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Barclays CEO Energy Power Conference – Noble Energy, Inc.

Noble Energy, Inc. · Sep 4, 2019 · 36 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. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 1
    Investor Handout September 2019
  2. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 2
    NBL Strategy To Drive Long-term Value www.nblenergy.com NYSE: NBL Diversified, low-cost producer with moderate growth and sustainable FCF Generate Competitive Return Significant Maintain Strong Increase Corporate Advance ESG FCF…
  3. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 3
    About NBL www.nblenergy.com NYSE: NBL Sustainable value creation Assets. Execution. Results. Maintain Top Tier, High-quality Portfolio Eastern Mediterranean Diversification of play type and geography for investment flexibility Gross…
  4. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 4
    Financial Position www.nblenergy.com NYSE: NBL Continued focus on financial strength Leverage and Liquidity Provide Financial Flexibility B Minimal Upcoming Debt Maturities 3.5 Robust liquidity of 4.4 B at end of 2Q19 3.0 4 B…
  5. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 5
    Performance-Based Executive Incentive Plan www.nblenergy.com NYSE: NBL Compensation aligned with shareholder interests to drive superior returns Long-term Incentive Plan (LTIP) LTIP represents approximately 70% of total executive…
  6. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 6
    Environmental, Social, and Governance Developments www.nblenergy.com NYSE: NBL Advancing our culture and positively impacting the communities where we work Environment Emissions: Reduced global GHG emissions by 6.4%; captured 384mcf of…
  7. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 7
    Safety and Environmental Performance www.nblenergy.com NYSE: NBL Protection of the environment is an integral part of our commitment to operational excellence Incidents per No Harm Culture Integrates Safety in All Operations 200,000…
  8. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 8
    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…
  9. Barclays CEO Energy Power Conference – 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. Barclays CEO Energy Power Conference – 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. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 11
    2Q19 Key Highlights www.nblenergy.com NYSE: NBL Focus on capital discipline and execution driving 2019 success Strong Operational Execution and Cost Control Capital expenditures lower than expected from U.S. onshore and offshore…
  12. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 12
    U.S. Onshore www.nblenergy.com NYSE: NBL Lower costs, higher volumes - resulting from ongoing efficiency improvements 2Q19 Key Highlights MBoe/d USO Net Production and Capex Capex (MM) 300 1,000 U.S. Onshore Efficiencies Trending…
  13. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 13
    U.S. Onshore www.nblenergy.com NYSE: NBL Well costs lower than budget MM Efficiency Gains Driving Savings across USO 9,500 Lateral Reducing cycle time and drilling, completion and facilities costs in all three basins 0.5 MM Record…
  14. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 14
    U.S. Onshore Marketing www.nblenergy.com NYSE: NBL Diversification provides price optionality and flow assurance U.S. Onshore Marketing Strategically Diversified Across End Markets DJ Basin Primary Price Index Managing price exposure…
  15. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 15
    USO Oil Takeaway www.nblenergy.com NYSE: NBL Significant pipeline expansions improving oil netbacks DJ Basin Securing Long-Term Takeaway at Lower Cost NBL has entered into a new contract with Saddlehorn Pipeline, which increases NBLs…
  16. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 16
    DJ Basin www.nblenergy.com NYSE: NBL Improving execution and efficiencies GOR: NBL Acreage Low Municipalities Mid High East Pony Continued Outperformance Delivered from DJ Basin Weld 1H19 operations generating cash flow above…
  17. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 17
    DJ Basin CDP Benefits www.nblenergy.com NYSE: NBL Comprehensive drilling plan (CDP) setting NBL apart Primary Operatorship Established CDP Key Statistics Designates NBL as operator on acreage and sole authority to Spans a square mile…
  18. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 18
    DJ Basin: 2019 Mustang Activity www.nblenergy.com NYSE: NBL Improving capital efficiency with design changes MBoe/d Mustang Production, Gross Mustang Driving Significant Volume Growth 60 (Row 1 and 2) Mustang Row 2 had 20 TILs in 2Q,…
  19. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 19
    DJ Basin Infrastructure www.nblenergy.com NYSE: NBL Processing additions support growing DJ Basin volumes NBL Well Positioned to Benefit from Near-term Processing Expansions Mustang activity planned in coordination with DCP Plant Wells…
  20. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 20
    Delaware Basin www.nblenergy.com NYSE: NBL Realizing the benefits of row development Reeves 10-well Base Performance and TIL Acceleration Calamity Record production as efficiencies accelerated 7 TILs into 2Q19 . Jane Row Currently…
  21. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 21
    Delaware Basin Activity www.nblenergy.com NYSE: NBL Transitioning to optimal multi-zone row development Leveraging Learnings from Delaware Drilling and Across U.S. Onshore Row Development Across 2 Miles Successfully executing row…
  22. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 22
    Delaware Basin www.nblenergy.com NYSE: NBL Leveraging row development to drive results Calamity Jane Development Highlights Execution Improvements 10 well row development driving drilling and completion efficiency gains Drilling and…
  23. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 23
    Eagle Ford www.nblenergy.com NYSE: NBL Cash generation continues TX Maximizing Asset Value 35,000 Dimmit L&E 2Q19 sales volumes of 54 MBoe/d Net acres Eagle Ford asset generating cash flow in excess of capital in Briscoe 2019,…
  24. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 24
    West Africa www.nblenergy.com NYSE: NBL Active production management, near-term developments, long-term potential Operational Execution Major Projects Future Opportunities 99% uptime YTD at Aseng, Aseng 6P production well spud Alen…
  25. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 25
    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…
  26. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 26
    Alen Gas Monetization www.nblenergy.com NYSE: NBL Entering the next phase of development Capital-efficient Development Primarily Utilizing Existing Infrastructure: Global LNG Sales EG LNG Minor modifications to the Alen platform Dry…
  27. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 27
    Eastern Mediterranean www.nblenergy.com NYSE: NBL World-class assets continue to provide differentiated outlook Maintaining Plateau Production at Tamar Near 1 Bcfe/d Gross. . . Aphrodite Tamar 35% WI 25% WI Leviathan Cash Flow Quickly…
  28. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 28
    Leviathan www.nblenergy.com NYSE: NBL Progressing towards first gas sales Under Construction Loading for Sail On Route to Israel Project Execution Continues with Sailing of Production Decks Project is on time and trending under…
  29. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 29
    EMed Regional Update www.nblenergy.com NYSE: NBL Multiple pathways to deliver Tamar and Leviathan natural gas exports to Egypt EMG Pipeline Agreements Low Cost Access to Growing INGL Pipelines Under Construction INGL Regional Demand Via…
  30. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 30
    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…
  31. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 31
    Exploration Program www.nblenergy.com NYSE: NBL Drilling activity planned for 2020: Wyoming (PRB) and Colombia Exploration Resource Newfoundland BBoe Portfolio 4 2.3 MM gross acres 25% WI, non-operated Wyoming Interpretation /…
  32. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 32
    Colombia Farm-In www.nblenergy.com NYSE: NBL Significant new exploration opportunity captured NBL 40% Operated Working Interest in Offshore Colombia 2 MM gross acres Colombia-3 and Guajira Offshore-3 blocks contain in excess of 2…
  33. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 33
    Key Deliverables Through 2019 www.nblenergy.com NYSE: NBL Operational momentum building 1Q 2Q 3Q 4Q 2020 and Beyond 500 MM free cash flow(1) returned to investors Modest annual production growth Capital below, Permian initial row…
  34. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 34
    www.nblenergy.com NYSE: NBL Appendix 35
  35. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 35
    Third Quarter and Updated 2019 Guidance www.nblenergy.com NYSE: NBL Capital and costs lowered; volumes raised Crude Oil and Natural Gas Total Third Quarter 2019 Guidance Natural Gas Full-Year 2019 Condensate Liquids Equivalent…
  36. Barclays CEO Energy Power Conference – Noble Energy, Inc. – slide 36
    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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