Noble Midstream to Purchase Noble Energy Midstream Assets for $1.6 Billion
Noble Midstream Partners LP (Noble Midstream) announced it has entered into a definitive agreement to acquire the incentive distribution rights (IDRs) and substantially all of Noble Energy’s (Noble Energy) remaining midstream interests for $1.6 billion.
Noble Midstream Partners has acquired the Noble Energy L.P. interests in the Green River, Blanco River and San Juan River DevCos.
At close of the Transactions, Noble Midstream will own 100% of these aforementioned DevCos and will service substantially all of Noble Energy’s U.S. onshore activity in the DJ and Delaware Basins. 90% of NBL 2019 U.S. onshore capital is expected to be invested in these two basins.
In addition to the DevCo interests, Noble Midstream has acquired NBL Holdings, which owns Noble Energy’s East Pony gas gathering complex in the DJ Basin and the Clayton Williams gathering system in the Delaware Basin.
The East Pony gas gathering system includes the Keota and Lilli gas processing plants and associated gas gathering pipelines. The two gas processing plants have a combined capacity of approximately 45 MMcf/d and are currently ~80% utilized. The plants can be expanded to a capacity of 60 MMcf/d through additional compression with minimal capital.
In addition, NBL Holdings owns the legacy Clayton Williams pipeline system, which includes more than 300 miles of oil, gas, and produced water gathering pipelines.
Upon closing of the acquisition, Noble Energy is expected to own a 63% limited partner interest in NBLX. The acquisition closed on November 14, 2019.
Related News
Related News
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Texas Oil Pipelines Near Max Capacity, Threatening Future Export Limits
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
- Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
- Alaska Greenlights Enstar’s $57 Million Pipeline to Boost LNG Imports
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
Comments