UPDATE: Noble Midstream Partners (NBLX) Commences 12.5M Share IPO; Sees Price of $19 - $21/Share

September 7, 2016 6:21 AM EDT

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(Updated - September 7, 2016 6:21 AM EDT)

Noble Midstream Partners LP (NYSE: NBLX) announced that it has commenced its initial public offering of 12,500,000 common units representing limited partner interests in Noble Midstream, at an anticipated initial public offering price between $19.00 and $21.00 per common unit, pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the “SEC”). Noble Midstream expects to grant the underwriters a 30-day option to purchase up to an additional 1,875,000 common units at the initial public offering price. The common units are expected to trade on the New York Stock Exchange under the ticker symbol “NBLX.”

The common units being offered to the public represent an approximate 39.3% limited partner interest in Noble Midstream, or an approximate 45.2% limited partner interest if the underwriters exercise, in full, their option to purchase additional common units. Noble Energy, Inc. (“Noble Energy”) and certain of its subsidiaries will own the remaining limited partner interest in Noble Midstream and all of its incentive distribution rights and will own 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 are acting as book-running managers for the offering and Barclays and Baird are acting as structuring fee agents for the offering. The offering of these securities is being made only by means of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933. When available, a copy of the preliminary 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

Email: prospectus-eq_fi@jpmchase.com

BofA Merrill Lynch

Prospectus DepartmentNC1-004-03-43

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, 12th 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


When available, to obtain a copy of the preliminary prospectus free of charge, visit the SEC's website at www.sec.gov.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 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 and securities of Noble Midstream may not ultimately be sold to the public because of general market conditions or other factors. 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.

Noble Midstream

John Bookout

Chief Financial Officer

(832) 639-7134



Chris Hickman

Investor Relations

(281) 943-1622


Source: Noble Midstream Partners LP

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