Sale by Ares Management of a 15% stake in EPIC-Y Grade to Noble Energy.

Ares Management sold a 15% stake in EPIC-Y Grade, an operator of midstream infrastructure, to Noble Energy, an American petroleum and natural gas exploration and production company. Financial terms were not disclosed. Gary W. Willingham, Noble Energy’s Executive Vice President, Operations, commented, “Our strategic agreement with EPIC provides long-term flow assurance for our rapidly growing Delaware Basin oil volumes. With this agreement, we have further diversified our onshore marketing outlets with access to the Gulf Coast and global markets, at an attractive pipeline transport cost.”