One-Page Deal Sheet
Noble, Greenfield Midstream JV Picks Up 20% Stake in Saddlehorn Pipeline
Greenfield Midstream, Noble Midstream Partners LP Magellan Midstream Partners Lp, Plains All American Pipeline, L.P., Western Midstream Partners, LP
Announced Date
February 04,2020
Transaction Type
Asset
Location
Region
Rockies - Powder River Basin,Rockies - DJ Basin
Country
United States
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Transaction Details: Require Private Equity Subscription
Noble Midstream Partners LP and Greenfield Midstream LLC have exercised the option to acquire a 20% interest in the Saddlehorn Pipeline through their Black Diamond Gathering LLC joint venture.
The deal value is $155 million gross, or $84 million net to Noble Midstream.
The Saddlehorn Pipeline, which is jointly owned by affiliates of Magellan Midstream Partners, Plains All American Pipeline, and Western Midstream Partners, is currently capable of transporting approximately 190,000 barrels per day (Bbl/d) of crude oil and condensate from the DJ and Powder River Basins to storage facilities in…