HOUSTON--(BUSINESS WIRE)--Noble Midstream Partners LP (NYSE: NBLX) (“Noble Midstream” or the “Partnership”) today increased second quarter volume guidance as a result of continued well performance from Noble Energy, Inc.’s enhanced completions above the Partnership’s expectation. Estimated oil and gas gathered volumes have been increased to range from 70 to 75 thousand barrels of oil equivalent per day (MBoe/d), a 7.5% increase from the original second quarter guidance and 15% higher than the first quarter. Daily produced water gathering and fresh water delivery estimates have also been increased for the second quarter.
|Second Quarter 2017|
|Updated Guidance||Prior Guidance|
|Oil and Gas Gathered (MBoe/d)||70||-||75||65||-||70|
|Produced Water Gathered (MBw/d)||11||-||13||10||-||12|
|Fresh Water Delivered (MBw/d)||125||-||175||100||-||150|
“Our base gathering business continues to outperform our expectations and will set a third consecutive monthly record for oil and gas throughput in May,” stated Terry R. Gerhart, Chief Executive Officer of Noble Midstream. “The additional growth in the second quarter is added momentum ahead of the second half of 2017, when we expect meaningful contributions from our growth projects in the DJ and Delaware Basin.”
2017 MLP Investor Conference
Noble Midstream is attending the 2017 MLP Investor Conference, sponsored by the Master Limited Partnership Association, beginning today through Friday, June 2, 2017. Terry Gerhart, CEO, will present at the conference on Thursday, June 1 at 11:35 EDT. The presentation materials, along with a link to tomorrow’s webcast, are available on the ‘Investors’ page of the Partnership’s website at www.nblmidstream.com.
About Noble Midstream Partners
Noble Midstream Partners LP is a growth-oriented master limited partnership formed by Noble Energy, Inc. to own, operate, develop and acquire domestic midstream infrastructure assets. Noble Midstream currently provides crude oil, natural gas, and water-related midstream services in the DJ Basin in Colorado and the Delaware Basin in Texas. For more information, please visit www.nblmidstream.com.
This news release contains certain “forward-looking statements” within the meaning of federal securities law. Words such as “anticipates”, “believes”, “expects”, “intends”, “will”, “should”, “may”, “estimates”, and similar expressions may be used to identify forward-looking statements. Forward-looking statements are not statements of historical fact and reflect the Partnership’s current views about future events. No assurances can be given that the forward-looking statements contained in this news release will occur as projected and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks include, without limitation, Noble Energy’s ability to meet their drilling and development plans, changes in general economic conditions, competitive conditions in the Partnership’s industry, actions taken by third-party operators, gatherers, processors and transporters, the demand for crude oil and natural gas gathering and processing services, the Partnership’s ability to successfully implement its business plan, the Partnership’s ability to complete internal growth projects on time and on budget, the price and availability of debt and equity financing, the availability and price of crude oil and natural gas to the consumer compared to the price of alternative and competing fuels, and other risks inherent in the Partnership’s business that are discussed in its most recent registration statement on Form S-1 and in other reports on file with the Securities and Exchange Commission (“SEC”). These reports are also available from the Partnership’s office or website, www.nblmidstream.com. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Noble Midstream does not assume any obligation to update forward-looking statements should circumstances, management’s estimates, or opinions change.