• Safi Bello

Noble Energy To Acquire Clayton Williams Energy

According to a press release on January 16, 2017 -- Noble Energy Inc. (NYSE: NBL) ("Noble Energy" or "the Company") and Clayton Williams Energy, Inc. (NYSE:CWEI) ("Clayton Williams Energy") announced that the Boards of Directors of both companies have unanimously approved and the companies have executed a definitive agreement under which Noble Energy will acquire all of the outstanding common stock of Clayton Williams Energy for $2.7 billion in Noble Energy stock and cash. David L. Stover, Noble Energy's Chairman, President and CEO, stated, " We have been very disciplined in assessing expansion opportunities in the Delaware Basin and are extremely pleased to have reached this agreement with Clayton Williams Energy. This transaction brings all the key elements we value: excellent rock quality, a large contiguous acreage position adjacent to our own, and robust midstream opportunities, reinforcing the Delaware Basin as a long-term value and growth driver for Noble Energy. This combination creates the industry's second largest Southern Delaware Basin acreage position and provides more than 4,200 drilling locations on approximately 120,000 net acres, with over 2 billion barrels of oil equivalent in net unrisked resource. In addition to the benefits driven by larger scale, the midstream assets and planned buildout provide significant synergies and substantial dropdown potential in association with our ownership in Noble Midstream Partners." To get more information on Noble Energy to acquire Clayton Williams Energy click on the pictures below to read the articles.

Noble Buys Clayton for $2.7 Billion to Expand in Permian - Read More from Bloomberg News
Noble Energy to buy Clayton Williams Energy for $2.7 billion - Read More from CNBC

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