Noble Energy Streamlines Midstream Assets With $1.6B Deal

By Elise Hansen (November 15, 2019, 3:13 PM EST) -- Noble Energy said Friday it would simplify its business by selling its midstream assets to a Noble partnership in a roughly $1.6 billion deal steered by Mayer Brown LLP, Baker Botts LLP and Vinson & Elkins LLP.

The deal will see Noble Energy Inc. sell off nearly all of its midstream assets to Noble Midstream Partners LP, a master limited partnership set up by Noble Energy to own and operate U.S. midstream infrastructure assets, the announcement said. The transaction will also eliminate Noble's incentive distribution rights, making it one of several companies to make changes to IDR arrangements in recent years....

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