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BAML 2017 Global Energy Conference – Noble Energy, Inc.

Noble Energy, Inc. · Nov 16, 2017 · 16 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. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 1
    Bank of America Merrill Lynch Global Energy Conference November 2017
  2. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 2
    NOBLE ENERGY INVESTMENT THESIS Best assets, best execution, best results High-Graded Portfolio Focused on High-Margin U.S. Onshore Oil and EMED Industry-leading Drilling and Completion Performance Disciplined Capital Allocation…
  3. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 3
    SIGNIFICANT POSITIONS IN PREMIER LIQUIDS BASINS High-graded U.S. Onshore portfolio, 4.5 BBoe net unrisked resources STRATEGIC ACTIONS 2015-2017 Entered liquids-rich Eagle Ford Shale and Delaware Basin through ROSE Merger 365,000…
  4. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 4
    U.S. ONSHORE MARGIN EXPANSION Delivering improved margins from portfolio actions and focused capital Total USO Production* MBoe/d 23% Increase in Last 12 Months Increasing Cash Flow Margins 225 200 175 50% 150 increase in…
  5. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 5
    SUPERIOR U.S. UNCONVENTIONAL APPROACH Built to leverage shared learnings and drive efficiencies Resource Play Assessment and Exploitation Big data approach to opportunity recognition Proprietary Dataset of Over 2,000 Subsurface…
  6. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 6
    EXCEPTIONAL DRILLING RESULTS Competitively advantaged drilling capabilities Real Time Drilling Data Integration Accelerating Total Footage Drilled per Rig Enabling Rapid Design Optimization Leveraging predictive analytics to improve…
  7. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 7
    ENHANCED COMPLETIONS DRIVING OUTPERFORMANCE Boe/d per DJ Basin Weld County Driven by continuous improvement culture 1,000 ft 3-Month Production* Focus on Best Value Wells 90 Improving well productivity through higher 60 proppant…
  8. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 8
    DJ BASIN CO Low GOR focus areas driving higher oil mix Accelerating Value from Tail Inventory Leading Completion Designs Delivering Weld Continued Strong New Well Performance Record horizontal volumes of 103 MBoe/d in 3Q17 driven by…
  9. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 9
    DELAWARE BASIN TX Executing to plan, progressing development mode Southern Delaware Basin GOR Map Loving Winkler Differential Asset In Top-Tier Position NBL Acreage Largest Southern Delaware operator Reeves Ward 70-75% oil mix and…
  10. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 10
    INTEGRATED MIDSTREAM DEVELOPMENT NBLX provides both operating and financial advantages Major Project Mindset for Integrated Development and Infrastructure Planning in Delaware and DJ Basins 1.5 B 928 MM combined retained NBL ownership…
  11. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 11
    NEAR-TERM U.S. ONSHORE CATALYSTS Progressing long-term development and resource upside Rapidly Increasing Cash Flow and Volumes in 4Q17 USO Oil* Trajectory Up 40% 20+ wells online in each of Delaware/DJ Basins 1Q17 to 4Q17 10 wells…
  12. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 12
    EASTERN MEDITERRANEAN Cyprus Tamar 35% WI World-class resources in a high-demand region 32.5% WI Tamar 11 Tcfe and Leviathan 22 Tcfe Leviathan 39.7% WI Dor Gross Recoverable Resources Tamar currently supplying up to 60% of Israel…
  13. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 13
    LEVIATHAN: PHASE ONE 1.2 BCF/D FROM 4 WELLS Massive cash flow stream, payout within 3-4 years Phase One Low-cost Development Generating 800MM in Capital 3.75 B gross, 1.5 B net Excess Cash Flow** While LOE less than 0.40/Mcf Funding…
  14. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 14
    LEVIATHAN PROGRESS On target for first gas sales by end of 2019 Progressing Required 7.5% Tamar Line of Sight to Over 1 Bcf/d at Start-up Working Interest Sell-Down Leviathan Natural Gas Sales Contracts MMcf/d Targeted by end of 2018…
  15. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 15
    2018 GUIDING PRINCIPLES Growing long-term value to shareholders Committed to Improving Corporate Returns Investing in high-margin, high-return assets to drive double-digit corporate return over next few years Maintain Disciplined…
  16. BAML 2017 Global Energy Conference – Noble Energy, Inc. – slide 16
    Non-GAAP Reconciliations & Defined Terms 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…

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