Noble Energy Announces Increase In Leviathan Resource Estimate

        Noble Energy Announces Increase In Leviathan Resource Estimate

PR Newswire

HOUSTON, March 6, 2013

HOUSTON, March 6, 2013 /PRNewswire/ -- Noble Energy, Inc. (NYSE: NBL) today
announced results from its second Leviathan appraisal well located in the
Rachel license offshore Israel. The Leviathan #4 appraisal well was drilled
to a total depth of 16,992 feet and encountered 454 net feet of natural gas
pay in multiple intervals, thethickest net pay of any well drilled to date at
Leviathan. Reservoir quality and the field-wide gas/water contact were
confirmed at the well location and240 feet of corewere recovered. These
results have enhanced the Company'sunderstanding of the reservoir, which has
led to an increase in the estimated recoverable gross mean resources of the
field to 18 trillion cubic feet (Tcf) with a range^(1) of 15 to 21 Tcf.

Charles D. Davidson, Noble Energy's Chairman and CEO, commented, "The
successful Leviathan #4 well has provided us with additional information to
improve our knowledge of this enormous resource. Our teams are working with
our partners and the Israeli government towards sanction of a domestic project
at Leviathan this year."

Following operations at Leviathan #4 and pending partner approval, the Ensco
5006 rig will be relocated to the Karish prospect in the Alon C license
offshore Israel. The Karish prospect has a pre-drill gross mean resource
estimate of 3.0 Tcf with a range^(1) of 2.3 to 3.6 Tcf and is expected to
reach total depth in the second quarter.

The negotiations between the partners inLeviathan and Woodside Petroleum Ltd.
(ASX: WPL) are ongoing. The parties remain committed to the execution of the
farmout agreement supporting the development of the Leviathan resources.

Noble Energy operates Leviathan with a 39.66 percent working interest. Other
interest owners in the well are Delek Drilling and Avner Oil Exploration with
22.67 percent each and Ratio Oil Exploration with the remaining 15 percent.

Noble Energy operates Karish with a 47.06 percent working interest. Other
interest owners in the well are Delek Drilling and Avner Oil Exploration with
26.47 percent each.

(1) Range of resource estimate is based on 75^th and 25^th percentile
probabilities.

Noble Energy is a leading independent energy company engaged in worldwide oil
and gas exploration and production. The Company has core operations onshore in
the U.S., primarily in the DJ Basin and Marcellus Shale, in the deepwater Gulf
of Mexico, offshore Eastern Mediterranean, and offshore West Africa. Noble
Energy is listed on the New York Stock Exchange and is traded under the ticker
symbol NBL. Further information is available at www.nobleenergyinc.com.

This news release contains certain "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Words such as "anticipated," "intends,"
"indicates," "suggests," "possibility," "believes," "expects," "intends,"
"will," "should," "may," and similar expressions may be used to identify
forward-looking statements. Forward-looking statements are not statements of
historical fact and reflect Noble Energy's current views about future events.
They include planned development activities, business strategy and other plans
and objectives for future operations. No assurances can be given that the
forward-looking statements contained in this news release will occur as
projected and actual results may differ materially from those projected.
Forward-looking statements are based on current expectations, estimates and
assumptions that involve a number of risks and uncertainties that could cause
actual results to differ materially from those projected. These risks include,
without limitation, difficulties or delays in finalizing definitive documents
governing the transaction described in this news release, government
approvals, regulations or other actions, the volatility in commodity prices
for crude oil and natural gas, exploration and development risks, drilling and
operating risks, the presence or recoverability of estimated reserves,
environmental risks, competition, the ability of management to execute its
plans to meet its goals and other risks inherent in Noble Energy's business
that are discussed in its most recent annual report on Form 10-K and in other
reports on file with the Securities and Exchange Commission. These reports are
also available from Noble Energy's offices or website
http://www.nobleenergyinc.com. Forward-looking statements are based on the
estimates and opinions of management at the time the statements are made.
Noble Energy does not assume any obligation to update forward-looking
statements should circumstances or management's estimates or opinions change.

The Securities and Exchange Commission requires oil and gas companies, in
their filings with the SEC, to disclose proved reserves that a company has
demonstrated by actual production or conclusive formation tests to be
economically and legally producible under existing economic and operating
conditions. The SEC permits the optional disclosure of probable and possible
reserves, however, we have not disclosed the Company's probable and possible
reserves in our filings with the SEC. We use certain terms in this news
release, such as "gross mean resource estimate". These estimates are by their
nature more speculative than estimates of proved, probable and possible
reserves and accordingly are subject to substantially greater risk of being
actually realized. The SEC guidelines strictly prohibit us from including
these estimates in filings with the SEC. Investors are urged to consider
closely the disclosures and risk factors in our most recent annual report on
Form 10-K and in other reports on file with the SEC, available from Noble
Energy's offices or website, http://www.nobleenergyinc.com.

SOURCE Noble Energy

Website: http://www.nobleenergyinc.com
Contact: David Larson, +1-281-872-3125, dlarson@nobleenergyinc.com or Eric
Schneider, CFA, +1-281-872-2640, eschneider@nobleenergyinc.com, or Media
Inquiries, Communications and Government Relations, +1-281-876-8873,
media@nobleenergyinc.com