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Noble Midstream Partners LP (NASDAQ: NBLX) announced its successful integration with Chevron Corporation (NYSE: CVX) and revealed Chevron's 2021 capital budget dedicated to Noble's acreage. The joint focus will be on the DJ Basin, where it has substantial infrastructure. Noble Midstream forecasts minimal large-scale expenditures, mainly for well connections. The company expects operational cash flow growth in 2021 and aims to reduce debt. CEO Robin Fielder highlighted a 20% reduction in cash operating costs and plans for significant cash flow generation exceeding capital expenditures.
Noble Midstream Partners LP (NASDAQ: NBLX) announced a cash distribution of $0.1875 per unit for the third quarter of 2020. The distribution will be payable on November 13, 2020, to unitholders on record as of November 6, 2020. Noble Midstream focuses on owning, operating, and developing midstream infrastructure assets, primarily providing crude oil, natural gas, and water-related services in the DJ Basin and Delaware Basin. This release includes a notice regarding federal income tax withholding applicable to foreign investors.
Noble Midstream Partners LP (NASDAQ: NBLX) announced significant leadership changes following Chevron’s acquisition of Noble Energy. Robin H. Fielder has been appointed as the new President and CEO, taking over from Brent J. Smolik. The Board of Directors will now include Chevron executives, with Colin E. Parfitt serving as Chairman. Independent directors will remain. Noble Midstream will not hold an earnings call for Q3 2020 due to ongoing integration but plans to issue a press release in early November regarding its financial results.