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Jefferies 2016 Energy Conference – Noble Energy, Inc.

Noble Energy, Inc. · Nov 30, 2016 · 22 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. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 1
    Jefferies Energy Conference Dave Stover Chairman, President and CEO November 30, 2016
  2. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 2
    Noble Energy Substantial momentum in DJ, Delaware and EMED Robust Four Year Plan. 2016-2020E: U.S. onshore oil grows at a 23 29% CAGR* DJ and Delaware increase to between 240 MBoe/d (base plan) and 300 MBoe/d (upside) Total company…
  3. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 3
    Recent Accomplishments Enhance Future Outlook 2015 and 2016 outcomes creating long-term value Expanded Portfolio with Entry into Two Top-Tier U.S. Basins Superior Materially De-Risked DJ Basin Development Environment Portfolio…
  4. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 4
    Well Positioned Entering 2017 Focused on delivering robust U.S. onshore growth Preliminary 2017 Outlook: 15%* U.S. Onshore Oil Growth Up 25%* 2H16 to 2H17 U.S. Onshore Oil Volumes 2H16 to 2H17E up 20 MBbl/d 2017E Volumes Raised…
  5. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 5
    Focused Outcomes Through 2020 Accelerating high-margin growth DJ and Delaware Increase to 240 MBoe/d in Base DJ, Delaware, and Plan and 300 MBoe/d in Upside EMED Volume Growth 390 MBoe/d Combined CAGR of 1926% Approximately 75% of…
  6. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 6
    High-Margin Growth Accelerates Cash Flow Even Faster ROACE* increases to 8 14% by 2020 Total Company Operating Cash Flow Grows Even Stronger (2016 2020E CAGR) Strong Total and Oil Volume Growth 35% (2016 2020E CAGR)** 29% 23%…
  7. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 7
    Fully Funded Business Plan Significant growth while improving the balance sheet Cumulative Sources & Uses Operating Cash Flows Exceed Total (2016 2020E) Capital (Excluding EMED) and Dividend Upside Additional EMED Portfolio…
  8. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 8
    Material Midstream Embedded Value A growing portion of the NBL value opportunity NBLX and CNNX with Access to Premier Over 2.5 B in Midstream Value to NBL B U.S. Onshore Assets 3.0 NBLX and CNNX yields in top quartile of MLP…
  9. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 9
    U.S. Onshore Top Tier Acreage in Premier Basins Complementary assets driving growth and value One of the Largest Independent U.S. Onshore Producers 352,000 net acres Combined 7 BBoe net unrisked 3,220 gross locations resources…
  10. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 10
    Leading U.S. Onshore Economics Extensive and high-quality inventory with competitive returns Near Term Focus Areas BTAX ROR USO Gross Inventory ROR % Wells 7,000 BTAX PV10 or Greater 100 6,000 75 5,000 4,000 50 3,000 2,000 25…
  11. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 11
    ROSE Merger: A Great Deal Gets Even Better Delivering value through early entry and activity acceleration Combined Texas Volumes Anticipated Between 165 and 195 MBoe/d by 2020, Up 80 - 120% Versus Merger Plan Generating Annual Net…
  12. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 12
    Delaware Basin: Long-term Growth Engine for the USO Portfolio 1 BBoe in the heart of the Delaware Net Unrisked Resource Increased by 145% to 1 BBoe NBL Acreage Loving Winkler Increased Drillable Footage by More Than 100% Accelerating…
  13. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 13
    New Completion Techniques Delivering Enhanced Results in the Delaware Faster learning curve accelerates value creation Leveraging Learnings from Across USO to ROSE NBL Optimize Completions Quickly transitioned to slickwater, high…
  14. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 14
    Delaware Basin Impactful Near-Term Catalysts Focused on long laterals, pad drilling and multi-zone testing High Intensity Completions NBL Acreage Ward Multi-Zone Development Testing 3,000 lbs/ft to 7-well pad with 7,500 ft 5,000…
  15. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 15
    Delaware Basin Bolt-On Acquisition and Leasing Update Combined transactions increase core Reeves County acreage by nearly 20% Enhances Contiguous Position in Delaware Basin Adds 7,200 net acres and net production of 2,400 Boe/d…
  16. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 16
    DJ Basin: Foundational Asset of the USO Portfolio Large, high-quality, contiguous acreage position Total Sales Volume 11-16%* CAGR 2016-2020E NBL Acreage Low GOR Mid GOR Wells Ranch Type Curve Raised to 1 MMBoe for IDP Areas High…
  17. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 17
    Technical Expertise Driving Evolution of DJ Basin Completion Designs Enhanced completions increasing ultimate recovery Enhanced Completion Designs Driving Improved Well Productivity 2014 2015 2016 Openhole Completion Openhole…
  18. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 18
    EMED: World-class Resources in a High-Demand Region Exceptional assets, margins, and growth Tamar 10 Tcf (Producing) and Leviathan 22 Tcf Gross Recoverable Resources Tamar supplying up to 60% of Israel power generation Leviathan…
  19. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 19
    Israel: Exceptional Performance at Tamar Stable volume and cash flow generation Record Sales Volumes of 313 MMcfe/d in Historical Tamar Net Sales Volumes MMcf/d 3Q 2016 350 Strong power generation demand 1.1 Bcf/d First exports to…
  20. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 20
    Noble Energy Clear path to differential performance and value creation Peer-leading Operational Performance Highly Competitive U.S. Onshore Outlook USO oil volume CAGR of 23-29% through 2020E Over a decade of inventory with at…
  21. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 21
    Price Deck Assumptions Period Base Plan Upside Plan WTI, Brent Henry Hub WTI, Brent Henry Hub (/Bbl) (/Mcf) (/Bbl) (/Mcf) 2017 50 3 60 3 2018 55 3 65 3 2019 55 3 65 3 2020 56 3 66 3 17-20 Avg 54 3 64 3 Note: Ranges of…
  22. Jefferies 2016 Energy Conference – Noble Energy, Inc. – slide 22
    Defined Terms Term Defined Terms and Divestment Adjustments Definition Operating Cash Flow GAAP Net cash provided by operating activities Operating Cash Flow (Revenue less lease operating expenses, production taxes, transportation,…

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