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Released January 05, 2018 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Noble Energy Incorporated (NYSE:NBL) (Houston, Texas), like many exploration and production companies in the Oil & Gas Industry, has been divesting its non-core assets and shifting focus to its most profitable businesses. Earlier this week, the company sold its 50% stake in CONE Gathering LLC for $305 million, and it has been turning more often to the Eagle Ford Shale and Permian Basin for development projects. Industrial Info is tracking $1.88 billion in active projects involving Noble.
CONE Gathering owns the general partner of CONE Midstream Partners LP (NYSE:CNNX) (Canonsburg, Pennsylvania), a master limited partnership that owns, operates and develops natural gas gathering and other midstream energy assets in the Marcellus Shale. The sale follows another in November, in which Noble divested nearly 30,200 acres of the Denver-Julesburg Basin, also a non-core asset, to SRC Energy Incorporated (Denver, Colorado) for $608 million.
Noble has been boosting its role in the prosperous Eagle Ford Shale and Permian Basin through its recent acquisitions of Rosetta Resources and Clayton Williams Energy Incorporated. Industrial Info offers plant profiles on 16 Noble-owned facilities, both onshore and offshore, in the U.S., including seven properties in western and southern Texas: a crude oil pump station and tank farm in Pecos; a crude oil pump station and tank farm in Coyanosa; a crude oil pump station and tank farm in Crane; and an oil and gas lease in Laredo.
CNX Resources (NYSE:CNX) (Canonsburg, Pennsylvania) purchased Noble's interest in CONE, which is now trading under the name CNX Midstream Partners (NYSE:CNXM). CNX, which was formed following the separation of CONSOL Energy's gas and coal businesses, expects to support the new entity by developing 140 wells over the next four years. Industrial Info is tracking progress at 15 CNX-owned and CONSOL-owned compressor stations, booster stations and processing plants for natural gas.
Noble also sees opportunity in the growing demand for natural gas in the Eastern Mediterranean region, where it is at work on the Leviathan natural gas project, offshore Israel. The $20 million drilling program, which is expected to produce 1.16 billion standard cubic feet per day of natural gas from three wells, is backed by the ongoing construction of a $500 million processing platform roughly 135 kilometers off the Israeli coast. It is expected to be operational by the end of 2019. For more information, see Industrial Info's project reports on the drilling program and the platform.
The platform would be connected to the field via a $20 million, 10-kilometer pipeline, then connected to a gas plant in central Israel via a $350 million, 140-kilometer subsea pipeline. For more information, see Industrial Info's project reports on the 10-kilometer and 140-kilometer lines.
Delek Group Limited (Herzlia, Israel), the exploration and production firm heading up the Leviathan project, also is weighing its options for a proposed, $20 million second-phase drilling plan that would involve another three wells, and a proposed $300 million expansion to the platform. Delek holds slightly more than 45% of the Leviathan project, while Noble holds just less than 40% and Ratio Oil Exploration holds 15%. For more information, see Industrial Info's project reports on the second-phase drilling and platform plans.
Noble recently announced it will put 20% of its annual capital expenditures toward the Leviathan development.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
CONE Gathering owns the general partner of CONE Midstream Partners LP (NYSE:CNNX) (Canonsburg, Pennsylvania), a master limited partnership that owns, operates and develops natural gas gathering and other midstream energy assets in the Marcellus Shale. The sale follows another in November, in which Noble divested nearly 30,200 acres of the Denver-Julesburg Basin, also a non-core asset, to SRC Energy Incorporated (Denver, Colorado) for $608 million.
Noble has been boosting its role in the prosperous Eagle Ford Shale and Permian Basin through its recent acquisitions of Rosetta Resources and Clayton Williams Energy Incorporated. Industrial Info offers plant profiles on 16 Noble-owned facilities, both onshore and offshore, in the U.S., including seven properties in western and southern Texas: a crude oil pump station and tank farm in Pecos; a crude oil pump station and tank farm in Coyanosa; a crude oil pump station and tank farm in Crane; and an oil and gas lease in Laredo.
CNX Resources (NYSE:CNX) (Canonsburg, Pennsylvania) purchased Noble's interest in CONE, which is now trading under the name CNX Midstream Partners (NYSE:CNXM). CNX, which was formed following the separation of CONSOL Energy's gas and coal businesses, expects to support the new entity by developing 140 wells over the next four years. Industrial Info is tracking progress at 15 CNX-owned and CONSOL-owned compressor stations, booster stations and processing plants for natural gas.
Noble also sees opportunity in the growing demand for natural gas in the Eastern Mediterranean region, where it is at work on the Leviathan natural gas project, offshore Israel. The $20 million drilling program, which is expected to produce 1.16 billion standard cubic feet per day of natural gas from three wells, is backed by the ongoing construction of a $500 million processing platform roughly 135 kilometers off the Israeli coast. It is expected to be operational by the end of 2019. For more information, see Industrial Info's project reports on the drilling program and the platform.
The platform would be connected to the field via a $20 million, 10-kilometer pipeline, then connected to a gas plant in central Israel via a $350 million, 140-kilometer subsea pipeline. For more information, see Industrial Info's project reports on the 10-kilometer and 140-kilometer lines.
Delek Group Limited (Herzlia, Israel), the exploration and production firm heading up the Leviathan project, also is weighing its options for a proposed, $20 million second-phase drilling plan that would involve another three wells, and a proposed $300 million expansion to the platform. Delek holds slightly more than 45% of the Leviathan project, while Noble holds just less than 40% and Ratio Oil Exploration holds 15%. For more information, see Industrial Info's project reports on the second-phase drilling and platform plans.
Noble recently announced it will put 20% of its annual capital expenditures toward the Leviathan development.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
