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Noble Energy Sells Marcellus Property For $1.25 Billion
Announced Date
May 02,2017
Deal Value $
1,225,000,000
Net Acres
385,000
Transaction Type
Property
Buyer
Seller
Location
Multiples
Region
Northeast
Country
United States
State
Pennsylvania
Play
Production & Reserves Production
415 Mmcfe/d
Production Mix
88 % Gas
Reserves
1,518 Bcfe (1P)
Multiples
Production ($/Mcfe/d)
2,952
$Price/Net Acre
3,182
$Price/Adj. Net Acre
1,026
Adj. $/acre is based on production
@2,000 Mcfe/d
Transaction Details:
Noble Energy Inc annouced that it entered into a definitive agreement to sell all of its upstream assets in Northern West Virginia and Southern Pennsylvania to HG Energy, LLC a Quantum Energy portfolio company for $1.25 billion. HG Energy will also pay an additional contingent amount of $100 million should the average price realization at Dominion South exceed $3.30/MMbtu from 2018 through 2020.
The transaction closed today, June 28, 2017. The asset entails 385,000 net acres in the Marcellus with 100% Working Interest and 85% NRI. Current production is 415 MMcfe/d (88% gas, 14% NGLs and 2% oil).
Noble Energy Leasehold Map
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Jan-24-2020 |
-  |
- |
Click here | Pennsylvania | E&P |
| Dec-19-2019 |
- |
- |
Click here | Ohio | E&P |
| Oct-21-2019 |
- |
- |
Click here | Pennsylvania | E&P |
| Jul-19-2019 |
- |
- |
Click here | Pennsylvania | E&P |
| Jul-19-2019 |
- |
- |
Click here | Pennsylvania | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Jan-11-2024 | Chesapeake To Acquire Southwestern Energy | - |
- |
| Sep-08-2022 | EQT to Acquire Appalachia E&P, Midstream Assets for $5.2 Billion in Cash/Stock | - |
- |
| Sep-06-2022 | Sitio Royalties, Brigham to Merge in All-Stock Deal Worth $4.8 Billion | - |
- |
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Jul-20-2020 |
- |
- |
Click here | Colorado | E&P |
| Mar-14-2019 |
- |
- |
Click here | Texas | E&P |
| Feb-16-2018 |
- |
- |
Click here | E&P | |
| Jan-29-2018 |
- |
- |
Click here | E&P | |
| Nov-27-2017 |
- |
- |
Click here | Texas | E&P |
Other HG Energy II LLC Deals
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Mar-28-2019 |
- |
- |
Click here | West Virginia | E&P |