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February 2011 Credit Suisse Energy Summit – Noble Energy, Inc.

Noble Energy, Inc. · Feb 8, 2011 · 29 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. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 1
    Credit Suisse Energy Summit February 2011
  2. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 2
    Noble Energy Creating long-term value f Diversified but Focused Global Asset Portfolio Allows optimal capital allocation for superior returns f Exploration-led Growth Proven track record, game-changing opportunities f Broad Lineup…
  3. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 3
    Balanced, Diversified Portfolio Provides stability and strength Reserves YE 2009 820 MMBoe f Leverage to U.S. and International Markets United States f Well-balanced Exposure to Crude International Oil and Natural Gas f Quality…
  4. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 4
    Four Key Operating Areas Sustaining and transforming Noble Energy f Onshore United States Large inventory of low-risk projects Liquid focus with substantial exposure to horizontal Niobrara play f Gulf of Mexico Deepwater…
  5. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 5
    Exploration Track Record Measuring and building on success f Discovered nearly 2 BBoe in Net Resources Discovered Last 5 Years MMBoe 1,000 Very low finding costs per unit Replaced about 25 times annual production 750 f…
  6. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 6
    Total Net Risked Resources Over five times proved reserves Risked Resources (MMBoe) 8,400 Deepwater GOM US Eastern 4,600 Onshore Med West Africa Other 820 2009 Proved Risked Resources Unrisked Resources Reserves 2009…
  7. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 7
    Major Development Project Line-up Inventory of growth drivers Onshore Liquids U.S. Gas Horizontal Niobrara Deepwater Galapagos GOM Gunflint Eastern Tamar Med Leviathan Aseng West Africa Alen…
  8. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 8
    Conservative Financial Position Supporting long-term growth plans % Debt to…
  9. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 9
    Key Outcomes by 2015 Substantially enhancing operational and financial performance Production 10% CAGR to 350 MBoe/d Reserves 14% CAGR to 1.6 BBoe 5-Yr F&D of 11/Boe Cash Flow BTax Cash Margin* Up 28% to 43/Boe Returns ROACE…
  10. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 10
    WY Denver Julesburg Basin Combined Wattenberg and Central DJ basin NE Cheyenne f Built Premier Acreage Position in a CO Liquid-rich Play Denver Over 830,000 net acres Rig count 6 vertical, 2-3 horizontal Expanding to 5…
  11. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 11
    Wattenberg Field Benefitting from technology f NBLs Largest Onshore U.S. Field Continues to Grow About 400,000 net acres f Multi-Year Project Inventory Enhanced With Acquisitions f Strong Cash Margins Greater than 50% liquid…
  12. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 12
    Wattenberg Horizontal Niobrara Substantial improvement over vertical development Well Production Gemini 500+ MBoe 11 Hz Well Avg. 290 MBoe Avg. Vertical Well 40 MBoe 12
  13. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 13
    Central DJ Basin Niobrara Significant acreage position outside Wattenberg f Approximately 430,000 Net Acres Low entry cost 480 per acre f Over 1,000 Square Miles of 3D Seismic Planned for 2011 f Continuing to Appraise NE…
  14. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 14
    Deepwater Gulf of Mexico Ongoing development with significant exploration f Strong Production Base f Exploration Potential 1.9 BBoe Net Unrisked f Multiple Existing Discoveries Over 500 MMBoe risked potential Galapagos completion…
  15. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 15
    Galapagos Area Near-term impact for NBL Louisiana f Holds 130 MMBoe Gross Resources NBL 29% average WI Two-thirds oil Upside recoveries adds 65 MMBoe Mississippi Canyon f Project Development Plan Initial 2 well subsea tieback…
  16. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 16
    West Africa Generating multiple growth opportunities West Africa f Existing Production at Alba Field Net volumes 220 MMcf/d, 20 MBbls/d Gas sales to LNG and methanol plants f Exceptional Exploration Track Record Cameroon Alba…
  17. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 17
    West Africa Aseng Development High performance oil project f 40 MMBbl Net Oil Resources f On Schedule and On Budget All major contracts awarded All wells drilled, completions underway First oil expected mid 2012 at 17,000 Bbl/d…
  18. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 18
    West Africa Alen Development Liquid focused gas-cycling project f 32 MMBbl Net Oil, Condensate Resources 313 Bcf net gas resources f Gas-cycling Increases Liquids Recoveries f High-quality Reservoir Avg. porosity 24%,…
  19. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 19
    West Africa Exploration Meaningful potential with multiple play types f Continuing to Mature Deeper Oil Opportunities Cameroon f High-grading Additional Gas Block O Prospects YoYo f Cameroon 3D Seismic Acquisition Completed f…
  20. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 20
    Eastern Mediterranean Existing asset position f Reliable, High-Margin Operations at Mari-B f 3 Significant Gas Discoveries Eastern Mediterranean Tamar, Dalit and now Leviathan 25 Tcf gross mean resources (8.5 Tcf net) Leviathan…
  21. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 21
    Israel Mari-B Field Reliable and low cost operations f Sales Driven by Market Demand f Nearly 100% Reliability Since Inception 2004 f Solid Operating Margins Price realizations about 4/Mcf LOE 0.20/Mcf, DDA 0.40/Mcf f Investing…
  22. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 22
    Israel Tamar World-class discovery and development f Resource Estimated at 8.4 Tcf, Gross Superior reservoir - 1 darcy permeability and porosity 25% f Development Plan Approved 5 subsea completions with a flow rate of 200-250…
  23. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 23
    Israel Leviathan Largest discovery in NBL history f Natural Gas Discovery at Leviathan Minimum of 220 feet net pay Several high-quality Miocene reservoirs Confirmed pre-drill resource range 2 f Continue to Drill Deeper to…
  24. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 24
    Top 10 Deepwater Gas Discoveries From 2001 - 2010 f NBL Discovered and Operates the Top 2 TCF Recoverable Natural Gas 18 16 12 8.4 6 0 ) ) ) ) ) d) d) ) ) ) us (Is us…
  25. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 25
    Eastern Mediterranean Exploration Leading acreage position in a emerging basin f NBL Operates 3 MM Gross Acres f Four Consecutive Successes Based on Geologic Model and 3D Eastern Mediterranean Interpretation f 19 Prospects and…
  26. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 26
    Important Messages About Noble Energy Unrecognized potential and value f Discovered Resources Deliver Significant Growth in Reserves, Production and Margins f Focused Exploration Portfolio with Substantial Running Room f…
  27. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 27
    Price Assumptions Crude Oil WTI Natural Gas HH Period (/Bbl) (/Mcf) 2010 80.00 5.00 2011 82.50 5.50 2012 85.00 6.00 2013+ Inflated at 2% Inflated at 2% 5-Year Average 84.50 5.75 28
  28. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 28
    Defined Terms Term Definition Free Cash Flow Discretionary cash flow less capital Operating Cash Flow Revenue less lease operating expenses, production taxes, transportation, and income taxes AT Cash Flow Revenue less capital,…
  29. February 2011 Credit Suisse Energy Summit – Noble Energy, Inc. – slide 29
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