Houston, April 28, 2017 (GLOBE NEWSWIRE) -- Noble Energy, Inc. (NYSE: NBL) today announced the final merger consideration election results from its acquisition of Clayton Williams Energy, Inc., which was completed on April 24, 2017.

Noble Energy acquired Clayton Williams Energy for stock and cash, comprised of approximately 55 million shares of Noble Energy common stock and $665 million in cash. Clayton Williams Energy common stockholders and warrant holders have had the opportunity to elect to receive the merger consideration in the form of cash, Noble Energy common stock, or a mix of cash and Noble Energy common stock, in each case subject to proration.

Holders of approximately 2.0% of the outstanding Clayton Williams Energy shares of common stock and warrants elected to receive Noble Energy common stock, holders of approximately 86.9% elected to receive cash, and holders of approximately 8.4% elected to receive a mix of cash and Noble Energy common stock. The balance made no election.

Common stockholders who made valid stock elections will receive 3.7222 shares of Noble Energy common stock (with fractional shares being paid in cash) for each share of Clayton Williams Energy common stock.

Common stockholders who made valid cash elections will receive the cash consideration at a proration factor of 0.25270968, resulting in approximately 2.7816 shares of Noble Energy common stock (with fractional shares being paid in cash) and $34.97 in cash for each share of Clayton Williams Energy common stock.

Common stockholders who made valid mixed elections will receive 2.7874 shares of Noble Energy common stock (with fractional shares being paid in cash) and $34.75 in cash for each share of Clayton Williams Energy common stock.

Common stockholders who did not make a valid election will receive 3.7222 shares of Noble Energy common stock (with fractional shares being paid in cash) for each share of Clayton Williams Energy common stock.

In each case, cash in lieu of fractional shares of Noble Energy common stock will be paid at a rate of $34.67 per share.

About Noble Energy

Noble Energy (NYSE: NBL) is an independent oil and natural gas exploration and production company with a diversified high-quality portfolio of both U.S. unconventional and global offshore conventional assets spanning three continents. Founded more than 80 years ago, the company is committed to safely and responsibly delivering our purpose: Energizing the World, Bettering People’s Lives®. For more information, visit www.nblenergy.com.