Acquisition (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Business Acquisitions, by Acquisition

The following table sets forth our preliminary purchase price allocation:



(in thousands)
Cash Consideration	$	638,266
PDC Energy Payment	24,120
Current Liabilities Assumed	18,259
Total Purchase Price and Liabilities Assumed	$	680,645

Cash and Restricted Cash	$	12,518
Accounts Receivable	10,661
Other Current Assets	1,058
Property, Plant and Equipment	205,766
Intangible Assets⁽¹⁾	339,760
Fair Value of Identifiable Assets	569,763
Implied Goodwill ⁽²⁾	110,882
Total Asset Value	$	680,645


⁽¹⁾	See Note 6. Intangible Assets.

⁽²⁾

Based upon the preliminary purchase price allocation, we have recognized $110.9 million of goodwill, all of which is assigned to the Black Diamond reporting unit within the Gathering Systems reportable segment. As a result of the acquisition, we expect to realize certain synergies which may result from our operation of the Black Diamond system.

Business Acquisition, Pro Forma Information

The following pro forma consolidated financial information was derived from the historical financial statements of the Partnership and Saddle Butte and gives effect to the acquisition as if it had occurred on January 1, 2017. The pro forma results of operations do not include any cost savings or other synergies that may result from the Black Diamond Acquisition or any estimated costs that have been or will be incurred by us to integrate the acquired assets. The pro forma consolidated financial information has been included for comparative purposes and is not necessarily indicative of the results that might have actually occurred had the acquisition taken place on January 1, 2017; furthermore, the financial information is not intended to be a projection of future results.



	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per unit amounts)	2018		2017		2018		2017
Revenues	$	139,163	$	108,239	$	369,379	$	246,281
Net Income	48,703		41,158		129,796		96,638
Net Income Attributable to Noble Midstream Partners LP	$	44,617	$	39,316	$	118,896	$	83,497

Net Income Attributable to Limited Partners Per Limited Partner Common and Subordinated Unit
Basic	$	1.09	$	1.09	$	2.92	$	2.50
Diluted	$	1.09	$	1.09	$	2.92	$	2.50