Subsequent Events

12 Months Ended

Dec. 31, 2018

Subsequent Events [Abstract]

Subsequent Events

Note 16. Subsequent Events

EPIC Equity Interests On August 2, 2018, Noble assigned its option with EPIC Midstream Holdings, LP (EPIC) to acquire a 15% equity interest in the EPIC Y-Grade Pipeline to the Partnership. On January 31, 2019, Noble assigned its option to acquire a 30% equity interest in the EPIC Crude Oil Pipeline to the Partnership. Both options were set to expire February 1, 2019.

On January 31, 2019, the Partnership exercised and closed its option with EPIC to acquire the equity interest in the EPIC Y-Grade Pipeline. At closing, we made cash contributions of approximately $103 million.

Also on January 31, 2019, the Partnership exercised its option to acquire the equity interest in the EPIC Crude Oil Pipeline. Closing of the Partnership’s equity interest in the EPIC Crude Oil Pipeline is expected to occur later in first quarter 2019, subject to certain conditions precedent.

Delaware Crossing Joint Venture On October 2, 2018, we entered into a non-binding letter of intent with Salt Creek Midstream LLC (Salt Creek) to form a 50/50 joint venture to construct a crude oil pipeline system with a capacity of 160 MBbl/d in the Delaware Basin. On February 7, 2019, we executed definitive agreements and completed the formation of Delaware Crossing LLC (Delaware Crossing Joint Venture). As Salt Creek has commenced construction of the pipeline prior to formation, we made capital contributions of approximately $38 million at closing.

Revolving Credit Facility We utilized proceeds from our revolving credit facility to fund our contributions in connection with the closing of the EPIC Y-Grade equity interest and Delaware Crossing Joint Venture. As of February 15, 2019, $260 million was outstanding under our revolving credit facility.