Noble Midstream Partners Announces Leadership Transition and Changes to the Board of Directors
October 05 2020 - 9:05AM
Business Wire
Noble Midstream Partners LP (NASDAQ: NBLX) (“Noble Midstream”)
today announced that its general partner, Noble Midstream GP LLC,
has appointed a new Chief Executive Officer (“CEO”) and new members
to its Board of Directors (the “Board”). As a result of the
completed Chevron Corporation (NYSE: CVX) (“Chevron”) acquisition
of Noble Energy, Inc. on October 5, 2020, Chevron has acquired
control of Noble Midstream GP LLC and now holds approximately 63%
of outstanding Limited Partner units.
Chief Executive Officer Appointment
Robin H. Fielder, currently President and Chief Operating
Officer of Noble Midstream, has been named President and CEO,
succeeding Brent J. Smolik as CEO. Thomas W. Christensen (Chief
Financial Officer and Chief Accounting Officer) and Aaron G.
Carlson (General Counsel and Secretary) will remain in their
current roles.
Fielder commented, “I am excited to lead the next chapter for
Noble Midstream as part of the Chevron organization. I look forward
to integrating our business and working together to enhance value
for our stakeholders. Noble Midstream’s principles have not
changed, and we will continue our focus on operational excellence,
financial discipline, and minimizing our environmental impact.”
Chevron Leadership Appointed to NBLX Board; Independent
Directors Unchanged
Colin E. Parfitt, Vice President of Chevron’s Midstream
operations, will join the Board and serve as Chairman. Joining
Parfitt on the Board are Alana K. Knowles, Vice President of
Chevron Downstream & Chemicals and Midstream; Andrei F.B.
Behdjet, General Counsel of Chevron Downstream & Chemicals and
Midstream; and Steven W. Green, President of Chevron North America
Exploration and Production. Noble Midstream President and CEO Robin
Fielder was appointed to the Board in late August and will remain
on the Board.
Leaving the Board effective immediately are Kenneth M. Fisher,
Executive Vice President and Chief Financial Officer; Thomas H.
Walker, Senior Vice President of Noble Energy U.S. Onshore; Rachel
G. Clingman, Senior Vice President of General Counsel and Corporate
Secretary, and Brent Smolik.
Noble Midstream’s three independent directors will remain on the
Board. Hallie A. Vanderhider, Martin Salinas, Jr., and Andrew E.
Viens will continue to provide governance as members of the Audit
and Conflicts Committees.
“I would like to thank the Noble Energy Board members for their
many contributions to Noble Midstream during their tenure,” said
Parfitt. “I am pleased to join the existing members of the Board
along with my Chevron colleagues. We anticipate that our combined
industry knowledge and steady leadership can create value for Noble
Midstream and its stakeholders.”
For more information on the appointees, please visit
www.nblmidstream.com/about-us/board-of-directors/ or view the
latest Form 8-K information in our SEC filings.
Third Quarter Earnings Release Information
Noble Midstream will not host a third-quarter earnings call due
to the recent acquisition and ongoing integration. Noble Midstream
will issue a press release and related presentation material in
early November with its third-quarter 2020 results on the
‘Investors’ page of the Partnership’s website at
www.nblmidstream.com. The Partnership anticipates holding its
fourth quarter earnings call as usual to discuss fourth quarter and
full year 2020 results and 2021 guidance.
About Noble Midstream Partners LP
Noble Midstream is a growth-oriented master limited partnership
formed by Noble Energy, Inc., to own, operate, develop and acquire
domestic midstream infrastructure assets. Noble Midstream currently
provides crude oil, natural gas, and water-related midstream
services in the DJ Basin in Colorado and the Delaware Basin in
Texas. 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”, “can,”
“should”, “may”, “estimates”, 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. These risks include, without
limitation, the Partnership’s targeted leverage and distribution
growth, its customers’ ability to meet their drilling and
development plans, changes in general economic conditions and the
impact of the COVID-19 pandemic, competitive conditions in the
Partnership’s industry, the ability to successfully integrate the
operations of Chevron, Noble Energy and the Partnership and achieve
the anticipated benefits from the transaction, actions taken by
third-party operators, gatherers, processors and transporters, the
demand for crude oil and natural gas gathering and processing
services, the Partnership’s ability to successfully implement its
business plan, the Partnership’s ability to complete internal
growth projects on time and on budget, the ability of third parties
to complete construction of pipelines in which the Partnership
holds equity interests on time and on budget, the price and
availability of debt and equity financing, the availability and
price of crude oil and natural gas to the consumer compared to the
price of alternative and competing fuels, and other risks inherent
in the Partnership’s business, including 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201005005555/en/
Park Carrere Manager, Investor Relations (281) 872-3208
park.carrere@nblmidstream.com
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