Noble Energy, Inc., an independent energy company, engages in the exploration and production of crude oil, natural gas and natural gas liquids (NGLs) worldwide. The company has operations in seven core areas: the DJ Basin (onshore US); the Marcellus Shale (onshore US); Eagle Ford Shale (onshore US); Permian Basin (onshore US); the deepwater Gulf of Mexico (offshore US); offshore West Africa; and offshore Eastern Mediterranean. Reserves The company’s total proved reserves included 1,421 MMBoe (million barrels oil equivalent), as of December 31, 2015. Crude Oil and Natural Gas Properties and Activities The company searches for crude oil and natural gas properties onshore and offshore, and seeks to acquire exploration rights and conducts exploration activities in various areas of interest. These activities include geophysical and geological evaluation, analysis of commercial, regulatory and political risk and exploratory drilling, where appropriate. The company’s properties consist primarily of interests in developed and undeveloped crude oil and natural gas leases and concessions. The company also owns natural gas processing plants and natural gas gathering, and other crude oil and natural gas-related pipeline systems. These assets are primarily used in the processing and transportation of its crude oil, natural gas and NGL production. Exploration Activities The company primarily focuses on organic growth from exploration and development drilling, concentrating on basins or plays where the company has strategic competitive advantages, emanating from proprietary seismic data and operational expertise. The company has had substantial exploration success in the deepwater Gulf of Mexico, the Douala Basin offshore West Africa and the Levant Basin offshore Eastern Mediterranean, resulting in a portfolio of major development projects. In 2015, the company conducted exploration activities in domestic and international locations including the deepwater Gulf of Mexico, offshore West Africa and offshore the Falkland Islands. Appraisal, Development and Production Activities The company’s discoveries and strategic acquisitions provide the company with various appraisal, development, and production opportunities. In 2014, the company continued to make significant progress on its ongoing onshore U.S. and other major development projects. Acquisition and Divestiture Activities The company maintains an ongoing portfolio management program. Accordingly, the company engages in acquisitions of additional crude oil or natural gas properties and related assets through either direct acquisitions of the assets or acquisitions of entities owning the assets. The company might also periodically divest non-core, non-strategic assets. The United States DJ Basin: The company’s position in the core area extends approximately 396,000 net acres. Marcellus Shale: The company has a 50-50 joint development agreement with CONSOL Energy, Inc. (CONSOL) in approximately 700,000 gross acres in southwest Pennsylvania and northwest west Virginia. The company operates the wet gas (natural gas containing more liquid hydrocarbons) development area in Majorsville, West Virginia and Southwest Pennsylvania, and Moundsville, Shirley and Oxford, West Virginia, while CONSOL primarily operates in the dry gas (natural gas containing less liquid hydrocarbons) development area. The company’s joint development agreement with CONSOL provides for a multi-year drilling and development plan. During 2015, the joint venture drilled a total of 89 wells. The company drilled 41 of these wells with an average lateral length of 8,000 feet. CONE Gathering : The company and CONSOL also operate CONE Gathering LLC (CONE Gathering), which constructs, owns and operates midstream infrastructure servicing its joint production, and is the general partner controlling interest in CONE Midstream Partners (CONE Midstream). Eagle Ford Shale and Permian Basin In 2015, the company completed the Rosetta Merger, adding the Eagle Ford Shale and Permian Basin to its core areas (approximately 104,000 net acres total). During 2015, the company drilled 10 o
noble energy inc (NBL:New York)
1001 Noble Energy Way
Houston, TX 77070
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