“Noble Midstream Partners and Greenfield Midstream Form DJ Basin JV to Acquire Saddle Butte Pipeline”
Noble Midstream Partners LP (NYSE: NBLX) (“Noble Midstream” or the “Partnership”) and Greenfield Midstream, LLC announced today the formation of a joint venture, Black Diamond Gathering, LLC (“JV” or “Black Diamond”). The JV has entered into definitive agreements to acquire Saddle Butte Rockies Midstream, LLC and affiliates (collectively “Saddle Butte”) for $625 million. Greenfield Midstream is an EnCap Flatrock Midstream portfolio company.
Deutsche Bank Securities Inc. served as financial adviser to Noble Midstream in connection with the transaction and Vinson & Elkins LLP acted as outside legal counsel to Noble Midstream in connection with the acquisition agreement and joint venture. Greenfield Midstream’s financial adviser was Baird and legal counsel was Reed Smith LLP. Thompson & Knight LLP served as legal counsel for Encap Flatrock Midstream.