Noble Midstream Partners said the partnership has entered into an agreement with a Chevron Corporation subsidiary to provide oil transmission services from the Wells Ranch development area to Platteville, Colorado, for long-haul transportation out of the DJ Basin.
Noble Midstream will now be responsible for substantially all crude oil gathering and intermediate oil transportation services from the Wells Ranch development area.
Concurrent with this new transmission service, Noble Midstream has executed a capacity lease with a subsidiary of Energy Transfer LP for capacity on Energy Transfer’s Wattenberg Oil Trunkline (WOT).
The partnership has contracted for the ability to utilize a substantial portion of the capacity on this in-service pipeline through 2031.
The WOT pipeline terminates in Platteville, Colorado, where Noble Midstream has extensive existing infrastructure and storage with access to all four major long-haul pipelines in the DJ Basin.
The WOT capacity lease highlights Noble Midstream’s strategy to seek highly accretive and capital-efficient opportunities to best serve customer needs. Additionally, this transaction furthers the partnership’s objective to high-grade and diversify its cash flow profile. For more information visit www.nblmidstream.com
