Noble Midstream Partners LP (NYSE:NBLX) ("Noble Midstream") today announced that the initial public offering of 14,375,000 common units representing limited partner interests in Noble Midstream at a public offering price of $22.50 has been consummated, including the full exercise of the underwriters' option to purchase 1,875,000 common units. Noble Midstream intends to use net proceeds of approximately $300 million to, among other uses, make a distribution of approximately $297 million to Noble Energy, Inc. (NYSE:NBL) ("Noble Energy").

As of the closing of the offering, the public owns 45.2% of the limited partner interest in Noble Midstream. Noble Energy and certain of its subsidiaries own the remaining 54.8% of the limited partner interest and 100% of the incentive distribution rights and Noble Midstream's general partner.

Barclays, Baird, J.P. Morgan, BofA Merrill Lynch, Citigroup, Deutsche Bank Securities, DNB Markets, Mizuho Securities, MUFG and Wells Fargo Securities acted as book-running managers for the offering and Barclays and Baird acted as structuring fee agents for the offering. The offering of these securities was made only by means of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933. A copy of the prospectus may be obtained from:


c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

Telephone: (888) 603-5847


Attention: Syndicate Department

777 East Wisconsin Avenue

Milwaukee, WI 53202-5391

Telephone: (800) 792-2473

J.P. Morgan

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

Telephone: (866) 803-9204


BofA Merrill Lynch

Prospectus Department


200 North College Street, 3rd floor,

Charlotte NC 28255-0001

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

Telephone: 1-800-831-9146

Deutsche Bank Securities

Attn: Prospectus Group

60 Wall Street

New York, NY 10005

Telephone: 1-800-503-4611
DNB Markets

Attn: Investment Banking Division

200 Park Avenue, 31st floor

New York, NY 10166

Telephone: (212) 681-3800
Mizuho Securities

Attn: Equity Capital Markets

320 Park Avenue, 12 th Floor

New York, New York 10022

Telephone: (212) 205-7600

Attn: Capital Markets Group

1221 Avenue of the Americas, 6th Floor

New York, New York 10020

Telephone: (877) 649-6848

Wells Fargo Securities

c/o Equity Syndicate Department

375 Park Avenue

New York, NY 10152

Telephone: 1-800-326-5897

To obtain a copy of the prospectus free of charge, visit the U.S. Securities and Exchange Commission's (the "SEC") website at

A registration statement relating to these securities has been filed with and declared effective by the SEC. 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 formed by its sponsor, Noble Energy, to own, operate, develop and acquire a wide range of domestic midstream infrastructure assets. Noble Midstream currently provides crude oil, natural gas, and water-related midstream services for Noble Energy in the DJ Basin in Colorado. Our areas of focus are in the DJ Basin and the Delaware Basin in Texas.

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. 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.

View source version on

Copyright Business Wire 2010