This Forbes piece profiles Noble Energy’s diverse portfolio of assets that may appear haphazard, but according to CEO Charles D. Davidson, “This isn’t an accident. This is a strategy.” [Forbes]

A top oil and gas banker moves from Morgan Stanley to Credit Suisse. “Before making the move, Mr. McCabe was at Morgan Stanley, and has worked on deals including the El Paso Corporation’s $38 billion sale to Kinder Morgan, and the formation of Spectra’s $11 billion master limited partnership.” [NYT Dealbook]

Investment firm Blackstone is buying 3 natural gas-fired power plants in Texas. Direct Energy has announced plans to sell its three natural gas-fired power plants in Texas to asset manager firm Blackstone in a $685 million cash deal. [AP]