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2017 JP Morgan Energy Equity Conference – Noble Energy, Inc.

Noble Energy, Inc. · Jun 27, 2017 · 19 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. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 1
    JP Morgan Energy Equity Conference June 2017
  2. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 2
    NOBLE ENERGY INVESTMENT THESIS Best assets, best execution, best results Industry-leading Well Performance in Premier U.S. Onshore Basins 4.5 BBoe net unrisked resources, 7,500 liquids-rich drilling locations 30% U.S. Onshore oil…
  3. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 3
    GUIDING PRINCIPLES Enabling success in any price environment Disciplined Capital Management Flexible investment programs for commodity environment Balance cash outflows to cash inflows Maintain strong liquidity and balance sheet…
  4. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 4
    PORTFOLIO TRANSFORMATION Focusing portfolio on high-margin assets THEN ACTIONS NOW Diversified portfolio Entered liquids-rich Eagle Ford Shale Focus on fastest- and Delaware Basin through growing and with access to both ROSE Merger oil…
  5. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 5
    FINANCIAL POSITION Strong balance sheet enabled opportunistic growth Robust Liquidity B 5 B in Liquidity Through Time 6.0 Liquidity to total assets ratio above 20% from 2014-1Q17 4.0 No near-term debt maturities Generated over 4.5…
  6. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 6
    2017 KEY GOALS AND OBJECTIVES Substantial progress on outcomes for the year Goals Status Currently operating 8 USO drilling rigs (2 DJ Basin, 5 Accelerate Onshore Activities and Delaware, 1 Eagle Ford) Drive Capital Efficiencies…
  7. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 7
    SIGNIFICANT POSITIONS IN PREMIER, LOW-COST BASINS 4.5 BBoe net unrisked resource potential, 7,500 liquids-rich locations Over 65% Inventory with Wells Breakeven Below 40 8,000 BTAX PV10 or Greater 6,000 352,000 net acres 3,220…
  8. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 8
    DELAWARE BASIN: TOP-TIER POSITION TX Superior, contiguous position with midstream advantage 2nd Largest Southern Delaware Operator Southern Delaware Basin GOR Map 118,000 Creating Differential Value with Long Net acres Laterals,…
  9. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 9
    DELAWARE BASIN: LEADING PERFORMANCE Optimizing completion design for optimum value Continued Outperformance Cum. MBoe Delaware Wolfcamp A Well Results 250 1Q17 Wells Trending 35% Above 1.2 MMBoe 200 Type Curve After 60 Days Top 2…
  10. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 10
    DJ BASIN: TOP-TIER POSITION CO Large, high-quality, contiguous acreage position Creating Differential Value with Long Laterals, 352,000 Weld Midstream Advantage and High Liquids Content Net acres East Pony Greeley Crescent Recent…
  11. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 11
    DJ BASIN: LEADING PERFORMANCE Success with enhanced completions extending beyond Wells Ranch Cum. MBoe Wells Ranch Recent Results* Enhanced Completions 140 120 100 Wells Ranch High Intensity Completions Continue 80 to Outpace Type…
  12. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 12
    EAGLE FORD: PROLIFIC ASSET POTENTIAL TX Significant growth contributor in 2017 35,000 Dimmit Net acres 2017 Activity Focused in Highly Prolific South Gates Ranch Lower Eagle Ford 360 30 South Gates Ranch wells online in Gross…
  13. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 13
    EXPANDING MIDSTREAM Advantaged position in DJ and Delaware Basins DJ Basin Delaware Basin Differentially Positioned Unlocking Development Mode with First NBLX Process and gather own gas in East Pony Central Gathering Facility by…
  14. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 14
    MATERIAL MIDSTREAM EMBEDDED VALUE NBLX is a growing portion of the NBL value opportunity Substantial Growth in Cash Flow Distributions(5) to NBL MM 556 MM 100 IDR Distributions received to date IPO proceeds, 75 LP Distributions…
  15. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 15
    EASTERN MEDITERRANEAN World-class resources in a high-demand region Tamar 10 Tcf (Producing) and Leviathan 22 Tcf Gross Recoverable Resources Tamar currently supplying up to 60% of Israel power generation Expanding Ultimate Gross…
  16. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 16
    LEVIATHAN: PHASE ONE 1.2 BCF/D FROM 4 WELLS Steady cash flow stream, payout within 3-4 years Life of Project Cash Flows* Phase One Low-cost Development Partnership Government of Israel Capital 3.75 B gross, 1.5 B net 40% 60% LOE…
  17. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 17
    NOBLE ENERGY Competitively advantaged to deliver differential performance Superior Portfolio Top-tier U.S. Onshore asset quality and inventory depth Integrated midstream business delivers financial and operational advantages Capital…
  18. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 18
    Non-GAAP Reconciliations Pre-tax operating cash flow (Non-GAAP) and free cash flow (Non-GAAP) should not be considered an alternative to, or more meaningful than, operating cash flow (GAAP). Our management believes and certain…
  19. 2017 JP Morgan Energy Equity Conference – Noble Energy, Inc. – slide 19
    Appendix Price deck assumptions and defined terms Base Plan Upside Plan Period WTI, Brent (/Bbl) Henry Hub (/Mcf) WTI, Brent (/Bbl) Henry Hub (/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…

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