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Year end 2018 Results and Guidance – Noble Energy, Inc.

Noble Energy, Inc. · Feb 19, 2019 · 25 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. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 1
    Year-end 2018 Results and Guidance February 2019
  2. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 2
    4Q18 Actuals vs. Guidance www.nblenergy.com NYSE: NBL Strong finish to 2018 with volumes above, expenses below expectations Financial & Operating Metrics 4Q Guidance 4Q Actuals Adjusted Net Income 4Q (MM) Total Sales Volumes (MBoe/d)…
  3. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 3
    U.S. Onshore www.nblenergy.com NYSE: NBL Robust well performance driving record quarter 4Q18 Key Highlights DJ Basin 22 wells online; 10,090 avg. lateral length Record U.S. Onshore Oil Volumes of 118 MBbl/d 2 avg. operated rigs; 1.5…
  4. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 4
    2018 Proved Reserves www.nblenergy.com NYSE: NBL Strong organic reserve replacement Total Proved Reserves Increased 5% Pro Forma for Year-end NBL Reserves 1.97 Divestments BBoe 1.93 2.0 Reserve additions(1) replaced FY18 production…
  5. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 5
    2018 Summary Review www.nblenergy.com NYSE: NBL Delivered significant strategic, operational and financial accomplishments Received , supporting long-term DJ Basin development Achieved Secured key long-term takeaway agreements for…
  6. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 6
    Focused Strategy www.nblenergy.com NYSE: NBL NBL is well-positioned for success NBL to Drive Sustainability through Cycles Planning for 50-55/Bbl WTI; Higher Prices Accelerate Returns to Investors Macro Environment Factors…
  7. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 7
    2019 Key Goals and Objectives www.nblenergy.com NYSE: NBL Positioning NBL for the next decade and beyond Continue to Enhance Sustainability Culture within NBL Maintain capital discipline, plan business activities for long-term 50 - 55…
  8. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 8
    2019 Capital and Volume Outlook www.nblenergy.com NYSE: NBL Capital discipline drives long-term free cash flow(1) 2019E Organic Capital(2): 2,400-2,600 MM Managing 2019 Capital Expenditures Towards Cash Flow Capital 17% lower from…
  9. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 9
    Portfolio Combination Provides Competitive Advantage www.nblenergy.com NYSE: NBL Step change in sustainable production profile with Leviathan start-up Eastern Mediterranean World-class natural gas reservoirs with low decline profile…
  10. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 10
    2020 and Beyond www.nblenergy.com NYSE: NBL Low maintenance capital allows for sustainable free cash flow(1) 200-300 MM Target Free Cash Flow(1) Over 500 MM in 2020 Capital(2) Drives 5-10% Growth Anticipate All FCF(1) Returned to…
  11. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 11
    U.S. Onshore www.nblenergy.com NYSE: NBL Relentless focus on capital efficiencies Driving Towards USO Asset-level Free Cash Flow(1) By Enhancing U.S. Onshore Capital Efficiencies Year-end 2019 Capital Down 25%, Production Up 10%(3) vs.…
  12. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 12
    DJ Basin www.nblenergy.com NYSE: NBL Differentiated oil-levered position, basin-leading performance NBL Acreage Municipalities GOR: Low Mid High East Pony Strategically Focused in Liquids-rich, Rural Areas Weld Enhanced scale in…
  13. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 13
    DJ Basin www.nblenergy.com NYSE: NBL Exceptional execution in 2018 Delivered Asset-level Free Cash Flow(1) and Production Above Plans in 2018 DJ Basin Production Growth 4Q18 production up 10% from 4Q17 and 15% from 1Q18 driven…
  14. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 14
    DJ Basin 2019 Activity www.nblenergy.com NYSE: NBL Building on 2018 successes Focused on Delivering Growth within Asset-Level FCF(1) 95-100 wells online in 2019, majority in Mustang area Over 9,500 ft. avg. lateral length Mustang IDP…
  15. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 15
    Delaware Basin www.nblenergy.com NYSE: NBL 2018 transitional year for NBL Permian program Delaware Basin Production Wells Early 2018 Activity Highly Concentrated on Appraisal MBoe/d Doubled Volumes FY18 vs. FY17 Online 60 60 Results…
  16. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 16
    Delaware Basin 2019 Activity www.nblenergy.com NYSE: NBL Further maturing development to deliver improved value 2019 Row Development in Core Areas Near Infrastructure Reeves Anticipate running 4 rigs and 2 crews on average in 2019…
  17. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 17
    Material Midstream Imbedded Value www.nblenergy.com NYSE: NBL NBLX delivering significant operating and financial synergies Majority of Infrastructure Necessary to Support Growth in DJ and Delaware Basin is Completed 628 MM 572 MM…
  18. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 18
    West Africa www.nblenergy.com NYSE: NBL Strong cash flow profile from existing production and project developments Maximizing Brent-linked Production from Existing Fields Improved base production declines in 2018, delivering FY18…
  19. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 19
    Eastern Mediterranean www.nblenergy.com NYSE: NBL Differentiated high-margin, long-life assets delivering sustained cash flows Aphrodite Tamar Maintaining Plateau Production at Tamar Near 1 Bcf/d Gross 35% WI 25% WI…
  20. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 20
    Eastern Mediterranean Leviathan Development www.nblenergy.com NYSE: NBL Project 75% complete; first gas sales on schedule for year-end 2019 Leviathan Major Project Development Remains On Schedule and On Budget Wells completed and flow…
  21. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 21
    International Inventory www.nblenergy.com NYSE: NBL Significant depth of high-return major projects driving long-term value Progressing Natural Gas Monetization Opportunities Leviathan and Alen projects provide near-term impacts…
  22. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 22
    Exploration Program www.nblenergy.com NYSE: NBL Anticipate testing 1 BBoe in 2020, less than 100 MM annually Exploration Resource Newfoundland BBoe Portfolio 4 2.3 MM gross acres 25% WI, non-operated Interpretation / 3 New…
  23. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 23
    www.nblenergy.com NYSE: NBL Appendix 23
  24. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 24
    2019 Guidance www.nblenergy.com NYSE: NBL Full-Year and First Quarter Crude Oil and Natural Gas Total First Quarter 2019 Guidance Natural Gas Full-Year 2019 Condensate Liquids Equivalent (MMcf/d) Sales Volumes LOW HIGH Sales Volume…
  25. Year end 2018 Results and Guidance – Noble Energy, Inc. – slide 25
    www.nblenergy.com NYSE: NBL Defined Terms and Price Deck Terms Definition Free Cash Flow (FCF) GAAP cash flow from operations less consolidated capital investments Asset-level Free Cash Flow Before income tax operating cash flow…

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