Quarterly / Earnings Reports | Third Quarter (3Q) Update
Noble Midstream Reports $27.7 MM Distributable Cash Flow
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Fresh off its most recent IPO, Noble Midstream reported the following Q3-2016 operational & Financial data.
- Completed $323 million IPO of 14,375,000 units at a price of $22.50 per common unit
- Distributable Cash Flow of $27.7 Million
- Volumes Gathered : 63Mboe/d
Business Update
In the third quarter, Noble Midstream delivered fresh water for the completion of 42 equivalent wells, normalized to 4,500’ lateral length, in the DJ Basin. Additionally, 45 equivalent wells were connected to our gathering system in the quarter.
Nearly all of the wells put into production for the quarter utilized enhanced slickwater completions, which have improved well productivity and increased volumes gathered for new wells.
These enhanced completions require more fresh water, and as a result, the amount of fresh water delivered per equivalent well more than doubled during the third quarter as compared to the second quarter 2016.
During the third quarter we delivered approximately 290 MBw per equivalent well completion, as compared to approximately 120 MBw per equivalent well completion in the second quarter 2016.
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