Noble Energy to Buy Clayton Williams
January 16 2017 - 03:55PM
Dow Jones News
By Lynn Cook
Noble Energy Inc. will pay $2.7 billion to buy Clayton Williams
Energy Inc. in a deal that gives it another 120,000 acres of
oil-rich property in West Texas.
The combination will create the energy industry's second-largest
Southern Delaware shale acreage position in the Permian Basin.
Noble is buying more than 4,200 new drilling locations with over 2
billion barrels of oil equivalent in reserves, the company said
Monday.
The agreement also calls for Noble to take over a significant
number of pipelines in Texas that can carry fuel from oil fields
near the New Mexico border to markets where refineries and oil
storage tanks are located.
Write to Lynn Cook at lynn.cook@wsj.com
(END) Dow Jones Newswires
January 16, 2017 15:40 ET (20:40 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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