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Chevron Completes Noble Midstream Buy

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Chevron and Noble Midstream Partners announced have completed the previously announced acquisition, which resulted in Noble Midstream becoming an indirect, wholly-owned subsidiary of Chevron.

The merger was initially announced in March. Noble Midstream is a master limited partnership originally formed by Noble Energy and majority-owned by Chevron Corporation to own, operate, develop, and acquire domestic midstream infrastructure assets. Noble Midstream currently provides crude oil, natural gas, and water-related midstream services and owns equity interests in oil pipelines in the DJ Basin in Colorado and the Delaware Basin in Texas.

 

 

Speaking at the time of the announcement, Colin Parfitt, vice-president of Chevron Midstream said: “We believe this buy-in transaction is the best solution for all stakeholders, enabling us to simplify the governance structure and capture value in support of our leading positions in the DJ and Permian basins.”

Effective with the opening of markets today, Noble Midstream’s common units will no longer be listed on the Nasdaq Global Select Market, and it will cease to be a publicly traded company.

For more information visit: www.chevron.com

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