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Fly News Breaks for April 30, 2019
NBL, NBLX
Apr 30, 2019 | 08:38 EDT
After Noble Energy (NBL) recently disclosed in a regulatory filing that it is conducting a review of strategic alternatives with respect to its investment in Noble Midstream Partners (NBLX), Baird analyst Ethan Bellamy said he sees "no clear path" for public holders of units of the MLP, as the outcomes could range from a drop down, to an IDR rollup, to a GP sale, to a full sale of the partnership. Given this wide range of outcomes, Noble Midstream "may move sharply in either direction from here," said Bellamy, who keeps a Neutral rating on the units.
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