21st Credit Suisse Energy Summit Energizing the World, February 2016 Bettering Peoples Lives
Noble Energys Strategy and Purpose Energizing the World, Bettering Peoples Lives Premier Basins U.S. Unconventional and Global Offshore Diversified Portfolio of High Quality, Low-Cost Deep Inventory of Proved Reserves and Resources…
Premier Global Operations Exceptional investment optionality High-Quality, Diversified Asset Base Balanced Mix of Geography and Commodity Exposure Marcellus Shale All Core Areas with Visible Long- DJ Basin Eagle Ford & Delaware Term…
2015 Key Accomplishments Delivered outstanding operational success and strategic execution 2015 Objectives 2015 Outcomes Capital Aligned with Cash Flow Plug 3Q15 and 4Q15 Capital Less than Generated Cash Flow Protect Balance Sheet…
Aligning Capital and Cost with Environment Enhancing competitiveness for the future MM Capital and Cash Flow Activity Levels Reduced and 1,000 Focused on Highest Return Areas 750 DJ Basin activity in Wells Ranch and East 500 Pony…
Robust Financial Position 2016 plans focused on maintaining financial strength 5 Billion of Liquidity1 Well Managed Maturity Profile Debt-to-Capital 40%; Well Below MM 65% Covenant Level2 4,000 2016 Hedge Value Approximately…
Key 2016 Goals and Objectives Strengthen financial position and maintain capacity for long-term value Protect the Balance Sheet Disciplined and flexible investment plan Ensure Total Cash Inflows Match or Exceed Total Cash Outflows…
1.5 Billion 2016 Capital Program Disciplined and prudent investment approach Represents a 50% Reduction to 2015 Program While Maintaining 1.5 Billion Capex Agility and Flexibility 390 MBoe/d Volumes Majority of asset positions held…
9 Onshore U.S. Unconventional Operations Integrate learnings between basins to unlock resource value Significant Positions in Four Premier, Low-Cost U.S Basins Leveraging Core Competencies to Deliver 2016 Activity Capital: 1 Bn…
DJ Basin Focus on Wells Ranch and East Pony Highest value areas and leveraging existing infrastructure Operating Two Drilling Rigs During 2016 2016 lateral length average of 7,600 up materially from 2015 Realizing Normalized Costs…
Enhancing DJ Completions in Wells Ranch and East Pony New completion designs focus on higher proppant and slickwater Advanced Completions with Higher Proppant Concentration Cum. MBoe Testing range of 1,100-1,800 pounds 2015 Actuals w/…
Delaware Basin Operated Program Appraisal program underway NBLs Initial Completions Anticipated in Early 2016 Testing slickwater and hybrid gel completion designs 2016 activity 13 new drills and 10 TILs Focused on Wolfcamp A…
Impressive Results In the Eagle Ford New completion designs ahead of expected performance NBL Drilling and Completing S. Gates Ranch Lower Eagle Ford Some of the Most Productive Performance Cum. MBoe Wells in the Eagle Ford 360…
Gulf of Mexico Program Sustained value creation with visibility for significant growth Leveraging Benefits of New Project Startups Louisiana Swordfish 85% WI 2016 sales volumes nearly double 2015 Galapagos 50% reduction in capital…
Deepwater Major Projects Proven track record of exploration and development success Leading-edge Technology with Disciplined Processes Short Discovery to Production Cycle Times; Delivered Within Budget Integrated approach including…
West Africa Operations Substantial cash-flow with material upside Alba Compression Installation in First Half 2016 Increases flow of gas; primarily condensate to onshore facilities Extends the economic life of the field Maximizing…
Eastern Mediterranean Strategic assets positioned to meet regional market demand Tamar Performance Continues to Exceed Expectations 2015 average daily production of 800 MMcf/d Average uptime of 99% Government of Israel Implemented…
Eastern Mediterranean Gas Opportunities Current and expected demand far exceeds supply Significant Regional Export Potential 4 Bcf/d deficit growing to 9 Bcf/d led by Jordan, Egypt and Turkey demand Robust and Increasing Israel…
Noble Energy Beyond 2016 As the energy world continues to evolve Keys to Success: Remain Flexible and Agile Continue Operational Execution and Financial Strength Maintain High Quality Diversified Portfolio that Provides…