Swank Capital and Cushing® Asset Management Announce a Potential Constituent Change to The Cushing® MLP Market Cap Index

Swank Capital and Cushing® Asset Management Announce a Potential Constituent Change to The Cushing® MLP Market Cap Index

Dallas, Texas (November 24, 2015) Swank Capital, LLC and Cushing® Asset Management, LP announce a potential interim change and special rebalancing of The Cushing® MLP Market Cap Index (the “Index”). Index constituent MarkWest Energy Partners, L.P. (NYSE: MWE) previously entered into an Agreement and Plan of Merger with MPLX LP (NYSE: MPLX) wherein MWE would be acquired by MPLX, subject to the approval of MWE unitholders. A special meeting of the unitholders of MWE is scheduled for December 1, 2015, at 9:00 AM Mountain Standard Time for the purpose of considering and voting on the proposed acquisition.

Should the acquisition be approved, MWE will be removed from the Index and replaced with Spectra Energy Partners, LP (NYSE: SEP) after the markets close on December 1, 2015. Additionally, because MWE is an incumbent constituent with a weighting exceeding 3.5%, all constituent weightings will be adjusted as shown below. The changes will be effective on December 2, 2015.

If the acquisition is not approved, there will be no change to the constituents of the Index or to Index constituent weightings.

Cushing® MLP Market Cap Index constituents (effective December 2, 2015, if acquisition approved by MWE unitholders on December 1, 2015):

Company Name
Ticker
Index Weight
Status
Enterprise Products Partners, L.P.
EPD
7.50%
Existing
Energy Transfer Equity, L.P.
ETE
7.50%
Existing
Energy Transfer Partners, L.P.
ETP
7.50%
Existing
Magellan Midstream Partners, L.P.
MMP
7.50%
Existing
The Williams Companies, Inc.
WMB
7.50%
Existing
Plains All American Pipeline, L.P.
PAA
6.23%
Existing
Buckeye Partners, L.P.
BPL
5.67%
Existing
Williams Partners, L.P.
WPZ
4.92%
Existing
ONEOK, Inc.
OKE
3.93%
Existing
Sunoco Logistics Partners, L.P.
SXL
3.63%
Existing
Enbridge Energy Partners, L.P.
EEP
3.57%
Existing
ONEOK Partners, L.P.
OKS
3.51%
Existing
Targa Resources Partners, L.P.
NGLS
2.54%
Existing
EQT Midstream Partners, LP
EQM
2.48%
Existing
Western Gas Partners, L.P.
WES
2.47%
Existing
Genesis Energy, L.P.
GEL
2.43%
Existing
AmeriGas Partners, L.P.
APU
2.35%
Existing
Spectra Energy Partners, LP
SEP
2.26%
NEW
NuStar Energy, L.P.
NS
2.03%
Existing
Tesoro Logistics LP
TLLP
1.91%
Existing
Plains GP Holdings, L.P.
PAGP
1.60%
Existing
TC PipeLines, LP
TCP
1.54%
Existing
DCP Midstream Partners, L.P.
DPM
1.51%
Existing
Targa Resources Corp.
TRGP
1.38%
Existing
EnLink Midstream Partners, LP
ENLK
1.37%
Existing
Suburban Propane Partners, L.P.

SPH

1.18%
Existing
Enbridge Energy Management, L.L.C.
EEQ
1.05%

Existing

Boardwalk Pipeline Partners, L.P.

BWP

1.02%

Existing
Tallgrass Energy Partners, LP
TEP
0.97%
Existing
NGL Energy Partners LP
NGL
0.95%
Existing

Constituent removed (effective December 2, 2015, if acquisition approved by MWE unitholders on December 1, 2015):

Company Name
Ticker
MarkWest Energy Partners, L.P.
MWE

ABOUT THE CUSHING® MLP MARKET CAP INDEX

The Cushing®MLP Market Cap Index provides a benchmark that is designed to track the performance of widely held master limited partnerships (MLPs). The Index is weighted on a float-adjusted market capitalization basis, with the weight of each constituent capped at 7.5% at rebalance. The Index price level is calculated by S&P Dow Jones Indices while the constituents are selected from the entire universe of publicly traded MLPs. The Cushing® MLP Market Cap Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker “CMCI”.

ABOUT SWANK CAPITAL AND CUSHING® ASSET MANAGEMENT

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 MLPs 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® 30 MLP Index (Bloomberg Ticker: MLPX), The Cushing® MLP High Income Index (Bloomberg Ticker: MLPY) and The Cushing® Upstream Energy Income Index (Bloomberg Ticker: CRTY). For more information, please visit www.swankcapital.com/the-cushing-indices.

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

Source: Cushing® Asset Management, LP and Swank Capital, LLC

The Cushing® MLP Market Cap Index (the “Index”) is the exclusive property of Cushing Asset Management, LP, which has 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 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.