This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Noble Energy's CEO Presents At Credit Suisse Energy Summit (Transcript)

So let me just jump into our program, and I’ll have a few slides here at the beginning that will talk about our strategies, a bit of an overview on where we’re going. And then I want to get into the various core areas in our business and certainly leave plenty of time for questions.

We are in interesting times. It’s interesting to see as the environment changes, the number of companies that are having to adjust strategies to reposition themselves to fit. But I guess what I would say here is I’m not here to talk about a change strategy. We believe the strategy that we put in place a number of years ago at Noble Energy is one that is very appropriate for the current environment.

It was a strategy that came about after we closed on the acquisition of Patina Oil & Gas. And what we said at that time was we wanted to move to a diversified portfolio. We wanted to develop and de-risk, we want to de-risk our development program and we wanted to move the exploration program to something that was much more material. We wanted to get away from exploration which prior to that was basically trying to deliver us near-term production. And in my view, that is not the intent of an exploration program.

The intent of an exploration program is to position the company for the future, put material legacy assets in the portfolio that will be with you for a long time. We wanted to be financially disciplined from every aspect and we wanted to build an organization that was capable of best-in-class execution. So that’s been our strategy.

During a few years after that, we’re willing to sacrifice near-term growth. Offsetting that was building the portfolio for long-term growth. But I would say that we felt this strategy played out very well. It worked for us. And we are not here to change it. So let’s just talk about some of the results and how we see the company going forward in the future.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs