Deal Description: On March 5, 2021, Chevron Corporation (NYSE: CVX) (“Chevron”) and Noble Midstream Partners LP (NASDAQ: NBLX) (“Noble Midstream”) announced that they have entered into a definitive merger agreement pursuant to which Chevron will acquire all of the outstanding publicly held common units representing the limited partner interests of Noble Midstream not already owned by Chevron and its affiliates (“NBLX Common Units”) in exchange for Chevron common stock.

Under the merger agreement, each outstanding NBLX Common Unit that Chevron does not already own will be converted into 0.1393 shares of Chevron common stock.

The terms of the transaction were negotiated, reviewed and approved by the Conflicts Committee of the Board of Directors of Noble Midstream’s general partner and by that Board of Directors.

Baker Botts L.L.P. represented the conflicts committee in the transaction.

For more information, please see NBLX’s news release here.

Baker Botts Lawyers/Office Involved:

• Corporate: Joshua Davidson (Partner, Houston); Laura Katherine Mann (Special Counsel, Houston); Matthew Turner (Senior Associate, Houston); Catherine Ellis (Associate, Houston)
  
  
• Tax: Michael Bresson (Partner, Houston); Jared Meier (Senior Associate, Houston)
  
  
• Oil & Gas: Gerry Morton (Special Counsel, Houston); Kyle Doherty (Associate, Houston)
  
  
• Environmental: Thomas Jackson (Special Counsel, Washington D.C.)
  
  
• Regulatory: Emil Barth (Partner, Washington D.C.)
  
  
• Employee Benefits: Mark Bodron (Partner, Houston)
  
  
• Antitrust: Michael Bodosky (Special Counsel, Washington D.C.)

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