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Noble Energy divests in Marcellus pipeline company

Wednesday, May 24, 2017 by

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Nobel Energy continues to exit the Appalachian shale to shift capital to its pipelines and other assets in the DJ Basin in Colorado and the Delaware Basin in Texas. Nobel’s most recent move to divest is to sell its stake in a company that operates pipelines in the Marcellus shale, according to FuelFix.com.

The company plans to sell its 50 percent claim to Cone Gathering, a company that owns the general partner of publicly traded pipeline firm Cone Midstream Partners, for $765 million. It’s also selling limited partnership units, representing a 33.5 percent stake in Cone midstream to Quantum Energy Partners.

Nobel plans to sell $2 billion in assets in the Appalachian basin this year.

Learn more: FuelFix.com > Noble Energy sells stake in Marcellus pipeline company for $765 million

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