Chevron Announces Agreement To Acquire Noble Midstream Partners
SAN RAMON, CALIF.--(BUSINESS WIRE)--
Chevron Corporation (NYSE: CVX) (“
Chevron”) and Noble Midstream Partners, LP (NASDAQ: NBLX) (“
Noble Midstream”) announced today that they have entered into a definitive agreement for Chevron to acquire all (33.925 million) of the publicly held common units representing the limited partner interests in Noble Midstream, not already owned by Chevron and its affiliates (the “
Common Units”), in an all-stock transaction whereby each outstanding unitholder of Noble Midstream would receive 0.1393 of a share of common stock of Chevron in exchange for each Common Unit owned.
“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,” said Colin Parfitt, Vice President of Chevron Midstream and Chairman of the Board of Directors (the “