SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 8, 2021
NOBLE MIDSTREAM PARTNERS LP
(Exact name of Registrant as specified in its charter)
|Delaware|| ||001-37640|| ||47-3011449|
|(State or other jurisdiction of|
incorporation or organization)
| ||(I.R.S. Employer|
|1001 Noble Energy Way|| ||77070|
|(Address of principal executive offices)|| ||(Zip Code)|
Registrant’s telephone number, including area code: (281) 872-3100
(Former name, former address and former fiscal year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|☐||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|☐||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|☐||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
|Securities registered pursuant to section 12(b) of the Act:|
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
|Common Units, Representing Limited Partner Interests||NBLX||The Nasdaq Stock Market LLC|
|(Nasdaq Global Select Market)|
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 7.01 Regulation FD Disclosure.
On January 8, 2021, Noble Midstream Partners LP (the “Partnership”) issued a press release announcing the Partnership’s entry into: (i) an agreement with a Chevron Corporation (NYSE: CVX) (“Chevron”) subsidiary wherein Chevron dedicates acreage and the Partnership provides oil transmission services for long-haul transportation out of the Denver-Julesburg Basin; and (ii) a capacity lease with an Energy Transfer LP (NYSE: ET) subsidiary for capacity on Energy Transfer’s Wattenberg Oil Trunkline. A copy of the press release issued by the Partnership is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The information furnished in this Item 7.01 shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and is not incorporated by reference into any filing under the Securities Act or the Exchange Act.
Item 9.01. Financial Statements and Exhibits.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Partnership has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| || ||NOBLE MIDSTREAM PARTNERS LP|
|By: Noble Midstream GP, LLC,|
Its General Partner
|Date:||January 8, 2021|| ||By: || ||/s/ Aaron G. Carlson|
| || || ||Aaron G. Carlson|
| || || ||General Counsel and Secretary|
January 8, 2021
Noble Midstream Partners Adds Chevron Dedication in DJ Basin
Houston, Texas - Noble Midstream Partners LP (NASDAQ: NBLX) (Noble Midstream or the Partnership) announced that the Partnership has entered into an agreement with a Chevron Corporation (NYSE: CVX) (Chevron) subsidiary to provide oil transmission services from the Wells Ranch development area to Platteville, Colorado, for long-haul transportation out of the DJ Basin. With this agreement, Noble Midstream will now be responsible for substantially all crude oil gathering and intermediate oil transportation services from the Wells Ranch development area.
Concurrent with this new transmission service, Noble Midstream has executed a capacity lease with a subsidiary of Energy Transfer LP (NYSE: ET) for capacity on Energy Transfer’s Wattenberg Oil Trunkline (WOT). The Partnership has contracted for the ability to utilize a substantial portion of the capacity on this in-service pipeline through 2031. The WOT pipeline terminates in Platteville, Colorado, where Noble Midstream has extensive existing infrastructure and storage with access to all four major long-haul pipelines in the DJ Basin.
The WOT capacity lease highlights Noble Midstream’s strategy to seek highly accretive and capital-efficient opportunities to best serve customer needs. Additionally, this transaction furthers the Partnership’s objective to high-grade and diversify its cash flow profile.
John Reuwer, Vice President of Business and Corporate Development of the Partnership stated, “This important transaction marks the first business development agreement with Chevron as well as a new commercial partnership with a key midstream provider in the DJ Basin. The WOT capacity lease provides both operational support and value for Chevron and the Partnership and gives Noble Midstream the ability to add incremental third-party business and further bolster our strong presence in the DJ Basin.”
About Noble Midstream
Noble Midstream is a master limited partnership originally formed by Noble Energy, Inc. and majority-owned by Chevron Corporation to own, operate, develop and acquire domestic midstream infrastructure assets. Noble Midstream currently provides crude oil, natural gas, and water-related midstream services and owns equity interests in oil pipelines in the DJ Basin in Colorado and the Delaware Basin in Texas. Noble Midstream strives to be the midstream provider and partner of choice for its safe operations, reliability, and strong relationships while enhancing value for all stakeholders. For more information, please visit www.nblmidstream.com.
This news release contains certain “forward-looking statements” within the meaning of federal securities law. Words such as “anticipates”, “believes”, “expects”, “intends”, “will”, “should”, “may”, “estimates”, “strategy”, “objective” and similar expressions may be used to identify forward-looking statements. Forward-looking statements are not statements of historical fact and reflect the Partnership’s current views about future events. No assurances can be given that the forward-looking statements contained in this news release will occur as projected, and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. For further discussion of risks and uncertainties, you should refer to those described under “Risk Factors” and “Forward-Looking Statements” in the Partnership’s most recent Annual Report on Form 10-K and in other reports we file with the Securities and Exchange Commission. These reports are also available from the Partnership’s office or website, www.nblmidstream.com. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Noble Midstream does not assume any obligation to update forward-looking statements should circumstances, management’s estimates, or opinions change.