On April 3, 2017, Trinity River DevCo LLC (“Trinity”), an indirect wholly owned subsidiary Noble Midstream Partners LP (the “Company”), and Plains Pipeline, L.P. (“Plains”), a wholly owned subsidiary of Plains All American Pipeline L.P. (“PAA”), completed the acquisition of Advantage Pipeline, L.L.C. (“Advantage”) through a newly formed 50/50 joint venture (the “Advantage Joint Venture”). Advantage owns a 16-inch crude oil pipeline system extending approximately 70 miles from Pecos, Texas to Crane County, Texas.

The Advantage Joint Venture was formed on April 3, 2017 when Trinity and Plains each acquired a 50% membership interest in Advantage Pipeline Holdings LLC. Trinity contributed $66.5 million in cash in exchange for its 50% interest in the Advantage Joint Venture, which was funded with available cash and borrowings under the Company’s revolving credit facility. Plains contributed $26.3 million in cash and approximately 1.3 million common units of PAA in exchange for its 50% interest in the joint venture. The Advantage Joint Venture used the contributions to acquire Advantage for a purchase price of $133 million. Trinity’s acquisition of its 50% interest in the Advantage Joint Venture was completed to the terms of a Subscription Agreement dated February 12, 2017 among Trinity, Plains and Advantage Pipeline Holdings LLC, filed as Exhibit 2.1 to the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 14, 2017. In connection with the formation of the Advantage Joint Venture, the Company agreed to guarantee Trinity’s payment obligations in the event the joint venture requires its members to make additional capital contributions.

About NOBLE MIDSTREAM PARTNERS LP (NYSE:NBLX)

Noble Midstream Partners LP is formed to own, operate, develop and acquire a range of domestic midstream infrastructure assets. The Company focuses in the area of DJ Basin in Colorado and in the Delaware Basin within the Permian Basin in Texas. The Company’s segments include Gathering Systems; Fresh Water Delivery, and investments in white cliffs and other. The Company’s gathering systems segment includes crude oil, natural gas and produced water gathering, as well as crude oil treating. The Company provides crude oil, natural gas, and water-related midstream services for Noble Energy, Inc. through long-term, fixed-fee contracts. Through its ownership interests in the development companies, the Company operates and owns interests in various assets, which include crude oil and natural gas gathering systems; crude oil treating facilities; produced water collection, gathering, and cleaning systems, and fresh water storage and delivery. Its operations are located in the United States.

NOBLE MIDSTREAM PARTNERS LP (NYSE:NBLX) Recent Trading Information

NOBLE MIDSTREAM PARTNERS LP (NYSE:NBLX) closed its last trading session down -0.17 at 49.89 with 132,603 shares trading hands.