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

Exploration and New Ventures

Noble Energy has a legacy of exploration success demonstrated by the three core areas created through exploration efforts and 2.7 BBoe of net resources discovered since 2007.  New Ventures teams actively evaluate frontier plays with sufficient size and running room to mature into additional core areas.  Successful plays would further enhance the Company's significant growth profile.  The Company utilizes a stage-gate decision process that analyzes, tests, and exits unsuccessful opportunities with limited capital investment while ensuring the ability to competitively monetize successful discoveries at industry leading cycle times.    

In Nevada, the Company is testing a tight oil play on a 350,000 net acre position.  Two 3D seismic surveys have been completed and their analysis will drive a phased vertical drilling program in 2013.  The play has a P75-P25 gross unrisked resource range of 190 – 1,400 MMBoe with a 55 percent chance of geologic success.  With positive drilling results, development drilling and oil production would commence in 2014.

Noble Energy has a 1.8 million acre gross position offshore Nicaragua with multiple oil prospects and leads.  The Paraiso prospect is scheduled to be drilled in 2013 and has a P75-P25 gross unrisked resource range of 210 to 1,220 MMBoe with a 25 percent chance of geologic success.  Development would likely be via FPSO with initial production targeted for 2018.

The Company's largest new venture play is its 35 percent interest in a 10 million gross acre position offshore Falkland Islands that represents a gross unrisked resource potential of 13 BBoe.  Acquisition of 3D seismic has begun and will last approximately five months.  Results from the recent Scotia exploration well will be integrated with the 3D seismic to determine future locations for a 2014 drill plan. 

The New Venture program, when combined with the ongoing exploration program, creates both near and long-term value for the Company.  By 2014, 25% of the Company's net production is expected to be from discoveries made in the last five years.  The current exploration prospect inventory is at the highest level in Company history.  During the next two years, exploration wells will test 7 BBoe gross unrisked resources plays.

6 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 17,265.99 +109.14 0.64%
S&P 500 2,011.36 +9.79 0.49%
NASDAQ 4,593.4250 +31.2360 0.68%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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