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Noble Energy Announces Letter Of Intent For Leviathan Export

         Noble Energy Announces Letter Of Intent For Leviathan Export

Agreement to Provide Substantial Natural Gas to BG LNG Facility

PR Newswire

HOUSTON, June 30, 2014

HOUSTON, June 30, 2014 /PRNewswire/ -- Noble Energy, Inc. (NYSE: NBL) today
announced the execution of a non-binding Letter of Intent (LOI) between the
Leviathan field partners and BG International Limited (BG) for the supply of
natural gas from the Leviathan field, offshore Israel, to BG's existing
natural gas liquefaction (LNG) facilities in Egypt. The LOI contemplates a
total gross sales quantity of up to 3.75 trillion cubic feet (Tcf) of natural
gas over a 15-year period, or the equivalent of approximately 700 million
cubic feet per day over the term. Delivery of the natural gas to BG is
expected at the outlet of the Leviathan floating, production, storage, and
offloading vessel, with planned connection to the LNG facilities by way of
subsea pipeline.

Keith Elliott, Noble Energy's Senior Vice President, Eastern Mediterranean,
commented, "The LOI for the export of natural gas from Leviathan is a very
positive development for the project and continues to evidence the strong
demand for our discovered resources. Phase 1 of the Leviathan project is
designed to provide significant quantities of natural gas to Israel and
regional markets. This transaction, in combination with regional cooperation,
will also provide access for Eastern Mediterranean gas into global markets.
Negotiations with other potential customers for Leviathan natural gas are
progressing, and I anticipate additional agreements to be executed this year
in support of the development of the first phase of Leviathan."

A final gas purchase and sales agreement is to be negotiated and will be
subject to the receipt of regulatory approvals in Israel and Egypt.

Noble Energy operates Leviathan with a 39.66 percent working interest. Other
interest owners are Delek Drilling with 22.67 percent, Avner Oil Exploration
with 22.67 percent, and Ratio Oil Exploration (1992) Limited Partnership with
the remaining 15 percent. The Leviathan field has an estimated 19 Tcf of
discovered natural gas resources.

Noble Energy is a leading independent energy company engaged in worldwide oil
and natural 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 federal securities law. Words such as "anticipates," "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 estimates of oil and natural gas reserves
and resources, estimates of future production, assumptions regarding future
oil and natural gas pricing, planned drilling activity, future results of
operations, projected cash flow and liquidity, 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, the volatility in commodity prices for crude oil and
natural gas, the presence or recoverability of estimated reserves, the ability
to replace reserves, environmental risks, drilling and operating risks,
exploration and development risks, competition, government regulation or other
actions, 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 "discovered natural gas resources," which 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: Investor Contacts: David Larson, (281) 872-3125,
dlarson@nobleenergyinc.com, Brad Whitmarsh, (281) 943-1670,
bwhitmarsh@nobleenergyinc.com; Media Contact: Reba Reid, (281) 876-8873,
rreid@nobleenergyinc.com
 
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