That is after its banks had reduced the borrowing base under its credit facility for the second time that year resulting in another deficiency. This situation caused the upstream MLP to caution that: [It] anticipates that its forecasted excess cash flow will not be sufficient to pay the remaining borrowing base deficiency.
Category: Clayton Williams Energy
Jim Cramer — Noble’s $2.7 Billion Purchase Makes Perfect Sense
Noble purchasing Clayton Williams for $2.7 billion is an excellent, strategic move to gain more exposure to the Permian, Cramer said. Shares of Clayton Williams Energy are up 36% Tuesday after it was announced on Monday that Noble Energy would purchase the company for $2.7 billion in cash and stock.
Cramer: Rising Deal Tide in the Permian Lifts Oil Boats
Yes, the Permian buys continue to move the needle. It looked like Noble Energy would be hammered when it paid a gigantic premium for Clayton Williams over the weekend; the latter stock is up 37%, but more important, perhaps, is that the stock was at $7 a little less than a year ago and now it is at $143.
Noble Energy Plans to Buy Clayton Williams Energy for $2.7 Billion
Noble Energy said on Monday it would buy Clayton Williams Energy for about $2.7 billion in a cash-and-stock deal, Noble Energy said in a news release Monday. Clayton Williams shareholders will receive 2.7874 shares of Noble Energy common stock and $34.75 in cash for each share of common stock held under terms of the deal, the company said.