Houston energy co. sells Marcellus assets for more than $1B

Houston-based Noble Energy Inc. is selling all of its upstream assets in northern West Virginia and southern Pennsylvania to an undisclosed buyer.

The deal, valued at more than $1.2 billion, includes upfront cash of more than $1.12 billion and contingent payments totaling $100 million for the assets in the Marcellus area, according to a release. It’s expected to close by the end of second quarter 2017.

Noble (NYSE: NBL) is using the money to pay down its debt after the company bought Midland-based…

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