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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

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

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

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