Cushing Asset Management and Swank Capital Announce a Constituent Change to The Cushing 30 MLP Index

PRNewswire 8-Jan-2019 9:02 AM

DALLAS, Jan. 8, 2019 /PRNewswire/ -- Cushing^® Asset Management, LP, and Swank Capital, LLC, announce an upcoming interim change to the constituents of The Cushing^® 30 MLP Index (the "Index"). On November 26, 2018, Index constituent Dominion Energy Midstream Partners, LP (NYSE:DM) entered into an Agreement and Plan of Merger ("Merger Agreement") with Dominion Energy, Inc. (NYSE:D) and various other entities that would result in DM common units ceasing to be publicly traded, subject to the approval of the holders of at least a majority of the DM common units. Dominion Energy has disclosed that entities holding a majority of common units of DM have agreed to deliver written consents approving the Merger Agreement and, accordingly, the merger may be completed as soon as January 15, 2019. Per the Index's methodology guide, after the market closes on January 14, 2019, and effective on January 15, 2019, Western Gas Equity Partners, LP (NYSE:WGP) will replace DM as a constituent of the Index at DM's then-current weight.

There will be no changes to the remaining constituents of the Index due to this event.

ABOUT THE CUSHING^® 30 MLP INDEX

The Cushing^® 30 MLP Index tracks the performance of 30 publicly traded midstream energy infrastructure companies, including master limited partnerships (MLPs) and non-MLP energy midstream corporations (each, a "Midstream Company" and collectively, "Midstream Companies"). Constituents of the Index are selected by using a formula-based proprietary valuation model developed by Cushing^® Asset Management, LP to rank Midstream Companies for potential inclusion in the Index. The Index price level is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "MLPX".

ABOUT CUSHING^® ASSET MANAGEMENT AND SWANK CAPITAL

Cushing^® Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of Midstream Companies and other natural resource companies.

Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing^® MLP Market Cap Index (OTC:CMCI), The Cushing^® MLP High Income Index (ARCA:MLPY), The Cushing^® Energy Index (TICKER:CENI), The Cushing^® Energy Supply Chain Index (TICKER:CSCI), The Cushing^® Transportation Index (TICKER:CTRI) and The Cushing^® Utility Index (TICKER:CUTI). For more information, please visit http://www.cushingasset.com/indices.

Contact:
Judson Redmond
214-692-6334
www.cushingasset.com

The Cushing^® 30 MLP Index (the "Index") is the exclusive property of Swank Capital, LLC, and Cushing Asset Management, LP, which have contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to calculate and maintain the Index. S&P^® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"); Dow Jones^® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and, these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Swank Capital, LLC, and Cushing Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.

CUSH-MLPX

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SOURCE Cushing Asset Management, LP; Swank Capital, LLC