• Subscribe
  • Log In
  • Sign up for email updates
  • Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

The Texas Lawbook

Free Speech, Due Process and Trial by Jury

  • Appellate
  • Bankruptcy
  • Commercial Litigation
  • Corp. Deal Tracker/M&A
  • GCs/Corp. Legal Depts.
  • Firm Management
  • White-Collar/Regulatory
  • Pro Bono/Public Service/D&I

V&E Advises Noble in Marcellus Exit

May 19, 2017 Mark Curriden

© 2017 The Texas Lawbook.

By Natalie Posgate
(May 19) – Houston-based Noble Energy said Thursday that it will exit the Marcellus Shale by divesting its midstream assets in the Marcellus Shale to a portfolio company of Quantum Energy Partners for $765 million.
The transaction entails Noble Energy selling the holding company that owns a 50 percent interest in CONE Gathering as well as 21.7 million limited partnership units, or a 33.5 percent ownership stake, in CONE Midstream Partners. CONE Gathering, which is a joint venture between Noble Energy and CONSOL Energy, owns the general partner of CONE Midstream.
The announcement comes less than a month after Noble agreed to divest its upstream assets in the Marcellus for $1.2 billion. Noble Energy executives said in a statement that Thursday’s transaction marks Noble shifting its midstream efforts to DJ Basin and Delaware Basin in Colorado and West Texas, two areas that are trending this year with the oil & gas industry.
Noble Energy General Counsel Arnold J. Johnson turned to a primarily Houston-based team from Vinson & Elkins led by corporate partner Ramey Layne and associate Brittany Sakowitz to handle its end of the deal. They received assistance from associates Ali Choate and Jing Tong.
The V&E deal team also included tax partner Ryan Carney and associate Laura Gieseke; labor & employment partner Sean Becker and associate Paul Knettel; executive compensation/benefits partner Stephen Jacobson and associate Dario Mendoza; environmental partner Larry Nettles and associate Matthew Dobbins; and antitrust attorneys from the firm’s Washington, D.C. office.
In November, Layne led a deal team that represented Noble Energy when it and CONSOL sold their remaining ownership interests in CONE Midsteam DevCo I to CONE Midstream for $248 million.
In addition to its DJ and Delaware Basin efforts, Noble Energy said the $2 billion it has raised from this year’s Marcellus divestitures will help fund its Clayton Williams Energy acquisition, strengthen its balance sheet by reducing debt and provide additional financial capacity and flexibility to support the company’s U.S. onshore oil development.
BofA Merrill Lynch provided financial advice to Noble Midstream. Information on Quantum’s financial and legal advisors is unknown at this time.

© 2017 The Texas Lawbook. Content of The Texas Lawbook is controlled and protected by specific licensing agreements with our subscribers and under federal copyright laws. Any distribution of this content without the consent of The Texas Lawbook is prohibited.

If you see any inaccuracy in any article in The Texas Lawbook, please contact us. Our goal is content that is 100% true and accurate. Thank you.

Mark Curriden

Mark Curriden is a lawyer/journalist and founder of The Texas Lawbook. In addition, he is a contributing legal correspondent for The Dallas Morning News.

View Mark’s articles

Email Mark

©2025 The Texas Lawbook.

Content of The Texas Lawbook is controlled and protected by specific licensing agreements with our subscribers and under federal copyright laws. Any distribution of this content without the consent of The Texas Lawbook is prohibited.

If you see any inaccuracy in any article in The Texas Lawbook, please contact us. Our goal is content that is 100% true and accurate. Thank you.

Primary Sidebar

Recent Stories

  • McGuireWoods Names Tyler VanHoutan as New Houston Office Managing Partner
  • A Practical Guide to Recovering Fees Under 28 U.S.C. § 1920
  • Trial Commences in $10M Dispute Between Cousins Who Bought Cicis Pizza 
  • Former Texas Solicitor Aaron Nielson: ‘Kirkland is the Perfect Place for Me’
  • Texas Lawyers Mobilize to Support Flood Victims

Footer

Who We Are

  • About Us
  • Our Team
  • Contact Us
  • Submit a News Tip

Stay Connected

  • Sign up for email updates
  • Article Submission Guidelines
  • Premium Subscriber Editorial Calendar

Our Partners

  • The Dallas Morning News
The Texas Lawbook logo

1409 Botham Jean Blvd.
Unit 811
Dallas, TX 75215

214.232.6783

© Copyright 2025 The Texas Lawbook
The content on this website is protected under federal Copyright laws. Any use without the consent of The Texas Lawbook is prohibited.