Noble, Patina shareholders OK merger

Shareholders of exploration and production independents Noble Energy and Patina Oil & Gas approved the proposed merger of the two companies in special meetings held May 11.

In the merger, Patina stockholders will receive shares of Noble common stock, cash or a combination of stock and cash in exchange for their shares of Patina common stock.

Upon completion of the unwinding of hedging transactions of Patina and satisfaction of other customary conditions, the proposed merger is expected to close on May 16. Noble is a major independent with operations in major basins in the United States including the Gulf of Mexico, as well as internationally, in Argentina, China, Ecuador, Equatorial Guinea, the Mediterranean Sea and the North Sea. Patina has operations primarily in Colorado’s Wattenberg Field, the Mid-continent region of western Oklahoma and the Texas Panhandle, and the San Juan Basin in New Mexico.

—Ray Tyson