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March 2020 Investor Handout – Noble Energy Partners

Noble Energy Partners · Mar 3, 2020 · 38 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. March 2020 Investor Handout – Noble Energy Partners – slide 1
    Investor Handout March 2020
  2. March 2020 Investor Handout – Noble Energy Partners – slide 2
    www.nblenergy.com NASDAQ: NBL Forward-Looking Statements and Other Matters This presentation contains certain forward-looking statements within the meaning of federal securities laws. Words such as anticipates, plans, estimates,…
  3. March 2020 Investor Handout – Noble Energy Partners – slide 3
    NBL Strategy To Drive Long-term Value www.nblenergy.com NASDAQ: NBL Diversified, low-cost producer with moderate growth and sustainable FCF(1) Generate Competitive Free Cash Flow Yield Target significant organic FCF(1) in 2020 and…
  4. March 2020 Investor Handout – Noble Energy Partners – slide 4
    About NBL www.nblenergy.com NASDAQ: 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…
  5. March 2020 Investor Handout – Noble Energy Partners – slide 5
    2019 Proved Reserves www.nblenergy.com NASDAQ: NBL Grew Reserves, Strong Organic Reserve Replacement Total Proved Reserves Increased 6% to 2.05 BBOE Reserve additions(1) replaced FY19 production by 233% 728 MMBoe PUD conversions in…
  6. March 2020 Investor Handout – Noble Energy Partners – slide 6
    Financial Position www.nblenergy.com NASDAQ: NBL Continued focus on financial strength Leverage and Liquidity Provide Financial Flexibility B Minimal Upcoming NBL Debt Maturities Robust liquidity of 4.5 B at end of 4Q19 including 4.0 B…
  7. March 2020 Investor Handout – Noble Energy Partners – slide 7
    Delivering Key Outcomes For 2019 www.nblenergy.com NASDAQ: NBL Setting the stage for sustainable long-term FCF(1) Goals Accomplishments Further Enhance Capital / Cost Efficiency 5% Proforma production growth on 17% less capital as…
  8. March 2020 Investor Handout – Noble Energy Partners – slide 8
    Portfolio Combination Provides Competitive Advantage www.nblenergy.com NASDAQ: NBL Step change in sustainable production profile with Leviathan start-up Eastern Mediterranean World-class natural gas reservoirs with low decline…
  9. March 2020 Investor Handout – Noble Energy Partners – slide 9
    Multi-Year Capital Allocation Framework www.nblenergy.com NASDAQ: NBL Low maintenance capital allows for sustainable free cash flow(1) 2020 Plan 200-300 MM Target Free Cash Flow (1) 500 MM 50-55 WTI U.S. Onshore Growth Capital(2)…
  10. March 2020 Investor Handout – Noble Energy Partners – slide 10
    2020 Priorities www.nblenergy.com NASDAQ: NBL Executing strategy for long-term value creation Capital Efficiency Enhancement MM Capital Down 25%, Volumes up 10% MBoe/d Deliver Material Cash Flow and Volume Increase Through 2500 400…
  11. March 2020 Investor Handout – Noble Energy Partners – slide 11
    U.S. Onshore www.nblenergy.com NASDAQ: NBL Focused on continuous improvement MM USO Capital Allocation 2020 Key Focus 2,500 Lowering capital, focused on oil-rich basins 2,000 Cash Flow Generation All 3 basins expected to generate…
  12. March 2020 Investor Handout – Noble Energy Partners – slide 12
    DJ Basin www.nblenergy.com NASDAQ: NBL Long-term planning and execution continues to pay dividends Continued Outperformance in DJ Basin NBL Acreage Municipalities GOR: Low Mid High East Pony Nearly 800 MM in asset level free cash flow…
  13. March 2020 Investor Handout – Noble Energy Partners – slide 13
    DJ Basin www.nblenergy.com NASDAQ: NBL Long-term planning continues to pay dividends Mustang Illustrating Environmental Advantages of CDPs Mustang Econode facilities have reduced green house gas emissions 92% since 2018 CDP reduces…
  14. March 2020 Investor Handout – Noble Energy Partners – slide 14
    DJ Basin Infrastructure www.nblenergy.com NASDAQ: NBL Processing additions support growing DJ Basin volumes NBL Well Positioned to Benefit from Near-term Processing Expansions DCP Plant 11 (OConnor 2) Mustang diversified processing…
  15. March 2020 Investor Handout – Noble Energy Partners – slide 15
    Delaware Basin www.nblenergy.com NASDAQ: NBL Improving capital efficiency and returns Capital and Operating Cost Focus NBL Acreage Well costs continue to decrease, with 3 MM in savings from 4Q18 LOE per BOE down 31% from 4Q18 and 14%…
  16. March 2020 Investor Handout – Noble Energy Partners – slide 16
    U.S. Onshore www.nblenergy.com NASDAQ: NBL Continued capital and LOE reductions Operational Execution Improving Capital Costs Lowering Operating Expenses Drilling Pace Increased by 10% in the DJ 30% Well Cost Reduction in the U.S. DJ…
  17. March 2020 Investor Handout – Noble Energy Partners – slide 17
    USO Oil Takeaway www.nblenergy.com NASDAQ: 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…
  18. March 2020 Investor Handout – Noble Energy Partners – slide 18
    Noble Midstream www.nblenergy.com NASDAQ: NBL Resilient growth, stronger business mix 2016 IPO Current Pathway to Future Organic Growth Business expanded to over 30 new customers since 2016 IPO Customer Current Strategic partnership…
  19. March 2020 Investor Handout – Noble Energy Partners – slide 19
    Noble Midstream www.nblenergy.com NASDAQ: NBL 2020 showcasing efficiency improvements Gross Organic Capital Expenditures Reducing Capital to Reflect Activity and Efficiencies MM Trending Lower despite Stable TILs Connections 50%…
  20. March 2020 Investor Handout – Noble Energy Partners – slide 20
    Noble Midstream www.nblenergy.com NASDAQ: NBL Strategically diversifying the portfolio Executing on the Wellhead to Water Strategy EBITDA1,2 Equity Investment Inflection in 2020 CAPEX MM MM EPIC Crude mainline line fill underway for…
  21. March 2020 Investor Handout – Noble Energy Partners – slide 21
    Offshore www.nblenergy.com NASDAQ: NBL Conventional, low decline assets provide growing cash flows in 2020 International Capital Allocation 2020 Key Highlights EMed spend rolls off, Alen development starts MM 700 Israel WA Israel…
  22. March 2020 Investor Handout – Noble Energy Partners – slide 22
    West Africa www.nblenergy.com NASDAQ: NBL Strong cash flow profile from existing production and project developments 4Q20 Volumes Impacted by Field Downtime/Maintenance NBL Interests Alba Discoveries Alba downtime for LNG plant…
  23. March 2020 Investor Handout – Noble Energy Partners – slide 23
    Alen Gas Monetization www.nblenergy.com NASDAQ: 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…
  24. March 2020 Investor Handout – Noble Energy Partners – slide 24
    Leviathan Production Online www.nblenergy.com NASDAQ: NBL World-class field and execution: project more than 200 MM under budget Largest Private Infrastructure Project In Israels History and for NBL Doubles Israels total production…
  25. March 2020 Investor Handout – Noble Energy Partners – slide 25
    Eastern Mediterranean www.nblenergy.com NASDAQ: NBL 2020 begins new era of long-term sustainable growth Aphrodite Leviathan Tamar 35% WI 39.7% WI 25% WI Strong Regional Sales Outlook Dalit 25% WI Expecting combined regional sales…
  26. March 2020 Investor Handout – Noble Energy Partners – slide 26
    Leviathan www.nblenergy.com NASDAQ: NBL World-class reservoir size and quality Subsurface Quality Similar to Tamar, Larger Scale Tamar: 100 km2 Leviathan, similar to Tamar, produces dry natural gas (99% methane) Largest natural gas…
  27. March 2020 Investor Handout – Noble Energy Partners – slide 27
    Eastern Mediterranean www.nblenergy.com NASDAQ: NBL EMG infrastructure ready for significant exports Leviathan Closed Acquisition of Interest November 2019 Mechanical integrity of EMG Pipeline confirmed and Leviathan Amman certified…
  28. March 2020 Investor Handout – Noble Energy Partners – slide 28
    Colombia Exploration Catalyst in 2020 www.nblenergy.com NASDAQ: NBL Material resource opportunity in frontier basin NBL 40% Operated WI in 2 MM acres Offshore Colombia Colombia-3 and Guajira Offshore-3 blocks contain in excess of 2…
  29. March 2020 Investor Handout – Noble Energy Partners – slide 29
    International Inventory www.nblenergy.com NASDAQ: 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…
  30. March 2020 Investor Handout – Noble Energy Partners – slide 30
    2020 Performance-Based Executive Incentive Plan www.nblenergy.com NASDAQ: NBL Compensation aligned with shareholder interests to drive superior returns Long-term Incentive Plan (LTIP) LTIP represents approximately 70% of total…
  31. March 2020 Investor Handout – Noble Energy Partners – slide 31
    Environmental, Social, and Governance www.nblenergy.com NASDAQ: NBL Sustainable development living out our values Commitment to Environmental Stewardship Metric Tons CO2e/MBoe Greenhouse Gas Emissions Intensity Enhanced design and…
  32. March 2020 Investor Handout – Noble Energy Partners – slide 32
    Noble Energy Board of Directors www.nblenergy.com NASDAQ: NBL Proxy Disclosure Director Skills and Disclosure Proxy Outlined Relevant Skills and Diverse Attributes 2019 Proxy Statement Also Reported for NBL Director Nominees on Average…
  33. March 2020 Investor Handout – Noble Energy Partners – slide 33
    www.nblenergy.com NASDAQ: NBL Sustainability and Governance Board Sustainability and Corporate Responsibility Committee Sets overall sustainability direction, approves relevant policies, standards and processes, and monitors and…
  34. March 2020 Investor Handout – Noble Energy Partners – slide 34
    Why Invest in NBL www.nblenergy.com NASDAQ: NBL Diversified, low-cost producer with moderate growth and sustainable FCF(1) Competitively-Advantaged Portfolio of High-Quality Assets Deep inventory of low-cost discovered resources…
  35. March 2020 Investor Handout – Noble Energy Partners – slide 35
    www.nblenergy.com NASDAQ: NBL Appendix 35
  36. March 2020 Investor Handout – Noble Energy Partners – slide 36
    2020 Guidance www.nblenergy.com NASDAQ: NBL Full-Year and First Quarter Crude Oil and Natural Gas Total First Quarter 2020 Guidance Natural Gas FY 2020 Ancitipated Condensate Liquids Equivalent (MMcf/d) Sales Volumes LOW HIGH Sales…
  37. March 2020 Investor Handout – Noble Energy Partners – slide 37
    www.nblenergy.com NASDAQ: NBL Defined Terms Terms Definition Free Cash Flow (FCF) Upstream operating cash flow before working capital changes plus NBLX distribution to Noble Energy less Upstream organic capital Asset-level Free…
  38. March 2020 Investor Handout – Noble Energy Partners – slide 38
    Investor Relations Contacts Brad Whitmarsh Kim Hendrix 281.943.1670 281.943.2197 brad.whitmarshnblenergy.com kim.hendrixnblenergy.com Visit us on the Investor Relations Homepage at www.nblenergy.com

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