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.
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