This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Noble Energy Announces Highlights Of 2012 Analyst Conference

Stocks in this article: NBL

By adopting a fully integrated approach utilizing leading edge exploration and reservoir technologies with its operational expertise, Noble Energy has continued to advance its reservoir understanding resulting in increased projected recoveries.  Tighter well spacing, multiple target zones, longer laterals and improved completions have increased estimated ultimate recoveries (EURs) and resulted in higher returns.    

Horizontal drilling has shifted the development focus to the oil rich window (approximately 520,000 net acres) away from the legacy Wattenberg gas window (approximately 120,000 net acres).  The oil rich window extends outside of the Greater Wattenberg Area (GWA) and into Northern Colorado where oil content is approximately 80 percent. 

Utilizing an average of nine rigs, the Company intends to drill approximately 300 horizontal wells in the DJ Basin in 2013, of which 20 percent will be extended reach laterals.  Current production is nearly 90 MBoe/d with 60 percent liquids and is expected to exit 2013 at over 110 MBoe/d. 

Marcellus

Since the establishment of the innovative Marcellus joint venture (JV) in September 2011, production has more than doubled to approximately 140 million cubic feet equivalent per day (MMcfe/d).  In the current environment, Noble Energy and its partner are focused on accelerating the development of the wet gas areas while maintaining a lower level of activity in the dry gas areas.  Better than forecasted well performance has resulted in normalized type curves increasing by an average of 28 percent over the acquisition type curves.  This higher EUR forecast, combined with optimized field development, has increased the total resource estimate by 41 percent to 10 trillion cubic feet equivalent (Tcfe) net.  Net production is expected to grow at a five-year CAGR of 55 percent, exceeding 800 MMcfe/d in 2017.

To further improve performance, the JV is integrating sub-surface analysis with production results to optimize well placement and stimulation design.  Operational tests such as tighter control of lateral well steering within the best Marcellus reservoir interval and shorter staging for hydraulic fractures are underway.  Noble Energy is sharing best practices across the JV operations with a focus on continuous improvement.  The JV is targeting increased reserves per well and a 20 percent reduction in well costs through these efforts. 

2 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs