Noble Energy Strategic Focus Delivering leading returns and value Drive Industry-leading Development and Operation of Top-Tier Onshore Assets Drilling, completion, and infrastructure advantages Over 9,700 U.S. onshore future…
2016 Summary Review Leading operational and strategic execution De-Risked DJ Basin Development Environment Superior Regulatory Framework Enables Israels Natural Gas Future Portfolio Increased Flexibility and Control over Marcellus…
Key 2017 Goals and Objectives Entering multi-year high-margin growth cycle Enhance Capital Efficiency While Accelerating Onshore Activity Continue to optimize drilling and completion performance across basins Deliver material resource…
2017 Outlook and Capital Program Substantial growth throughout 2017 2017 Capital Program* Organic Capital Expenditures* Expected between 2.3 - 2.6 B Capital Focused on U.S. Onshore and Leviathan Development 75% allocated to U.S.…
Leading U.S. Onshore Operator with Top Tier Acreage 2 BBoe each in core oil positions in DJ and Delaware 352,000 net acres 3,220 gross locations 8,400 average lateral length Wells USO Gross Inventory of Nearly 10,000 Wells 2 BBoe…
Industry-Leading Combined Southern Delaware Basin Position Best-in-class assets and best-in-class operator Transaction Creates 2nd Largest Southern Delaware Operator Accelerating Activity and Applying NBL Expertise Leverage NBL…
CWEI Transaction Advances NBL Delaware Expansion Strategy Superior rock, contiguous acreage, and midstream competitive advantages Southern Delaware Basin GOR Map Creating Differential Value with Long Laterals, Midstream Advantage and…
Solid 4Q16 Delaware Results Exiting 2016 in full development mode Top Tier Wolfcamp A Re-affirmed Across Entire Acreage Position NBL Acreage* Sam Prewitt southern-most well with enhanced completion, above 1.2 MMBoe type curve Jersey…
DJ Basin: Foundational Asset of the USO Portfolio Large, high-quality, contiguous acreage position NBL Acreage Low GOR Creating Differential Value with Long Laterals, IDP Areas Mid GOR Midstream Advantage and High Liquids Content…
Strong DJ Basin Well Performance Enhanced completions continue to widen versus expectations Longer Plateau Production and Flatter Wells Ranch Enhanced Completions Results Declines from Enhanced Completions Cum. MBoe High initial…
NBLX: Strategic Midstream Assets Critical assets supporting NBL long-term growth 340,000 Net Dedicated Acres from NBL and a Third-Party Producer 300,000* in the DJ Basin 40,000 in the Delaware Long-term, fixed-fee commercial…
Eagle Ford: 2017 Growth Driver for the USO Portfolio Unlocking new resource potential Highly Prolific Wells with Exceptional Economics NBL Acreage South Gates Ranch EUR 3.5 MMBoe for 7,000 lateral L&E Testing enhanced completions on…
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…
World Class Leviathan Project Geologic similarities to Tamar, and 2x size at 22 Tcf gross recoverable resource Sanction Anticipated Within 1Q 2017 Doubling EMED Gross Capacity to 2.4 Bcf/d by 2020 Largest Discovery in Region at 34…
2020 Volume and Cash Growth Outlook High-margin production accelerates cash flow even faster Total Company Operating Cash Flow * (2016 2020E CAGR Pro forma) Strong Total and Oil Volume Growth 45% (2016 2020E CAGR Pro forma)* 34%…
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 production…