Noble Midstream Partners LP has postponed its recently announced initial public offering. The board of directors and management of Noble Midstream's general partner and its sponsor, Noble Energy Inc., have elected to postpone the offering as a result of unfavorable equity market conditions.
Noble Midstream will continue to evaluate the timing for the proposed offering as market conditions develop.
Noble Midstream is a growth-oriented Delaware master limited partnership recently formed by its sponsor, Noble Energy, to own, operate, develop, and acquire a range of domestic midstream infrastructure assets. Noble Midstream's initial assets will consist of certain crude oil, natural gas, and water-related midstream services located in the Denver-Julesburg Basin.