UBS Global Oil and Gas David L. Stover, President and COO May 2014
Noble Energy Execution delivering a unique future Outstanding Growth Agenda Production expected to more than double by 2018 Cash flow to increase 1 B per year Returns to reach record levels Diversified Portfolio Provides…
Key Outcomes by 2018 Delivering superior operational and financial performance Net Production Proved Reserves MBoe/d BBoe 800 3 2.9 629 600 2 400 1 200 0 0 2013 2014 2018 2013 2017 Discretionary Cash Flow Return on…
A Closer Look at 2014 Substantial growth in core areas Production Outlook 302 310 MBoe/d 18% Year Over Year Increase, Adjusting for Sales and Exchange Led by DJ Basin, Marcellus Shale and Israel Preparing and Investing for Future…
DJ Basin 2014 Activity Creating and accelerating value Production Up 28%, Adjusting for the Asset Exchange Northern East Pony Strong Well Performance and Colorado Lower Well Costs Basin Wide Downspacing (24 - 32 wells per…
IDP Area Downspace Plans DJ Basin Downspacing Program Wells Ranch 3 tests, 80 wells Maximizing value through optimal spacing plan East Pony 6 tests, 35 wells Greeley Crescent 2 tests, 12 wells Confirmed Minimum 16 Wells Mustang 1 test,…
DJ Basin Extended Reach Lateral Program Now represents more than 30% of total wells planned ERLs Significantly Enhance Per Well Returns and NPV Long Lateral Well Count Increased More Than 100% Progressing the Development of New IDPs…
Marcellus Shale 2014 Activity Rapidly evolving core area development Accelerating Development 100 operated wet gas and 70 dry gas wells Lateral lengths on operated wells to average over 7,000 ft. Allegheny Airport Production up…
Marcellus Operational Excellence Tremendous value added in short period of time Per Well Value Improvements Wet Gas Area Historical* Today Future BT NPV10 (Wet Gas) MM Laterals 5,000 7,000 7,000 - 10,000 8 Well Cost 7.2 MM 8.0 MM…
Marcellus Performance Upside Potential to materially increase resources and type curves Mcf/Lateral Cum. Production (Normalized) Positive Results from Reduced Stage Ft. on RSCS Wells and Offsets 100 and Cluster Spacing (RSCS) 80…
U.S. Onshore N.E. Nevada Large-scale organic exploration opportunity NBL Operated with WI 100% Wilson Legend Project Area 3 NBL Acreage Area Marys River 372,000 gross acres, 66% fee 3D Surveys Area Designation Great Basin Play…
Deepwater Gulf of Mexico Recent discoveries driving substantial growth outlook MBoe/d Net Production Proven Track Record of Exploration 45 Success Leading-edge technology with disciplined processes 16% CAGR Production and Cash Flow…
Big Bend Development Substantial upside to initial base development NBL Operated with 54% WI Gross Resources of 30 - 65 MMBoe Single Well Subsea Tie-back With First Oil Late 2015 18 mile subsea tie-back Peak rate 22,000 Boe/d gross,…
Deepwater Gulf of Mexico Katmai Prospect New play for lower Miocene with running room potential Green Canyon 40 Offset Well with Oil Shows WI 50%, NRI 41% Well Summary Water depth: 2,100 ft. Total planned depth: 26,300 ft.…
West Africa Leveraging expertise and experience in Africa Unique Approach to Creating Value Liquids and gas monetization with LPG, LNG and Methanol Two Major Projects Brought Online in Last Two Years Leveraging Infrastructure for…
Eastern Mediterranean World-class discoveries with world-class opportunities Approximately 40 Tcf Gross Resources Discovered Over 19 Tcf available for export markets Outstanding Operational Performance from Tamar Averaging 750…
Tamar Field Supplying growing domestic and regional markets Outstanding Operational Performance Near 100% facility uptime Current deliverability capacity of 1 Bcf/d Tamar Averaged 750 MMcf/d since startup 36% WI Cyprus Dalit 200…
Leviathan Development Continued momentum for monetization of 19 Tcf of gas Export Policy Approved Late 2013 Leviathan FLNG Leviathan Finalized Agreement with Israel FPSO Fixed Anti-Trust Authority Platform Received a 30-Year…
2014 - 2015 Exploration Drilling Calendar Testing material opportunities in core and frontier areas Spud date 3D acquisition start date 19