BoA Merrill Lynch Global Energy Conference November 2013
Noble Energy Differential company with differential results 2
Five-Year Growth Outlook 2012 to 2017 Superior long-term performance Transparent Growth Profile Debt-Adjusted Growth per Share* from Discovered Resources (CAGR) Contributions from All Operating Areas 24% 21% Key Outcomes by…
Onshore Unconventional Developments Expanding core areas Accelerating Horizontal Activity Levels Repeatable, low-risk investments Capturing economies of scale Improving EURs and Recovery Rates Enhancing Performance Through…
Core US Onshore Horizontal Production Track record of accelerating growth MBoe/d 100 Horizontal Volumes up 61 MBoe/d from 4Q 2011 75 50 25 0 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 DJ Basin-Horizontal…
DJ Basin 2013 Operations Focused on oil window with superior economics Accelerating Development Target 300 horizontal wells spud 3Q13 volumes up 30% from 3Q12 Northern Delineating New Areas of Colorado Northern Colorado Robust…
Marcellus 2013 Operations Accelerating drilling and completions in liquid-rich areas Wet Gas Dry Gas CNX Operated Increased Wet Gas Rig Count O NBL Activity 452,000 Gross Acres to Five and Target 80 Wells H NBL Operated Developing…
Global Offshore Major Projects Meaningful new production and sanctions targeted Exploration Success has Delivered Substantial Cash Flow and Value Strong Track Record of Major Project Delivery 4 major projects online within budget…
Rio Grande Area Big Bend and Troubadour Progressing development for near-term impact NBL Operated Development Big Bend 54%, Troubadour 60% WI Discovered Resources of Between 50 100 MMBoe Troubadour 75% oil Big Bend Recently…
Alen Condensate Project Bringing high-value liquids to production NBL Operated with 45% WI Gas-cycling and reinjection project Commenced Production Late 2Q 13 Start-up ahead of schedule Ramping to Full Operations Extended…
Tamar Project Long-term value for all stakeholders Tamar Online with Peak Deliverability Up to 1 Bcf/d First production 2.5 years from sanction industry leading cycle time 10 Tcf gross (NBL 36% WI) Near 100% Field and Facility…
Global Exploration Portfolio Substantial worldwide resource exposure Inventory of Prospects at Highest Level in Company History Past successes delivering new material production Pursuing additional core area and new venture…
Dantzler Prospect Mississippi Canyon 738/782 High-impact opportunity currently drilling Louisiana Louisiana NBL Operated with 45% WI Results Expected by YE 2013 50 220 MMBoe (P75 P25) gross unrisked resources Mississippi Canyon…
NBL Unique. By Design. Positioned for a decade of growth Diversified and Focused Asset Portfolio Delivering robust production and cash flow growth Significant contribution from all core areas Expanded Onshore U.S. Resource…