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Noble Energy sells Marcellus shale upstream assets for $1.23B

Published 05/02/2017, 07:22 AM
© Reuters.  Noble Energy sells Marcellus shale upstream assets for $1.23B
  • Noble Energy (NYSE:NBL) agrees to sell all its exploration and production assets in the Marcellus shale field in northern West Virginia and southern Pennsylvania to an undisclosed buyer for $1.225B.
  • NBL says proceeds from the sale will be used to pay down essentially all of the debt borrowings resulting from the Clayton Williams Energy acquisition.
  • NBL’s interest in CONE Midstream Partners (NYSE:CNNX) is not included in the sale.
  • NBL +2.1% premarket following the news, as well as better than expected Q1 earnings reported yesterday after the close; notably, NBL raised its sales volume guidance for Q2 and FY 2017.
  • Now read: Noble Energy Becomes Intriguing Long-Term Investment Target With Israel-Europe Pipeline


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