Brief Analysis
If the $1.1 billion deal goes ahead, it will strengthen Abu Dhabi’s claim to be a player in the East Mediterranean.
On April 26, Israeli company Delek announced that it had signed a memorandum of understanding with the energy arm of Mubadala, the sovereign wealth fund of the United Arab Emirates, which tentatively agreed to take over the firm’s 22 percent ownership stake in the Tamar offshore natural gas field. Delek has been trying to sell its stake for some time in order to meet government anti-monopoly requirements, since the company is also invested in Israel’s larger Leviathan gas field. Earlier this month, media reports speculated that Cairn Energy of the United Kingdom was interested in the share, but now Abu Dhabi will become the partner if the deal goes through.
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Chevron to acquire all of Noble Energy s midstream unit, including Weld County pipelines – BizWest
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Chevron offers to buy Houston pipeline operator Noble Midstream Partners Marcy de Luna, Houston Chronicle © Richard Drew, STF / Associated Press
Chevron Corp. acquired Noble Energy in a $4.1 billion all-stock transaction one of the biggest deals in the oil industry this year that closed in October 2020.
Chevron on Friday said it has offered to buy outstanding shares of Houston pipeline operator Noble Midstream Partners LP in an all-stock deal just months after buying Noble Energy, which formed the offshoot in 2014.
Chevron offered shares of its common stock, valued at $12.47 per common unit, to pay for the transaction.
Chevron is the majority owner of Noble Midstream with a 62 percent stake in the company after the California-based oil and gas company acquired Houston-based Noble Energy in a $4.1 billion all-stock transaction that closed in Oct. 2020.