Noble Midstream IPO represented 34% to 39% stake in company
Houston, TX – Noble Midstream Partners LP has announced it is postponing its previously-announced initial public offering.
The board of directors and management of Noble Midstream’s general partner and its sponsor, Noble Energy, Inc. , elected for postponement of the offering as a result of unfavorable equity market conditions.
Noble Midstream said in a press release that it will continue to evaluate the timing for the proposed offering as market conditions develop.
A registration statement relating to the proposed sale of these securities has been filed with the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective.
Noble Energy Inc., the parent company would have retained the majority share, while the public offering would have been 34 to 39 per cent stake, as reported by Houston Business Journal.
Noble Midstream is a growth-oriented Delaware master limited partnership recently formed by its sponsor, Noble Energy, to own, operate, develop and acquire a wide range of domestic midstream infrastructure assets. Noble Midstream’s initial assets will consist of certain crude oil, natural gas and water-related midstream services located in the DJ Basin.