Noble Midstream plans revolver draw for equity investment

By Susanna Moon

Chicago, Feb. 4 – Noble Midstream Partners LP said it plans to draw from its revolving credit facility to fund its equity investment of $165 million to $180 million for its Epic Y-grade pipeline and $330 million to $350 million for the Epic crude oil pipeline.

Noble exercised its option with Epic Midstream Holdings, LP to acquire a 15% equity interest in the EPIC Y-Grade Pipeline and for a 30% equity interest in the Epic crude oil pipeline, according to an announcement.

Noble said it is also exploring a private co-investment in the Epic crude oil pipeline.

Closing of the Epic crude oil pipeline is expected to occur in February.

Both pipelines will be funded through project level debt as well as equity commitments from project partners.

Noble Midstream is a subsidiary of Noble Energy, Inc., Houston-based crude oil and natural gas exploration and production company.

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