Noble closes $3.9 billion deal for Rosetta Resources

Houston, Texas-based independent producer Noble Energy said this week its $3.9 billion acquisition of Rosetta Resources, effective July 20.Rosetta stockholders overwhelmingly approved the deal, according to Noble. Rosetta is now a wholly-owned subsidiary of Noble.Rosetta stockholders will receive 0.542 shares of Noble common stock for each of their shares and cash in lieu of fractional shares, and Noble will issue roughly 41 million shares of common stock in the transaction.Noble, which has focused its U.S. drilling in Colorado and the Marcellus Shale, gains access to Rosetta’s more-than 100,000 acres in Texas’ Permian Basin and Eagle Ford Shale play. The assets produced 66,000 barrels of oil equivalent per day (BOE/d) in the first quarter. The addition of Rosetta s Eagle Ford Shale and Permian positions expands our onshore business with high-quality acreage in two premier unconventional basins, increasing our development inventory and further diversifying our portfolio, said Dave
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