Chevron to acquire remaining shares of Noble Midstream Partners

09 Mar 2021

Chevron has reached a definitive agreement with Noble Midstream Partners to acquire all the remaining shares that it does not already own in Noble Midstream, in an all-stock transaction valued at US$1.3bn (£94bn).

Noble Midstream is a limited partnership between Noble Energy and majority-owned by Chevron to own, operate, develop and acquire domestic midstream infrastructure assets. The firm is engaged in providing 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.

Under the terms of the agreement, Noble Midstream shareholders are expected to receive 0.1393 per share from Chevron common stock, in exchange for each common share held.

Chevron’s subsidiary has voted to approve the transaction, as a majority shareholder of the outstanding common stock. Closing of the transaction is expected in the second quarter of 2021, subject to customary approvals.

Read more from Industry News
Statkraft to build its first wind farms in Chile
Read More
McDermott completes engineering for two expandable hydrogen facilities
Read More
Aramco signs US$12.4bn infrastructure investment deal with EIG-led consortium
Read More

Newsletter Sign Up

As a non-member, you can sign up for the EICOnline weekly bulletin free of charge. EIC Online delivers industry news direct to your mailbox. Subscribe here for the EIC’s free weekly newsletter.

First Name
Last Name
Company Name
Email
Job Title
Areas of Interest

Thank you for your submission!

We will contact you shortly.