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March 19, 2013
07:55 EDTROSERosetta Resources downgraded to Accumulate from Buy at Tudor Pickering
Tudor Pickering downgraded Rosetta Resources due to reduced capital efficiency and near-term funding issues.
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July 20, 2015
17:13 EDTROSENoble Energy closes acquisition of Rosetta Resources
Noble Energy (NBL) announced that the stockholders of Rosetta Resources (ROSE) overwhelmingly approved the merger of Rosetta into a subsidiary of Noble Energy. The transaction closed following the shareholder meeting and the merger will be effective at the end of the day. In conjunction with the closing, Rosetta will become a wholly owned subsidiary of Noble Energy and Rosetta CEO James Craddock will join the Noble Energy board. Highlights of the acquisition for Noble Energy include: Approximately 50,000 net acres in the Eagle Ford Shale and 56,000 net acres in the Permian; Year-end 2014 proved reserves of 282M barrels of oil equivalent; Current production of approximately 63 thousand barrels of oil equivalent per day; More than 1,800 gross horizontal drilling locations identified for development, with net unrisked resource potential of approximately 1B barrels of oil equivalent; Noble Energy anticipates more than 15% annual production growth to an average of more than 100 thousand barrels of oil equivalent per day in 2018; Substantial operational synergies expected across the combined onshore U.S. portfolio.
08:25 EDTROSERosetta Resources to host special shareholder meeting
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