Skip to main content December 2012 Analyst Conference – Noble Energy, Inc. Investor Presentation | Shale Experts
Loading...
Pm

December 2012 Analyst Conference – Noble Energy, Inc.

Noble Energy, Inc. · Dec 6, 2012 · 161 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. December 2012 Analyst Conference – Noble Energy, Inc. – slide 1
    Noble Energy Analyst Conference December 6, 2012
  2. December 2012 Analyst Conference – Noble Energy, Inc. – slide 2
    Agenda December 6, 2012 Analyst Conference Company Overview Chuck Davidson Chairman and CEO Operations Summary Dave Stover President and COO Financial Review Ken Fisher SVP and CFO DJ Basin Dan Kelly VP Wattenberg Marcellus…
  3. December 2012 Analyst Conference – Noble Energy, Inc. – slide 3
    Agenda December 6 Analyst Conference Gulf of Mexico John Lewis VP U.S. Southern Region Eastern Mediterranean Rodney Cook SVP International West Africa Rodney Cook SVP International Exploration Susan Cunningham SVP Exploration…
  4. December 2012 Analyst Conference – Noble Energy, Inc. – slide 4
    Company Overview Chuck Davidson Chairman and CEO
  5. December 2012 Analyst Conference – Noble Energy, Inc. – slide 5
    Noble Energy NOW Delivering multi-year growth while building the portfolio Five Core Areas Delivering Outstanding Results Production expected to more than double by 2017 Proven reserves projected to increase 114% over 5 years…
  6. December 2012 Analyst Conference – Noble Energy, Inc. – slide 6
    Accomplishments Since 2011 Analyst Day NOW an even brighter outlook for the future Substantially Expanded Discovered Resource Base in DJ Basin and Marcellus Shale Higher EURs and recoveries Accelerated Horizontal Niobrara Activity…
  7. December 2012 Analyst Conference – Noble Energy, Inc. – slide 7
    Debt-Adjusted* Growth per Share A premier plan that continues to improve Compound Annual Growth Rate (CAGR) 2010 Analyst Conference (2010 - 2015) 2011 Analyst Conference (2011 - 2016) 22% 18% 18% 15% 10% 5% Reserves…
  8. December 2012 Analyst Conference – Noble Energy, Inc. – slide 8
    Debt-Adjusted* Growth per Share A premier plan that continues to improve Compound Annual Growth Rate 2010 Analyst Conference (2010 - 2015) 2011 Analyst Conference (2011 - 2016) 2012 Analyst Conference (2012 - 2017) 24% 22% 21%…
  9. December 2012 Analyst Conference – Noble Energy, Inc. – slide 9
    5-Year Debt Adjusted Growth Metrics Likely propels NBL to top performer Production Per Share Cash Flow Per Share Stock Return CAGR 2006-2011 2008-2013E Stock Return CAGR 2006-2011 2008-2013E NBL NBL 2012-2017…
  10. December 2012 Analyst Conference – Noble Energy, Inc. – slide 10
    Key Outcomes by 2017 Superior operational and financial performance Discretionary Cash Flow* Proved Reserves B BBoe 8 7.4 3.0 2.6 6 2.0 4 1.0 2 0 0.0 2012 2013 2017 2011 2016 Net Production Return on Average Capital MBoe/d…
  11. December 2012 Analyst Conference – Noble Energy, Inc. – slide 11
    Conference Themes Highly transparent growth continuously capturing new options Unique Ability to Tap Multiple Assets for Growth Diverse portfolio continues to provide options while reducing risk Enhancing Project Performance…
  12. December 2012 Analyst Conference – Noble Energy, Inc. – slide 12
    Operations Summary Dave Stover President and COO
  13. December 2012 Analyst Conference – Noble Energy, Inc. – slide 13
    Global Operating Strategy Executing and accelerating the business plan Focus on Five Core Operating Areas DJ Basin, Marcellus, Deepwater GOM, Eastern Mediterranean and West Africa Convert Discovered Resources to Production Excel…
  14. December 2012 Analyst Conference – Noble Energy, Inc. – slide 14
    Environment, Health and Safety Initiatives Creating value through responsible leadership Issued First Sustainability Report Highlights NBLs shared value strategy in social responsibility Full report online Top Quartile Safety…
  15. December 2012 Analyst Conference – Noble Energy, Inc. – slide 15
    Global Deepwater Execution Consistent delivery of large-scale projects Global Offshore Projects Portfolio of World-Class Cycle-Time Comparisons Resources Utilizing Proven Project 3,000 NBL Projects Management Practices External…
  16. December 2012 Analyst Conference – Noble Energy, Inc. – slide 16
    An Early Look at the U.S. in 2013 Streamlined portfolio providing dramatic growth DJ Basin Net resources raised to 2.1 BBoe, up 60% Activity increases by 50% with over 300 wells Production up 25% topping 100 MBoe/d before year…
  17. December 2012 Analyst Conference – Noble Energy, Inc. – slide 17
    An Early Look at International in 2013 Two new large-scale projects providing long-term impact Eastern Mediterranean Tamar start-up scheduled for April Net sales volumes to double Progress Leviathan development West Africa…
  18. December 2012 Analyst Conference – Noble Energy, Inc. – slide 18
    2013 Capital Outlook Investing in long-term sustainable growth Accelerate Horizontal Niobrara Oil and Wet Gas 3.9 Billion Marcellus Programs Cap New Interest Other Allocate 60% to U.S. Onshore Ventures Developments Eastern Med…
  19. December 2012 Analyst Conference – Noble Energy, Inc. – slide 19
    2013 Volumes Substantial growth in core areas 20% Year Over Year Increase, Adjusting for Divestments Expect to Exit 2013 Around 300 MBoe/d MBoe/d 300 270 282 239 240 230 231 Growth Areas 225 DJ Basin Up 25% Divestments Growth…
  20. December 2012 Analyst Conference – Noble Energy, Inc. – slide 20
    Crude Oil Volume Growth Up 83 percent in last two years Over 50% Priced at Brent or LLS % of Total MBbl/d Volume 120 75% +20% 90 +52% 50% 60 25% 30 0 0% 2010 2011 2012 2013 Crude Oil % Total Volume Note: From…
  21. December 2012 Analyst Conference – Noble Energy, Inc. – slide 21
    Net Risked Resources* Substantial growth and de-risking in portfolio Net Risked Resources (BBoe) 9.9 +34% 7.4 +75% +45% 4.2 2.9 62% 60% 50% 2008 2010 2011 2012** Proved Reserves Discovered Unbooked Core Area…
  22. December 2012 Analyst Conference – Noble Energy, Inc. – slide 22
    Resource Growth From 2011 U.S. onshore expanding along with high-impact new ventures Net Risked Resources (BBoe) 0.4 9.9 0.8 N.E. Nevada Play 0.4 Falkland 0.9 Islands Entry Marcellus Expansion 7.4 DJ Basin…
  23. December 2012 Analyst Conference – Noble Energy, Inc. – slide 23
    Resource Base Strong foundation for current and future growth Exploration 3.7 BBoe Total Resources (BBoe) Eastern 18.8 DW Med. West GOM Africa U.S. Onshore New Ventures 9.9 Discovered Unbooked 5.1 BBoe DJ Basin…
  24. December 2012 Analyst Conference – Noble Energy, Inc. – slide 24
    Proved Reserves Outlook More than double over the next five years All-in Reserve Replacement* Accelerating growth Proved Reserves (BBoe) 296% 2.6 164% 16% CAGR 2007 - 2011 Projected 2012 - 2016 7% CAGR 1.2 0.9 Reserve Adds…
  25. December 2012 Analyst Conference – Noble Energy, Inc. – slide 25
    Historical Organic Capital* Focusing investments on our core areas 100% 80% 60% 40% 20% 0% 2006 2007 2008 2009 2010 2011 2012 DJ Basin Eastern Med. West Africa Marcellus Deepwater GOM Non-Core * Term defined…
  26. December 2012 Analyst Conference – Noble Energy, Inc. – slide 26
    Organic Cash Capital* Outlook Delivering growth through disciplined investing 2012 2016 Capital Down 300 MM vs. 2012 2017 2011 Analyst Conference By Area B Other Eastern 8 Med. DJ Basin West Africa 6 Marcellus DW GOM 4…
  27. December 2012 Analyst Conference – Noble Energy, Inc. – slide 27
    Production Outlook Strong diversified growth from discovered projects MBoe/d 600 540 MBoe/d 500 17% CAGR 116 MBoe/d 400 300 300 MBoe/d 200 100 0 2012 2013 2014 2015 2016 2017 Base Onshore Horizontal Offshore…
  28. December 2012 Analyst Conference – Noble Energy, Inc. – slide 28
    Discretionary Cash Flow* Outlook Growing a billion dollars per year 2012 2012 2016 DCF Up 650 MM vs. Eastern Other 2011 Analyst Conference Med. B DJ Basin 8 West Africa 21% CAGR Marcellus 6 DW GOM 2017 4 Eastern…
  29. December 2012 Analyst Conference – Noble Energy, Inc. – slide 29
    Global Operations Summary Enhancing the plan through successful execution Established Track Record of Major Project Delivery Technological Expertise Unlocking Unconventional Resource Value Risked Resource Portfolio Grows 34% to…
  30. December 2012 Analyst Conference – Noble Energy, Inc. – slide 30
    Financial Update Kenneth Fisher Senior Vice President and CFO
  31. December 2012 Analyst Conference – Noble Energy, Inc. – slide 31
    Financial Strategy Ensure capital structure to support business value creation Deliver Sustained Growth at Attractive Returns Fund Material Organic Exploration Program and Long-Cycle, Long-Lived Major Projects Proactively…
  32. December 2012 Analyst Conference – Noble Energy, Inc. – slide 32
    Finance Framework To ensure delivery of value Capital Discipline Portfolio Management for Returns and Value Robust Balance Sheet to Support High Return Growth Minimum liquidity levels Conservative leverage metrics Robust to Cash…
  33. December 2012 Analyst Conference – Noble Energy, Inc. – slide 33
    Robust Financial Position Well-positioned to fund long-term growth plans 5.6 Billion of Liquidity* MM Well-Managed Maturity Profile 1.6 B cash on hand 1,600 4.0 B unused revolver 1,200 Net Debt-to-Capital Ratio 24% 800 Total…
  34. December 2012 Analyst Conference – Noble Energy, Inc. – slide 34
    Discretionary Cash Flow* Grows 1.0 B per year from 2013 2017 B 8 7 21% CAGR 6 5 4 3 2 1 0 2012 2013 2014 2015 2016 2017 * Term defined in appendix 35
  35. December 2012 Analyst Conference – Noble Energy, Inc. – slide 35
    Liquidity* Strong liquidity vs. investment grade peers 35% Liquidity as a % of Total Assets 3.00 S&P Liquidity Metrics 6 30% 2.50 4 25% Liquidity / Total Assets Strong to Exceptional Liquidity Sources minus Uses…
  36. December 2012 Analyst Conference – Noble Energy, Inc. – slide 36
    2013 Year End Financial Projections Enhanced position vs. 2011 Analyst Conference Liquidity* Net Debt-to-Capital FFO* / Total Debt* 4.2 B 64% 55% 3.0 B 34% 26% 2011 Analyst 2012 Analyst 2011 Analyst 2012 Analyst 2011…
  37. December 2012 Analyst Conference – Noble Energy, Inc. – slide 37
    Financial Projections Maintaining metrics well within investment grade range Debt-to-Capital Ratios FFO* / Total Debt* 40% 120% 100% 30% 80% 20% 60% 40% 10% 20% 0% 0% 2011 2012 2013 2014 2015 2016 2017 2011…
  38. December 2012 Analyst Conference – Noble Energy, Inc. – slide 38
    NBL Dividend Commitment to competitive payout Over Last Eight Years, NBLs Dividend Per Share has Grown at a 35% CAGR Leads the peer group Dividends Accounted for 9% of Total Shareholder Return from 2004 2012 2004 2012 Dividend…
  39. December 2012 Analyst Conference – Noble Energy, Inc. – slide 39
    Proactive Risk Management A core competency for NBL Commodity Hedging Program Cash Flow at Risk (CFAR)* Insurance Program Credit Risk Management Enterprise Risk Management Initiatives Global Compliance Program 430+ Global…
  40. December 2012 Analyst Conference – Noble Energy, Inc. – slide 40
    Commodity Hedging Proactively hedged through 2014 Hedge Up to 50% of Production for the Current Plus Two Calendar Years Strong Program Governance and Oversight Reduces Near-Term Cash Flow Volatility to Support Financial Commitments…
  41. December 2012 Analyst Conference – Noble Energy, Inc. – slide 41
    Cash Flow at Risk (CFAR)* Stress Testing: 2013 2015 Highly confident of meeting all funding commitments Cash Flow from Operations Monte Carlo Cumulative Probability of Occurrence Simulation 95% Worst NBL Commodity price Case Plan…
  42. December 2012 Analyst Conference – Noble Energy, Inc. – slide 42
    Comprehensive Insurance Program Broad range of coverage focused on key risks Broad Insurance Coverage for Worldwide Assets Through Oil Insurance Limited (O.I.L.) and Commercial Markets Operating assets Assets under construction…
  43. December 2012 Analyst Conference – Noble Energy, Inc. – slide 43
    Israel Insurance Coverage Well insured for specific country risks Normal Business Risks Property / Well Control Business Interruption Coverage to fully replace offshore Commercial Energy Package platform or onshore terminal…
  44. December 2012 Analyst Conference – Noble Energy, Inc. – slide 44
    Financial Action Plan Strength to deliver value Scale Minimum Liquidity Levels to Support Growth Minimum liquidity: 2.5 B today 4.0 B by 2016 Ensure flexibility to address evolving business needs Continue Proactive Commodity…
  45. December 2012 Analyst Conference – Noble Energy, Inc. – slide 45
    DJ Basin Dan Kelly Vice President Wattenberg
  46. December 2012 Analyst Conference – Noble Energy, Inc. – slide 46
    NBL Leading the Way Wattenberg and Northern Colorado Premier Oil Play that Compares Favorably to Other Plays Net Resources Dramatically Increased to 2.1 BBoe Delivering Five Year Production CAGR Over 20% Rapidly Accelerating…
  47. December 2012 Analyst Conference – Noble Energy, Inc. – slide 47
    Niobrara is a Top Oil Resource Play Superior resources and low development costs Oil Play Characteristics Well Characteristics OOIP Avg. Avg. D&C Lateral Net* Depth Thickness (MMBoe / EUR Liquids Capital Length F&D (Feet) (Feet)…
  48. December 2012 Analyst Conference – Noble Energy, Inc. – slide 48
    Niobrara is a Top Oil Resource Play Outstanding well economics Various Analyst Quotes Before Tax Returns 60% Wattenberg and North Colorado Niobrara among the most economic plays 40% 20% We believe NBL has cracked the code in…
  49. December 2012 Analyst Conference – Noble Energy, Inc. – slide 49
    Premier Acreage Position 8,000 locations in oil window 640,000 Net Acres Wyoming Nebraska 80% in the oil window Northern 410,000 Net Acres in Colorado the Greater Wattenberg Area (GWA) 290,000 net acres in the oil window…
  50. December 2012 Analyst Conference – Noble Energy, Inc. – slide 50
    Dramatic Growth in Recoverable Resources Well established and still unlocking potential Risked Recoverable Resource Net Risked Resources Up Over 60% to 2.1 BBoe (BBoe) Nearly Doubled Risked Hz Locations to 9,500 Avg. 66-acre…
  51. December 2012 Analyst Conference – Noble Energy, Inc. – slide 51
    DJ Basin Resources and Drilling Inventory Development strategy focused on oil 2.1 BBoe Net Risked Resources GWA oil 1,400 MMBoe GWA gas 400 MMBoe N. Colorado oil 300 MMBoe 9,500 Total Risked Gross Northern Colorado Hz…
  52. December 2012 Analyst Conference – Noble Energy, Inc. – slide 52
    DJ Basin Well Economics Strong returns over a broad price range GWA Gas GWA Oil BT Economics* Window Window East Pony EUR (MBoe) 435 335 345 Liquids (%) 45% 65% 85% Well Cost (MM) 4.5 4.5 4.9 NPV10 (MM) 3.6 3.9 6.0 ROR (%) 65%…
  53. December 2012 Analyst Conference – Noble Energy, Inc. – slide 53
    Accelerating Development Program Double 2012 activity in two years 50% More Wells in 2013 Horizontal Wells than 2012 Wells Cum Wells 600 3,000 300 actual wells or 350 standardized on 4,500 ft. lateral lengths 450 2,000…
  54. December 2012 Analyst Conference – Noble Energy, Inc. – slide 54
    DJ Basin Production Outlook Horizontal activity driving liquids growth 5-Year CAGR Increased from 15% to 20% 2013 production growth of 25% year over year Oil volumes escalates 3.5 fold in 5 years Nearly 10 Billion of Capital 2013…
  55. December 2012 Analyst Conference – Noble Energy, Inc. – slide 55
    Dramatic Results from Accelerating Program Generating significant free cash flow Net Production Net Capital MBoe/d Cum 265 MMBoe, up 35% MM Cum 9.8 B, up 22% 200 3,000 2,000 100 1,000 0 0 2013 2014 2015 2016 2017 2013 2014 2015…
  56. December 2012 Analyst Conference – Noble Energy, Inc. – slide 56
    Evolution of Total System Resource Three-fold increase in original oil in place (OOIP) Wells Ranch Example MMBoe/ Section 2009 2011 Niobrara A 4 Wells 75 ft. 75 ft. Niobrara B 24 Niobrara C Niobrara D Recovery Factor: 5%…
  57. December 2012 Analyst Conference – Noble Energy, Inc. – slide 57
    Results from World-Class Data Collection Multiple strategies to optimize recoveries Estimated Oil in Place Wyoming Nebraska Tripled 60.0 MMBoe/Sec Five Strategically Placed Core Wells 90.2 MMBoe/Sec Over 2,100 ft. of core with…
  58. December 2012 Analyst Conference – Noble Energy, Inc. – slide 58
    In-Situ Underground Laboratory Applying cutting edge technology 40-Acre Spaced Wells Exhibit Wells Ranch Section 25 Best Performance to Date One Section (One Square Mile) 80-acre No Production Interference Spacing 4 Well Pad All…
  59. December 2012 Analyst Conference – Noble Energy, Inc. – slide 59
    Optimizing Resource Recovery Potential for over 30 wells per section Testing Three Development Wells Ranch Section 24 Concepts/Patterns North Pad Niobrara A, Niobrara B, Codell 5 Wells North Pad 40-acre spacing with multiple…
  60. December 2012 Analyst Conference – Noble Energy, Inc. – slide 60
    Northern Colorado Niobrara Leveraged expertise to unlock new opportunity Approximately 80 Well Wyoming Nebraska Program in 2013 East Pony Area Superior Economics in East Pony 1-year payout BT Lilli Plant Producing 80% oil…
  61. December 2012 Analyst Conference – Noble Energy, Inc. – slide 61
    Extended-Reach Laterals Generating outstanding results About 60 Wells Planned for 2013 Three New Wells Online Avg. lateral lengths 9,100 ft. Avg. 15 days to drill Avg. drill and complete costs 8.3 MM Boe/d Returns 100%+ BT,…
  62. December 2012 Analyst Conference – Noble Energy, Inc. – slide 62
    Operational Excellence Delivering value in all phases of the business Efficiencies Driving 3 Billion of Discounted FCF* Margin Improvement 21% 23% 20% 26% 10% Key Drivers Base Well Cost Facility Consolidation Oil and…
  63. December 2012 Analyst Conference – Noble Energy, Inc. – slide 63
    Wattenberg Horizontal Niobrara Drilling Continuous improvement in drilling and completions Fit-for-Purpose Rigs, 24 Days Spud to Rig Release Pad Drilling Improving Efficiencies 18 Record Hz Well in 3Q12 at Less than 6 Days Spud…
  64. December 2012 Analyst Conference – Noble Energy, Inc. – slide 64
    Maximizing Value through Transforming Operations State-of-the-art technology and development application Centralized Facilities EcoNode EcoNodes and central processing Reduced capital, operating expenses, surface disturbance…
  65. December 2012 Analyst Conference – Noble Energy, Inc. – slide 65
    Midstream Infrastructure Near-term development plans aligned with infrastructure build out Program Focused in MMcf/d GWA Gross Operated Gas Liquids Rich Areas 500 Gross Operated Production Gas and Oil Production 400 Estimated…
  66. December 2012 Analyst Conference – Noble Energy, Inc. – slide 66
    Midstream Infrastructure Expansion underway Gas Processing Expansions of 900 MMcfd 2013 2015 NBL Oil Polishing Facility East Pony New 150 MBbl/d NGL DCP Lucerne 2 Pipeline Late 2013 (200 MMcf/d) DCP LaSalle Oil Takeaway…
  67. December 2012 Analyst Conference – Noble Energy, Inc. – slide 67
    NBL Leading the Way DJ Basin a Premier Oil Play 640,000 Net Acres Largest Delineated Acreage Position 2.1 BBoe Largest Net Recoverable Resource Oil Production Growing 3.5 Fold Over 5 Years Technological Leader Converting Knowledge…
  68. December 2012 Analyst Conference – Noble Energy, Inc. – slide 68
    Marcellus Shale John Lewis Vice President Southern Region
  69. December 2012 Analyst Conference – Noble Energy, Inc. – slide 69
    Marcellus Shale Value continues to be enhanced Partners Aligned and Implementing Best Practices Production has More than Doubled in 2012 to 140 MMcfe/d Well Results Better than Anticipated Well and Project Costs are Decreasing…
  70. December 2012 Analyst Conference – Noble Energy, Inc. – slide 70
    Marcellus JV Position Significant scale and growth Large Acreage Position within Marcellus Fairway PA OH 50% of 628,000 gross acres NBL Operated 87% of Acreage HBP 176,000 Gross Acres Allowing for Development Flexibility CONSOL…
  71. December 2012 Analyst Conference – Noble Energy, Inc. – slide 71
    Marcellus Production Outlook Higher peak production level Focusing Near-Term Activity MMcfe/d Net Production 1,500 in Wet Gas Areas Wet gas volumes slightly above 1,000 acquisition forecast 500 Dry gas activity directed toward…
  72. December 2012 Analyst Conference – Noble Energy, Inc. – slide 72
    Marcellus 2012 NBL Operations Focused on Majorsville Washington County OH PA SHL1: 5-well Pad Producing SHL3: 8-well Pad Producing SHL8: 10-well Pad Drilling Majorsville MD WV WEB4: 11-well Pad Drilling SHL6: 7-well Pad…
  73. December 2012 Analyst Conference – Noble Energy, Inc. – slide 73
    Marcellus 2012 CONSOL Operations Focused on highly productive areas with high NRI Ninevah 42 Pad OH PA Bowers Pad Drilling Completing Ninevah 41 Pad Completing Ninevah 38 DeArmitt 1, Aikens 5 and Completing Gaut 4 Pads…
  74. December 2012 Analyst Conference – Noble Energy, Inc. – slide 74
    Marcellus Technology Moving Forward Holistic approach that leverages learnings from DJ Basin Integrated Sub-Surface Analysis Integrating Cores Optimizing 3D Seismic Landing Zones Microseismic Leads To Well Spacing Logging while…
  75. December 2012 Analyst Conference – Noble Energy, Inc. – slide 75
    Marcellus Efficiency Improvements Costs are coming down Top Hole Costs are Down Completion Cost 18% After Two Pads Lowered by 10% 170 M per well 300 M per well on 5,000 ft. laterals MM Top Hole Costs M/ft. Completion Cost /…
  76. December 2012 Analyst Conference – Noble Energy, Inc. – slide 76
    Marcellus Efficiency Improvements Increasing lateral length significantly increases value EUR Increases Proportionately Bcfe SWPA EUR vs. Lateral Length 12 with Lateral Length Field Development Being 9 Optimized for Lateral Length…
  77. December 2012 Analyst Conference – Noble Energy, Inc. – slide 77
    Majorsville Wet Gas Development Strong performance and liquid yields 31,000 Acres in the Majorsville Majorsville Area Wet Gas Area Two Pads (13 wells) with Above Majorsville Expected Initial Rate Plant Another Pad (7 wells)…
  78. December 2012 Analyst Conference – Noble Energy, Inc. – slide 78
    Majorsville Wet Gas Production Performance Initial 13 wells exceeding expectations Majorsville Area Washington County SHL1: 5-well Pad Producing Normalized Average vs Type Curves MMcf/d 8 SHL3: 8-well Pad Producing Marshall…
  79. December 2012 Analyst Conference – Noble Energy, Inc. – slide 79
    Price Uplift for Wet Gas Nearly doubles value to over 7 per Mcf of wellhead gas /Mcf 8 7.10 15 Bbl/MMcf condensate at 80% WTI 6 50 Bbl/MMcf NGLs at 55% WTI 4 3.60 1,050 MMBtu 1,130 MMBtu residue gas 2 (includes ethane)…
  80. December 2012 Analyst Conference – Noble Energy, Inc. – slide 80
    Marcellus Shale Improving performance has increased resources to 10 Tcfe MMcf/d SWPA Wet Type Curves 5 4 PA 3 OH C PA Dry EUR up from 3.3 2 SW PA Wet to 4.4 Bcfe EUR up from 4.3 1 to 5.6 Bcfe Average New Acquisition 0 0 10…
  81. December 2012 Analyst Conference – Noble Energy, Inc. – slide 81
    Marcellus Shale Economics Attractive today with potential to improve Single Well Economics Todays Learnings Applied (5,000 Foot Lateral) to Future Program BT ROR Transferring DJ Basin techniques 80% Targeted 20% Current Reduction in…
  82. December 2012 Analyst Conference – Noble Energy, Inc. – slide 82
    Marcellus Gas Marketing Processing capacity and firm transportation captured MMcf/d Gross Majorsville Processing Processing 400 230 MMcf/d of processing capacity 300 at Markwest Majorsville facility 200 Option for additional 120…
  83. December 2012 Analyst Conference – Noble Energy, Inc. – slide 83
    Stand Alone Gathering Company Being Created 50/50 NBL and CONSOL ownership Provides Flow Assurance Current Capacities 75 miles of gathering MM Gross Gathering Revenue 600 300 MMcf/d 500 2017 Position 400 250+ miles of…
  84. December 2012 Analyst Conference – Noble Energy, Inc. – slide 84
    Marcellus 2013 Operations Ramping up wet gas activities Increase Wet Gas Rig Count from Three to Six and Target 85 Wells OH PA 3 rigs developing Majorsville 3 rigs delineating new areas 1 rig added in March, June and July…
  85. December 2012 Analyst Conference – Noble Energy, Inc. – slide 85
    Marcellus Shale Tremendous progress in our first year, more to come Rapid Production Growth Underway 2013 production to average 165 MMcf/d, up 80% over 2012 5-year CAGR of 55% Net Resources Increased 41% to 10 Tcfe Well EUR…
  86. December 2012 Analyst Conference – Noble Energy, Inc. – slide 86
    Gulf Of Mexico John Lewis Vice President Southern Region
  87. December 2012 Analyst Conference – Noble Energy, Inc. – slide 87
    Deepwater Gulf of Mexico Proven performance and impactful exploration portfolio Strategic Approach to Create Value Strong Historical Operational and Financial Performance Significant Recent Success High-Impact Exploration…
  88. December 2012 Analyst Conference – Noble Energy, Inc. – slide 88
    Deepwater Gulf of Mexico Long-lived producing assets and high-impact exploration potential Acreage Louisiana Producing Discovery Swordfish 2013-2014 Prospects Raton Santiago Sailfish Madison South Raton Isabela Troubadour…
  89. December 2012 Analyst Conference – Noble Energy, Inc. – slide 89
    Deepwater Gulf of Mexico Strategic approach to value creation Initial Deepwater Focus on Gross Unrisked Resource Exposure (Number of Prospects) Amplitude Plays Captured Material Subsalt MMBoe Miocene Prospects 800 Applied…
  90. December 2012 Analyst Conference – Noble Energy, Inc. – slide 90
    Deepwater GOM Prospect Inventory Focus on subsalt Miocene oil with follow-on opportunities Net Unrisked Resources Expiring 31 prospects (MMBoe) 1.6 BBoe net unrisked mean resources 600 470 MMBoe net risked mean resources 400…
  91. December 2012 Analyst Conference – Noble Energy, Inc. – slide 91
    Gunflint Appraisal and Development Commercial project established with first appraisal Estimated Gross Resource Tubular Bells Kodiak Range 90 325 MMBoe Devils Tower Includes significant untested Existing Facilities Lower…
  92. December 2012 Analyst Conference – Noble Energy, Inc. – slide 92
    Galapagos Project Exceeding expectations Three Well Subsea Boe/d Net Production 15,000 Tieback Resources of 135 MMBoe gross, 37 MMBoe net Start up June 2012 with 10,000 Initial Flow Rate Over 60,000 Boe/d Net 14,500 Boe/d…
  93. December 2012 Analyst Conference – Noble Energy, Inc. – slide 93
    Big Bend Discovery Exploration process delivers another high-quality project Average WI 28% WI 54% Reservoir Property Comparison Isabela Log Big Bend Log Isabela Big Bend M56 M56 30 ft. pay (M55) (M55) 44 ft. pay Porosity (%) 27…
  94. December 2012 Analyst Conference – Noble Energy, Inc. – slide 94
    Rio Grande Area Big Bend and Troubadour Significant oil potential Rio Grande Area Gross Resources NBL Operated P75 P25 (MMBoe) Big Bend (WI 54%) 30 65 Troubador (WI 87.5%) 20 60 Rio Grande Total (WI 70%) 46 112 If Subsea…
  95. December 2012 Analyst Conference – Noble Energy, Inc. – slide 95
    Exploration Prospects for 2013 2014 Balance of low-risk amplitude and high-impact subsalt prospects Acreage Louisiana Amplitude Subsalt Sailfish Madison Troubadour Yunaska Palladium Dantzler Prospect Type Gross…
  96. December 2012 Analyst Conference – Noble Energy, Inc. – slide 96
    Aleutians Area New play with running room, close to existing infrastructure Louisiana Subsalt Miocene Oil Play Three Prospects with Combined Gross Mean Resources of 339 MMBoe Mississippi Canyon Yunaska Likely First to Drill…
  97. December 2012 Analyst Conference – Noble Energy, Inc. – slide 97
    Mississippi Canyon Play Proven play with running room, close to existing infrastructure Louisiana Subsalt Miocene Oil Play Five Prospects with Combined Mississippi Canyon Gross Mean Resources of 673 MMBoe Pompano Existing…
  98. December 2012 Analyst Conference – Noble Energy, Inc. – slide 98
    Dantzler Prospect Mississippi Canyon High-impact, ready to drill late 2013 Louisiana Louisiana Gross Mean Resources of 270 MMBoe 50 315 MMBoe (P75 P25) 40% geologic chance of success Mississippi Canyon NBL Operated with 100% WI…
  99. December 2012 Analyst Conference – Noble Energy, Inc. – slide 99
    Deepwater Gulf of Mexico Converting resources to substantial value Strategic Approach has Delivered Strong Cash Flow and Stable Production Big Bend and Gunflint Sanctions in 2013 Lead to Additional Production in 2015 2017 Big Bend…
  100. December 2012 Analyst Conference – Noble Energy, Inc. – slide 100
    Eastern Mediterranean Rodney Cook Senior Vice President International

Showing the first 100 of 161 slides. Open the presentation viewer for the full deck.

From the store

Browse maps, data & reports in the Shale Experts store