Noble Energy shareholders approve merger with Chevron
Noble Energy shareholders have approved the $13 billion merger with Chevron Corp., Kallanish Energy reports.
The approval “marks an important milestone on the path to becoming part of an even stronger global energy platform. We thank ourt shareholders and other stakeholders for recognizing the many benefits that will be realized and the significant value that will be created through this combination,” he said.
The company said the final vote totals will be filed soon with the U.S. Securities and Exchange Commission.
With the Noble approval complete, the merger is expected to close early in the fourth quarter 2020, the companies said.
Last July, Chevron announced it was acquiring Noble Energy in a $5 billion all-stock deal that totals $13 billion with debt.
The deal boosts Chevron in the eastern Mediterranean with offshore natural gas assets in Israel and adds to its U.S. shale holdings in the DJ Basin in Colorado and Wyoming and the Permian basin West Texas and New Mexico.
The deal boosts Chevron with low-cost proved reserves and attractive undeveloped resources.
Oct. 5, 2020