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Howard Weil Energy Conference – Noble Energy, Inc.

Noble Energy, Inc. · Mar 28, 2011 · 26 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Howard Weil Energy Conference – Noble Energy, Inc. – slide 1
    Howard Weil Energy Conference March 2011
  2. Howard Weil Energy Conference – Noble Energy, Inc. – slide 2
    Noble Energy Creating long-term value Diversified but Focused Asset Portfolio Allows optimal capital allocation for superior returns Exploration-led Growth Proven track record, game-changing opportunities Broad Lineup of Major…
  3. Howard Weil Energy Conference – Noble Energy, Inc. – slide 3
    Balanced and Diversified Portfolio Provides stability and strength Reserves YE 2010 Leverage to U.S and International 1.1 BBoe Markets United States Exposure to Crude Oil and Natural Gas International Quality Asset Foundation…
  4. Howard Weil Energy Conference – Noble Energy, Inc. – slide 4
    Exploration Track Record The right people, technology, strategy, and processes Discovered nearly 2 BBoe in Last 5 Years Net Resources Discovered MMBoe Very low finding costs per unit 1,000 Replaced about 25 times annual…
  5. Howard Weil Energy Conference – Noble Energy, Inc. – slide 5
    Total Net Risked Resources Over four times proved reserves 8,400 Risked Resources (MMBoe) Deepwater GOM US Eastern Onshore Med 4,600 West Africa Other 1,092 Proved Reserves Risked Resources Unrisked Resources 2010…
  6. Howard Weil Energy Conference – Noble Energy, Inc. – slide 6
    Major Development Project Line-up Inventory of growth drivers Liquids Onshore Gas U.S. Horizontal Niobrara Deepwater Galapagos GOM Gunflint Eastern Tamar Med Leviathan Aseng West Africa Alen…
  7. Howard Weil Energy Conference – Noble Energy, Inc. – slide 7
    Conservative Financial Position Supporting long-term growth plans % Debt to…
  8. Howard Weil Energy Conference – Noble Energy, Inc. – slide 8
    2015 Outcomes Substantially enhanced operational and financial performance Production 350 MBoe/d 1.6 BBoe Reserves 5-Yr F&D of 11/Boe Cash Flow BTax Cash Margin* of 43/Boe Returns ROACE 17% Flexibility 1.6 B Free Cash…
  9. Howard Weil Energy Conference – Noble Energy, Inc. – slide 9
    2011 Investment Program - 2.7 Billion Building for the Future Maintain Strong Production Base - 1.1 Bn Near-term Legacy onshore U.S. development programs Development Active vertical well program in DJ basin Israel near-term…
  10. Howard Weil Energy Conference – Noble Energy, Inc. – slide 10
    WY Denver Julesburg Basin Combined Wattenberg and Central DJ basin NE Cheyenne CO Built Premier Liquid-rich Acreage Denver Position Over 830,000 net acres Operated rig count 7 vertical, 4 horizontal 485 vertical, 70…
  11. Howard Weil Energy Conference – Noble Energy, Inc. – slide 11
    Wattenberg Field Productive limits of field expanding Approximately 400,000 Net Acres Extension Area 15 wells completed Horizontal Drilling Improves 430 Boe/d 30-day IP Recoveries and Returns 60 - 80% liquids 30-day IP average…
  12. Howard Weil Energy Conference – Noble Energy, Inc. – slide 12
    Central DJ Basin Niobrara Significant acreage position outside Wattenberg Approximately 430,000 Net Acres Low entry cost 480 per acre 1 rig program for 2011 Continue to Appraise No. Colorado and So. Wyoming Testing fractures,…
  13. Howard Weil Energy Conference – Noble Energy, Inc. – slide 13
    Deepwater Gulf of Mexico A better prepared industry Enhanced Processes and Drilling Operations Well design reviews and certifications BOP testing and third-party certifications Improved Well Containment Systems Shut-in / flow and…
  14. Howard Weil Energy Conference – Noble Energy, Inc. – slide 14
    Deepwater Gulf of Mexico Ongoing developments with significant upside Strong Existing Production Base 19 MBoe/d, 70% liquid NBL Interests Louisiana Redrock Swordfish 67% WI 85% WI Producing Raton Progressing Developments…
  15. Howard Weil Energy Conference – Noble Energy, Inc. – slide 15
    Galapagos Project Near-term impact for NBL Louisiana 130 MMBoe Gross Resources NBL 29% average WI Two-thirds oil Mississippi Canyon Upside recoveries add 65 MMBoe Project Development Plan NaKika Subsea tieback to NaKika…
  16. Howard Weil Energy Conference – Noble Energy, Inc. – slide 16
    West Africa Generating multiple growth opportunities West Africa Strong Production at Alba Field Net volumes 225 MMcf/d, 20 MBbls/d Gas sales to LNG and methanol plants Exceptional Operated Exploration Track Record Cameroon…
  17. Howard Weil Energy Conference – Noble Energy, Inc. – slide 17
    West Africa Oil Developments Significant near-term production and cash flows Developing 72 MMBbl Net Oil Resources World-class reservoirs Aseng Oil Project First production mid 2012 at 17,000 Bbl/d net (includes cost recovery)…
  18. Howard Weil Energy Conference – Noble Energy, Inc. – slide 18
    West Africa Exploration Meaningful potential with multiple play types 1.5 MM Gross Acres in Douala Basin Cameroon Previously under-explored area Continuing to Mature Deeper Oil Opportunities Block O High-grading Additional…
  19. Howard Weil Energy Conference – Noble Energy, Inc. – slide 19
    Eastern Mediterranean Existing asset position Reliable, High-Margin Operations at Mari-B Nearly 100% reliability since 2004 Eastern Mediterranean LOE 0.20/Mcf, DDA 0.40/Mcf Largest Global Deepwater Gas Leviathan Tamar…
  20. Howard Weil Energy Conference – Noble Energy, Inc. – slide 20
    Israel Tamar World-class discovery and development Resource Estimated at 8.4 Tcf, Gross Superior reservoir 1 darcy permeability and porosity 25% Development Plan Approved 5 subsea completions at 200-250 MMcf/d per well…
  21. Howard Weil Energy Conference – Noble Energy, Inc. – slide 21
    Israel Leviathan Largest discovery in NBL history Resource Estimated at 16 Tcf, Gross Several high-quality Miocene reservoirs 125 square mile aerial extent Continue to Drill Deeper to Evaluate Additional Targets 2 Low chance of…
  22. Howard Weil Energy Conference – Noble Energy, Inc. – slide 22
    Eastern Mediterranean Exploration Leading acreage position in a emerging basin NBL Operates 3 MM Gross Acres Four Consecutive Successes Based on geologic model and 3D Eastern Mediterranean Interpretation Multiple Prospects and…
  23. Howard Weil Energy Conference – Noble Energy, Inc. – slide 23
    Important Messages About Noble Energy Unrecognized potential and value Discovered Resources Deliver Significant Growth in Reserves, Production and Margins Focused Exploration Portfolio with Substantial Running Room Breadth of…
  24. Howard Weil Energy Conference – Noble Energy, Inc. – slide 24
    2011 Guidance Original Sales (MBoe/d) 208 218 Capital (B) 2.7 Lease Operating (/Boe) 4.95 5.35 Transportation 0.90 1.05 DD&A (/Boe) 11.50 12.00 Production Taxes 4.5 4.8% Exploration (MM) 340 400 G&A (MM) 300 320…
  25. Howard Weil Energy Conference – Noble Energy, Inc. – slide 25
    Defined Terms and Price Assumptions Term Definition Free Cash Flow Discretionary cash flow less capital BTax Cash Margin Revenue less lease operating expenses, production taxes, and transportation Crude Oil WTI Natural Gas HH…
  26. Howard Weil Energy Conference – Noble Energy, Inc. – slide 26
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