© 2016 The Texas Lawbook.
By Natalie Posgate
(Sept. 7) – Texas capital markets lawyers may have a reason to celebrate.
Houston-based Noble Midstream Partners filed its S-1 today with the U.S. Securities & Exchange Commission. The document marks the second publicly filed initial public offering in the energy industry this year. If it goes through, it will be the first of its kind to close in 2016.
The first was Denver-based Centennial Resource Development, a Natural Gas Partners-backed portfolio company that filed its S-1 on June 22. A few weeks later, Centennial nixed its IPO, opting instead to sell a majority stake to Riverstone Holdings.
Vinson & Elkins was involved in both IPO filings. Houston partners Doug McWilliams and Julian Seiguer are listed as underwriter’s counsel for Noble Midstream’s IPO filing. McWilliams and Dallas partner Chris Schmitt led Centennial’s would-be IPO.
Houston partners Mike O’Leary and George Vlahakos of Andrews Kurth are listed as lead issuer’s counsel on Noble Midstream’s S-1 filing.
According to Noble Midstream’s filing, the master limited partnership will offer 12.5 million common units representing limited partnership interests. It anticipates pricing its shares between $19 and $21 per common unit.
Noble Midstream lists Barclays, Baird and J.P. Morgan as its lead underwriters.
Joint book-running managers include Bank of America Merrill Lynch, Citigroup, Deutsche Bank, DNB Markets, Mizuho Securities, MUFG and Wells Fargo.
Co-managers include BB&T Capital Markets, BNP Paribas, CIBC, Fifth Third Securities, PNC Capital Markets, Scotia Howard Weil, Societe Generale, SMBC Nikko and TD Securities.
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