Noble Energy sells Marcellus midstream business for $765M
May 18, 2017 8:08 AM ET|About: Noble Energy, Inc. (NBL)|By: Carl Surran, SA News Editor
Noble Energy (NYSE:NBL) agrees to sell the holding company which owns a 50% interest in CONE Gathering and 21.7M common and limited partnership units to Quantum Energy Partners for $765M.
NBL says the LP units represent a 33.5% ownership interest in CONE Midstream Partners (NYSE:CNNX).
NBL says that including the sale, it would realize more than $1B in total value from its Marcellus midstream business, but it plans to focus its midstream efforts on Noble Midstream Partners and supporting its DJ Basin and Delaware Basin growth areas.