Noble Energy closes acquisition of Rosetta Resources

HOUSTON -- The stockholders of Rosetta Resources have overwhelmingly approved the merger of Rosetta into a subsidiary of Noble Energy. 

The transaction closed following a shareholder meeting on Monday and the merger took effect at the end of the day. In conjunction with the closing, Rosetta will become a wholly owned subsidiary of Noble Energy and James E. Craddock, Rosetta's chairman, CEO and president, will join Noble Energy's board of directors.

Highlights of the acquisition for Noble Energy include:

• Approximately 50,000 net acres in the Eagle Ford shale and 56,000 net acres in the Permian (46,000 in the Delaware basin and 10,000 in the Midland basin)
• Year-end 2014 proved reserves of 282 MMboe
• Current production of approximately 63,000 boed (second-quarter 2015 average)
• More than 1,800 gross horizontal drilling locations identified for development, with net unrisked resource potential of approximately 1 Bboe
• Noble Energy anticipates more than 15% annual production growth to an average of more than 100,000 boed in 2018

Dave Stover, Noble Energy's chairman, president and CEO, said, "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."