The Merger Wave in the Oil Patch Starts Heading Midstream
Oil giant Chevron (NYSE: CVX) kicked things off in July by agreeing to acquire Noble Energy for $13 billion. The oil industry's current M&A wave has now splashed into the midstream sector. Chevron again opened the floodgates by offering to acquire Noble's former MLP Noble Midstream Partners (NYSE: NBLX) for an additional $1.13 billion earlier this month.