Noble Midstream Agrees to Chevron Buyout in $1.32 Billion All-stock Deal

Chevron said it had reached the buyout agreement with Noble Midstream on March 5, roughly a month after announcing a slightly smaller offer to buy out the pipeline operator.

Noble Midstream Agrees to Chevron Buyout in $1.32 Billion All-stock Deal

Chevron became Noble Midstream’s largest customer following its all-stock acquisition of Noble Energy last year. (Source: Chevron Corp.)

Noble Midstream LP has agreed to Chevron Corp.’s offer to acquire all shares of Noble Midstream it doesn’t already own in an all-stock transaction valued at roughly $1.32 billion.

The U.S. oil major said it had reached the agreement with Noble Midstream on March 5, roughly a month after announcing a slightly smaller offer to buy out the pipeline operator.

Chevron became Noble Midstream’s largest customer following its all-stock acquisition of Noble Energy last year. The U.S. oil major cited increased alignment on governance of the Noble Midstream assets as the primary strategic rationale.

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.