Noble moves into two key Texas plays

摘要

Houston-International upstream player Noble Energy moved to acquire Rosetta Resources for a total $3.9 billion on Monday, removing funding concerns for the latter in a lower oil price environment and giving the acquirer a solid footprint in two large, prominent Texas unconventional plays. The deal, consisting of $2.1 billion in an all-stock transaction, plus assumption of $1.8 billion in net debt, moves Noble into the Permian Basin and Eagle Ford Shale. The company also has large operations in the Wattenberg field in the DJ Basin of Colorado and the Marcellus Shale in Pennsylvania.