index (NYSE: AMZ). For more information, please visit www.alerian.com.