Porter Hedges Represents Noble Energy in its $1.225B Divestiture of Marcellus Shale Assets
Porter Hedges represented Noble Energy, Inc. (NYSE: NBL) ("Noble Energy") in its divestiture of all of its upstream assets in northern West Virginia and southern Pennsylvania to an undisclosed buyer for a total amount of $1.225 billion.
According to Noble Energy, this transaction allows the company to focus on its significantly expanded inventory of investment opportunities in liquids-rich, higher-margin onshore assets.
The Marcellus acreage will retain its dedication to CONE Midstream (NYSE: CNNX) for natural gas gathering. Noble Energy's interest in CONE Midstream is not included in the transaction.
The Porter Hedges team included energy partners Randy King and Jeremy Mouton with associates Denny Ng, Maggie Phipps, and David Mann.
For additional details about the transaction, please visit the Noble Energy press release here.
In the Press:
"Houston energy co. sells Marcellus assets for more than $1B," Houston Business Journal