May 2, 2017 / 11:17 AM / 3 months ago

BRIEF-Noble Energy sells upstream Appalachia natural gas assets

1 Min Read

May 2 (Reuters) - Noble Energy Inc

* Deal for $1.225 billion

* Amount includes upfront cash of $1.125 billion and an additional contingent amount of $100 million

* Noble energy sells upstream appalachia natural gas assets

* Noble energy - deal amount includes upfront cash of $1.125 billion and an additional contingent amount of $100 million, structured as 3 separate payments of $33.3 million

* Proceeds from deal to be used to pay down essentially all of debt borrowings resulting from Clayton Williams energy deal

* Signed definitive agreement to divest all of its upstream assets in northern West Virginia, Southern Pennsylvania to an undisclosed buyer

* Marcellus acreage will retain its dedication to cone midstream for natural gas gathering

* Noble Energy's interest in cone midstream is not included in transaction.

* BofA Merrill lynch acted as financial advisor to noble energy and porter & hedges served as legal counsel Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below