Overview

Noble Energy’s high-quality portfolio is distinguished by its diversity, exploration component and sizeable international holdings. Each asset fills an important role in a portfolio that balances lower-risk development projects with high-potential exploration activities. With an asset mix that includes U.S. onshore, deepwater Gulf of Mexico, and international opportunities in both oil and natural gas, we have many options that allow us to employ our knowledge, replicate our successes and create value for many years to come.  

Our onshore assets in the U.S. deliver steady, consistent and predictable results. Focused on continued drilling enhancements, current activity is targeting liquid-rich and emerging opportunities. In early 2010, the Company enhanced its onshore position with a bolt-on acquisition to its significant Wattenberg asset. Driven by exploration, activities in the deepwater Gulf of Mexico focus on significant opportunities where projects can be a source of medium and long-term growth for the Company. With core positions in Equatorial Guinea and Israel, our international business is a source of low-cost, long-lived production that does not require large amounts of maintenance capital.

Since 2007, we have discovered resources of approximately 750 million barrels of oil equivalent, net to Noble Energy, from our exploration portfolio, with the majority not yet booked as proved reserves. These resources are expected to be booked over the coming years as our major development projects are sanctioned and brought to production. 

In addition, we have built an inventory of over four billion barrels of oil equivalent of further exploration upside that has the potential to deliver long-term growth for our Company. The majority of the opportunities build on the three key exploration areas where substantial success has already been achieved: the deepwater Gulf of Mexico, West Africa, and the Eastern Mediterranean.