Noble Midstream Partners LP (NYSE:NBLX) was spun out of Noble Energy, Inc. as an initial public offering during the third quarter. Noble Midstream owns and operates portions of the oil and gas gathering, transportation and processing assets that are primarily located around Noble Energy’s operations in Colorado and Texas. We know the Noble assets extremely well, having been investors in Noble Energy for the past several years and see solid organic and inorganic growth potential at Noble Midstream over the next five years. The primary drivers of distributable cash flow growth at Noble Midstream will come from Noble Energy’s ability to grow oil and gas production volumes in Colorado and Texas, and Noble Midstream’s dropdown acquisitions over the next several years.
From Baron Energy and Resources third quarter 2016 commentary.
