Deal of the Week: Noble Energy exits Marcellus in $1.2B deal, shifts onshore focus

The skinny

Houston-based Noble Energy Inc. (NYSE: NBL) will sell all of its upstream Marcellus Shale assets in northern West Virginia and southern Pennsylvania to an undisclosed buyer for nearly $1.23 billion. The deal, which is expected to close by the end of the second quarter, will allow the company to pay off debt from a recent acquisition and refocus its U.S. onshore operations.

The money

The total amount of the deal includes nearly $1.13 billion in cash up front, plus contingent payments…

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