Noble Midstream Partners LP Launches Initial Public Offering
Houston, Nov. 12, 2015 (GLOBE NEWSWIRE) --
Noble Midstream Partners LP (“Noble Midstream”) today announced that it has commenced its initial public offering of 12,500,000 common units representing limited partner interests in Noble Midstream, at an anticipated initial public offering price between $19.00 and $21.00 per common unit, pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the “SEC”). Noble Midstream expects to grant the underwriters a 30-day option to purchase up to an additional 1,875,000 common units at the initial public offering price. The common units are expected to trade on the New York Stock Exchange under the ticker symbol “NBLX.”
The common units being offered to the public represent an approximate 34 percent limited partner interest in Noble Midstream, or an approximate 39 percent limited partner interest if the underwriters exercise, in full, their option to purchase additional common units. Noble Energy, Inc. (“Noble Energy”) and certain of its subsidiaries will own the remaining limited partner interest in Noble Midstream and all of its incentive distribution rights and will serve as Noble Midstream’s general partner.
Barclays, Baird, J.P. Morgan, BofA Merrill Lynch, Citigroup, Deutsche Bank Securities and Wells Fargo Securities are acting as book-running managers for the offering and Barclays and Baird are acting as structuring fee agents for the offering. The offering of these securities is being made only by means of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933. When available, a copy of the preliminary prospectus may be obtained from:
When available, to obtain a copy of the preliminary prospectus free of charge, visit the SEC's website at www.sec.gov.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About Noble Midstream
Noble Midstream is a growth-oriented Delaware master limited partnership recently formed by its sponsor, Noble Energy, to own, operate, develop and acquire a wide range of domestic midstream infrastructure assets. Noble Midstream's initial assets will consist of certain of Noble Energy’s DJ Basin crude oil, natural gas and water-related midstream services.
Forward Looking Statements
This press release may include forward-looking statements within the meaning of the federal securities laws. Statements that do not relate strictly to historical or current facts are forward-looking. These statements contain words such as "possible," "if," "will" and "expect" and involve risks and uncertainties including, among others, that Noble Midstream's business plans may change as circumstances warrant and securities of Noble Midstream may not ultimately be sold to the public because of general market conditions or other factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Noble Midstream’s prospectus and SEC filings. Noble Midstream undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Chief Financial Officer
(November 12, 2015 - 7:27 AM EST)
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