Noble Energy / CONSOL Marcellus Joint Venture August 18, 2011
Strategic Impacts Further strengthens and rebalances portfolio f Adds New Core Growth Area Marcellus is one of the most economically attractive developments in NA Returns competitive with current portfolio Potential for net…
Transaction Summary f 50 Percent Interest in 663,350 Undeveloped Acres Total consideration of 7,100 per acre NPV10 1.07 B paid in 3 equal annual cash installments starting at closing 2.13 B in the form of a 33% carry of drilling and…
Marcellus Joint Venture Acreage f Large Acreage Position within CONSOL Acreage Marcellus Fairway Pennsylvania NBL to acquire 50% of 663,350 net acres Located in both wet and dry gas windows Ohio NBLs initial operations in wet…
Unique Structure Provides for Superior Value Creation f Partnering with a Well-known Experienced Appalachian Operator Joint oversight and operations results in sharing of best practices and expertise Allows for coordination with area…
Marcellus Joint Venture Great fit with Nobles strategy and portfolio f Competitive Access Cost for a High-quality Asset f Significant Scale and Impact f Large Inventory of Low-risk Projects with Competitive Returns f Unique…