Chevron closes acquisition of Noble Energy pipelines

WELD COUNTY — Chevron Corp. (NYSE: CVX) finalized its takeover of Noble Midstream Partners LP, giving it several pipeline routes in Weld County as part of a larger effort to enter Colorado’s drilling scene.

In a statement, the San Ramon, California-based Chevron said Noble Midstream is now a fully-owned subsidiary of the oil giant, and its stock ticker has ceased trading on the Nasdaq Global Select Market.

Chevron first offered to buy the remainder of Noble Midstream’s stock in early February at a valuation of $1.12 billion, months after it closed its acquisition of Noble Energy last fall for $5 billion in the first major oil and gas acquisition since the pandemic threw the industry into turmoil.

Before that buyout, the Houston-based Noble was the second-largest energy producer in Weld County.

Noble Midstream was set up as a sister company to store and transfer oil and gas produced in Northern Colorado and the Permian Basin in Texas to a refinery in Oklahoma. It serves about 300,000 acres of oilfields in Northern Colorado, including the Greeley Crescent, Wells Ranch, Bronco and Mustang fields along the Front Range.

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