Chevron has entered an agreement with Noble Midstream Partners LP to acquire all of the 33.925 million non-owned shares in an all-stock deal, Chevron stated in a press release on its website.

Per the statement, Noble Midstream will receive 0.1393 of  a share of common stock of Chevron in exchange for each common unit owned. No more details were disclosed , but the deal is expected to close by Q2 2021.

Colin Parfitt, Vice President of Chevron Midstream and Chairman of the Board of Directors of Noble Midstream Partners LP stated; “We believe this buy-in transaction is the best solution for all stakeholders, enabling us to simplify the governance structure and capture value in support of our leading positions in the DJ and Permian basins.”

The deal comes a few months after Chevron’s acquisition of all  outstanding shares of Noble Energy for a total of $5 billion.