Noble Midstream Partners LP is a growth-oriented master limited partnership formed by Noble Energy, Inc., to own, operate, develop and acquire a wide range of domestic midstream infrastructure assets. The Partnership's areas of focus are in the DJ Basin in Colorado and the Delaware Basin in Texas.Cautionary Statement Regarding Forward-Looking Statements This press release includes forward-looking statements regarding future events, including the size, timing and results of the offering and the consummation of the acquisition. All forward-looking statements are based on the Partnership's beliefs as well as assumptions made by and information currently available to the Partnership. These statements reflect the Partnership's current views with respect to future events and are subject to various risks, uncertainties and assumptions. These risks, uncertainties and assumptions are discussed in the Partnership's 2016 Annual Report on Form 10-K and subsequent filings with the SEC. The Partnership undertakes no obligation to update or revise any forward-looking statement except as may be required by applicable law.
Noble Midstream Partners LP (NYSE:NBLX) ("Noble Midstream" or the "Partnership") today announced it has priced its previously announced underwritten public offering of 3,200,000 common units for total gross proceeds (before underwriters' compensation and estimated expenses) of approximately $154.2 million. The offering is scheduled to close on December 15, 2017, subject to satisfaction of customary closing conditions. Noble Midstream also granted the underwriters a 30-day option to purchase up to an aggregate of 480,000 additional common units. The Partnership currently intends to use the net proceeds from the offering, including any exercise of the underwriters' option to purchase additional units, to fund a portion of the purchase price for the Partnership's previously announced acquisition of Saddle Butte Rockies Midstream, LLC and affiliates and to pay related fees and expenses. The proceeds will be temporarily used to reduce borrowings under the Partnership's revolving credit facility until proceeds are needed for the closing of the acquisition. The underwriters intend to offer the common units for sale from time to time in one or more transactions (which may include block transactions), to purchasers directly or through agents, or through brokers in brokerage transactions on the New York Stock Exchange, or to dealers, in negotiated transactions or in combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices. Citigroup is acting as the sole book-running manager for the offering. When available, copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting Citigroup at Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146). You may also obtain these documents for free when they are available by visiting the Securities and Exchange Commission's (the "SEC") website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The offering will be made pursuant to an effective shelf registration statement and prospectus filed by Noble Midstream with the SEC.