Reportedly, Chevron Corporation (CVX) has offered to buy the shares of Noble Midstream Partners LP that it does not already own for about $422 million, further tightening the integrated relationship. Chevron owns a majority of Noble Midstream with a 62% stake following its last year’s acquisition of Noble Energy Inc.
The California-based oil giant informed that an all-stock transaction values Noble Midstream at $12.47 per common unit, as per the most recent closing price of Noble Midstream Partners LP (NBLX) common Units as of February 4, 2021. Any agreement will be subject to approval and negotiations by Noble Midstream’s board of directors.
Noble Midstream provides natural gas, water-related midstream service, and crude oil and owns equity interests in pipelines in the DJ Basin in Colorado and the Delaware Basin.
Dow 30 component Chevron Corporation (CVX), through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. To learn more about Chevron (CVX) and to track their progress please visit the Vista Partners Chevron Page.
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