Noble Energy Inc.
Noble Energy Inc.
News Article | May 2, 2017
Noble Energy Inc., Houston, has agreed to sell all of its upstream assets in northern West Virginia and southern Pennsylvania to an undisclosed buyer for $1.225 billion.
News Article | April 27, 2017
The stock of Anadarko Petroleum Corp. is getting hammered today after announcing that "in an abundance of caution" it's shutting in 3,000 vertical wells after an explosion and fire killed two people at a home near one of its wells in northeast Colorado. It expects the wells to remain that way for two to four weeks while its employees inspect and test their equipment with a focus on housing and commercial developments that are close to its infrastructure. The company said the wells represent 13,000 net barrels of oil equivalent per day, or about 2% of its production. While analysts are worried that the stoppage will hurt Anadarko's second quarter volumes, they seem to be more concerned about potential backlash resulting from the incident, including from state regulators. Seaport Global Securities Inc. notes that the oil and gas industry had to contend with ballot initiatives in 2014 and 2016 that aimed to severely limit oil and gas development in the state. "While the industry prevailed in both cases, last week's incident may have the potential to alter public perception or at least put that thought in minds of investors," the firm said. Of course Anadarko isn't the only company operating in the Denver-Julesburg Basin, where the incident occurred, which could lead to negative consequences for other companies as well. Seaport said other companies with the most exposure in the area include Noble Energy Inc., PDC Energy Inc., Extraction Oil & Gas Inc., SRC Energy Inc., Whiting Petroleum Corp. and Carrizo Oil & Gas Inc. Tudor, Pickering, Holt & Co.'s list includes Noble, PDC, Extraction, SRC and Whiting but also Bill Barrett Corp. and Bonanza Creek Energy Inc. Raymond James singles out Noble and SRC in particular, the latter of which it's rated a strong buy. Raymond James has Anadarko at market perform while TPH has it at a buy.
News Article | April 27, 2017
HOUSTON--(BUSINESS WIRE)--Noble Midstream Partners LP (NYSE: NBLX) (“Noble Midstream” or the “Partnership”) today announced that the Board of Directors of its general partner, Noble Midstream GP LLC, declared a cash distribution of $0.4108 per unit for the first quarter 2017. This distribution represents a 4.7% increase over the fourth quarter 2016 distribution of $0.3925 per unit. The first quarter 2017 distribution will be payable on May 15, 2017 to unitholders of record as of May 8, 2017. Noble Midstream Partners LP is a growth-oriented master limited partnership formed by Noble Energy, Inc., to own, operate, develop and acquire domestic midstream infrastructure assets. Noble Midstream currently provides crude oil, natural gas, and water-related midstream services in the DJ Basin in Colorado and the Delaware Basin in Texas. For more information, please visit www.nblmidstream.com. This release serves as a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b) that 100% of the Partnership's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.
News Article | April 24, 2017
Houston, April 24, 2017 (GLOBE NEWSWIRE) -- Noble Energy, Inc. (NYSE: NBL) today announced that its Board of Directors has declared a quarterly cash dividend of 10 cents per common share payable on May 22, 2017, to the shareholders of record at the close of business on May 8, 2017. Noble Energy (NYSE: NBL) is an independent oil and natural gas exploration and production company with a diversified high-quality portfolio of both U.S. unconventional and global offshore conventional assets spanning three continents. Founded more than 80 years ago, the company is committed to safely and responsibly delivering our purpose: Energizing the World, Bettering People’s Lives®. For more information, visit www.nblenergy.com.
News Article | April 20, 2017
NEW YORK--(BUSINESS WIRE)--Q1 2017 global upstream oil and gas M&A transaction value was $61 billion, the strongest first quarter in the past ten years and almost half the $130 billion in 2016, according to oil and gas information provider 1Derrick. US M&A deal activity for the quarter remained strong at $23 billion, at par with the prior two quarters. The $23 billion included 20 deals above $100 million, 5 of which were over $1 billion. Fourteen of the top twenty US deals were transacted in the Permian Basin, including the three largest. ExxonMobil acquired Delaware Basin assets in New Mexico from the Bass brothers for $5.6 billion, Noble Energy announced the $3.2 billion purchase of Delaware Basin focused Clayton Williams, and Parsley Energy acquired $2.8 billion in acreage in Midland Basin from private equity (PE) backed Double Eagle Energy. For deals valued over $100 million in Permian, 9 were in Delaware Basin versus 5 in Midland Basin. The metrics for undeveloped acreage (adjusted for the value of production) in the Delaware Basin touched a high of $35,000/Acre in Marathon’s $700 million acquisition of Black Mountain’s acreage. The acreage metric for deals focused on Reeves county ranged $28,000 – $32,000 per Acre during the quarter. Midland basin acreage saw a high of $38,000/Acre in the Parsley-Double Eagle deal. The acreage metrics were admittedly high, but did not cross the peaks of $46,000/Acre in the RSP Permian-Silver Hill deal ($2.4 billion, Oct-2016) in the Delaware Basin and $58,000/Acre in the QEP-RK Petroleum deal ($600 million, Jun-2016) in the Midland basin. PE backed companies were involved in half of the US top 20 deals, monetizing assets in the Permian and buying into the Eagle Ford Shale. Significant PE divestitures include Post Oak Energy Capital exiting Double Eagle and BC Operating; Riverstone Holdings exiting Carrier Energy and Trail Ridge Energy Partners II. On the buy side, Blackstone together with Sanchez, KKR backed Venado and Warburg Pincus backed Hawkwood Energy bought into Eagle Ford assets. “Permian deals continued to dominate the US M&A market, reaching a new quarterly record at $17 billion in deal value. Buyers were clearly scrambling to get their hands on what they could in the best tight oil play in the world before all opportunities got taken up” commented Ajit Thomas, Managing Director, 1Derrick. Outside the US, Canadian transactions accounted for $25 billion, or 65%, of the $39 billion in international activity, driven by two mega oil sands transactions. ConocoPhillips divested oil sands and Deep Basin gas assets to Cenovus for $13.3 billion and Shell sold bitumen projects to Canadian Natural Resources for $8.5 billion. Three North Sea transactions were among the top ten deals, including Shell’s $3 billion sale of UK properties to Chrysaor, backed by Harbour and EIG Global, and ExxonMobil’s $ 1 billion divestment of operated Norwegian Continental Shelf fields to HitecVision backed Point Resources. “Private Equity became active. Internationally deals crossed the finishing line with transaction structures that included payments contingent on milestones and oil prices and kept some decommissioning liabilities with the sellers.” Said Mangesh Hirve, COO of 1Derrick. Other significant transactions were in Africa. ExxonMobil acquired 25% working interest in Area-4, Mozambique from Eni and Shell divested Gabon assets to Carlyle Group backed Assala Energy. Tullow divested interests in Lake Albert project, Uganda to China’s CNOOC and French Major Total. 1Derrick/Derrick Petroleum Services (www.1derrick.com) is an independent oil and gas research firm with offices in Houston, New York, London, Singapore and Bangalore. For more information on its industry leading databases and reports on M&A, business development strategy, new ventures, and exploration, please contact Ajit Thomas at Ajit.Thomas@1Derrick.com or 1.646.284.8661.
News Article | April 25, 2017
Houston, April 25, 2017 (GLOBE NEWSWIRE) -- Noble Energy, Inc. (NYSE: NBL) ("Noble Energy" or "the Company") announced that, following the overwhelming approval by the stockholders of Clayton Williams Energy, Inc. (“Clayton Williams Energy”) of the acquisition of Clayton Williams Energy by Noble Energy, the transaction closed and became effective immediately after market close on April 24, 2017. In conjunction with the closing, Clayton Williams Energy became a wholly owned subsidiary of Noble Energy under the name NBL Permian LLC. Acquired assets include 71,000 highly contiguous net acres in the core of the Southern Delaware Basin adjacent to Noble Energy’s original Reeves county holdings in Texas, an additional 100,000 net acres in other areas of the Permian Basin, and more than 300 miles of oil, natural gas, and produced water gathering pipelines. Production on the assets totals approximately 10 thousand barrels of oil equivalent per day (MBoe/d). David L. Stover, Noble Energy's Chairman, President and CEO, stated, “We are pleased to close the transaction and appreciate the strong support of the stockholders of Clayton Williams Energy. Our plan to rapidly increase development of these highly prolific Delaware Basin assets will be a major contributor to Noble Energy's leading U.S. onshore oil volume growth of nearly 30 percent annually through 2020. The scale and quality of these assets, combined with Noble Energy’s strong financial capacity and exceptional technical expertise, will drive significant cash flow growth and value creation for all our investors.” Strategic benefits of the acquisition for Noble Energy include: Activity and Recent Well Results for Clayton Williams Energy Rig activity on the acquired acreage is planned to accelerate from 1 rig currently to 2 rigs by the end of the second quarter 2017 and 3 by year-end 2017. Including the 3 rigs currently running on Noble Energy’s acreage, this will bring the Company’s total Delaware rigs to 6 entering 2018. Two recent Clayton Williams Energy Wolfcamp A Lower completions, the Lowe 26 2H and the South Williams 10-51 1H, both located on the northern part of the acreage, commenced production in 2017. The Lowe 26 2H, with a lateral length of 4,897 feet, was completed with approximately 2,900 pounds of proppant per lateral foot. Drilled to a lateral length of 4,477 feet, the South Williams 10-51 1H was completed with 3,100 pounds of proppant per lateral foot. When normalized to a 7,500 foot lateral, cumulative production for each of the wells is performing approximately 10 percent higher than the 1.0 million barrel of oil equivalent (MMBoe) EUR Wolfcamp A type curve utilized in Noble Energy’s acquisition assessment. Oil comprises 80 percent of the production stream. In addition to these two wells, Clayton Williams Energy recently commenced production on two new Delaware Basin wells on its acreage which are in the initial ramp up period. One well represents Clayton William Energy's first Wolfcamp C completion with a slickwater design. Outperformance versus the Wolfcamp A type curve on the previously announced Collier 34-51 1H (6,284 ft lateral) and the Geltemeyer 297 1H (4,737 ft lateral) on the southern part of the new acreage continues. At three months of cumulative production, the wells were performing between 20 and 30 percent above type curve. After seven months, the outperformance has increased to 30 to 40 percent, continuing to show flatter decline versus expectation. The Collier 34-51 1H and the Geltemeyer 297 1H produced over 250 and 170 thousand barrels of oil equivalent over the first seven months, respectively, with an average oil mix for the two wells of 80 percent. The vast majority of the Delaware Basin acres acquired has been dedicated for infield crude oil, natural gas and produced water gathering to the Blanco River development company, which is owned 75 percent by Noble Energy and 25 percent by Noble Midstream Partners LP (NYSE: NBLX). Additionally, infield gas gathering has been added to the existing crude oil and produced water dedication to the Blanco River development company on Noble Energy’s original 47,000 Delaware Basin acres. Noble Energy’s first central gathering facility within the Delaware Basin, operated by NBLX, is progressing to a mid-year start-up. Noble Energy is hosting its first quarter 2017 webcast and conference call on Tuesday, May 2, 2017 at 8:00 a.m., Central Time. Results will be released after market close on the previous day. Additional details regarding the Company's plans in the Delaware Basin will be discussed at that time. Noble Energy (NYSE: NBL) is an independent oil and natural gas exploration and production company with a diversified high-quality portfolio of both U.S. unconventional and global offshore conventional assets spanning three continents. Founded more than 80 years ago, the company is committed to safely and responsibly delivering our purpose: Energizing the World, Bettering People’s Lives®. For more information, visit . 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 and Clayton Williams' current views about future events. Such forward-looking statements include, but are not limited to, statements about the benefits of the proposed merger involving Noble Energy and Clayton Williams, including future financial and operating results, Noble Energy's and Clayton Williams' plans, objectives, expectations and intentions and other statements that are not historical facts, including estimates of oil and natural gas reserves, 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 risk that the businesses will not be integrated successfully, the risk that the cost savings and any other synergies from the transaction may not be fully realized or may take longer to realize than expected, disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers, the diversion of management time on merger related issues, 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 and Clayton Williams’ businesses that are discussed in Noble Energy’s and Clayton Williams’ most recent annual report on Form 10-K, respectively, and in other reports on file with the Securities and Exchange Commission. These reports are also available from Noble Energy’s offices or website, . 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, management’s estimates, or opinions change. The Securities and Exchange Commission (the “SEC”) 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 “net unrisked 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 Noble Energy’s and Clayton Williams’ most recent annual reports on Form 10-K and in other reports on file with the SEC, available from Noble Energy’s offices or website, .
News Article | May 25, 2017
As much of the oil industry battles with lower for longer oil prices, the digital oilfield is finally coming of age as early pioneers of digital technology push the boundaries of production efficiency With an estimated global value of $31 billion, the digital oilfield is the hotbed of innovation in oil & gas as the industry aims to optimize decision-making, eliminate downtime and achieve production excellence. Upstream Intelligence has organized a meeting of the both O&G and tech leaders to drive the industry forward and maximize production efficiency at the Data Driven Production Conference 2017 (June 6-7, Houston). Over 250 attendees are confirmed to attend, including operator delegations from Hess, Noble Energy, Pioneer, BP, BHP, Statoil, ConocoPhillips, Anadarko, XTO, ExxonMobil, Marathon Oil, Occidental, Chevron, Apache, Shell, Encana and many more. Tech heavyweights and digital innovators including Dell EMC, Schlumberger, GE, Siemens, Microsoft, Wood Group, Halliburton, eLynx Technologies, Hitachi, IoTium, WellAware, 3-Gig, Redhat and MAPR will be delivering case studies on how to achieve operational excellence from data. Join 250+ top-tier business leaders over two days to dive into the commercial challenges and huge opportunities arising as data-driven production goes mainstream. To secure your place at the #1 meeting point for oil & gas digital oilfield professionals, visit; http://www.upstreamintel.com/data/
News Article | May 8, 2017
Noble Energy Inc., Houston, has agreed to sell all of its upstream assets in northern West Virginia and southern Pennsylvania to an undisclosed buyer for $1.225 billion.
Agency: GTR | Branch: NERC | Program: | Phase: Research Grant | Award Amount: 100.15K | Year: 2011
Coccolithophores are single-celled, marine algae (phytoplankton), which produce elaborate calcite scales (coccoliths) that form a protective covering around their delicate cell walls. They are an important part of the modern marine ecosystem, but also have a long fossil record (nannofossils) stretching back 225 million years (Triassic). Both living and fossil coccolithophores provide valuable information about ocean environments and changing climate. The fossils also provide a simple and quick means of age-dating the rocks in which they are found. For these reasons, coccolithophores are of interest to a very wide range of scientists, including marine biologists, palaeoceanographers and geologists (stratigraphers). The effective use of coccolithophores is dependent upon the availability of up to date and reliable information concerning their classification (taxonomy - which species is which, and why?), their ecology (which species live where, when and why?) and their geological history (which species lived when and where?). However, this information is frequently difficult to find because it is dispersed throughout specialist publications. In order to widen access to this crucial information, we have started work on a web resource called Nannotax (www.nannotax.org) that we hope will become the online reference source for anyone needing to obtain basic to specialist information on coccolithophores and nannofossils. Our pilot version focused on the relatively recent, Neogene, fossil record (0-23 million years ago) and has already proved popular, registering 670,000 page views and 275 registered users. We now aim to build on this, and will add more species (the older fossil record, plus all the living species), add more types of data (age, ecology and, where appropriate, biology), expand the content (glossary, guides to identification and methods of study) and bring the site to the attention of those who will most benefit from it. The end-product Nannotax website will provide a complete listing of living and fossil coccolithophore and nannofossil taxa, with short descriptions, age data, multiple illustrations, bibliographic references and original descriptions. There will be identification keys and linked pages providing information on study methods. In parallel, we will provide hands-on training in the use and potential of the system, and respond to requests from those who have test-driven the system at workshops and conferences. We think that the development of this system is essential to the hydrocarbon industry and to academics and educators involved in nannoplankton research, training and learning. By removing the barriers to learning nannoplankton taxonomy, identifying specimens and obtaining accurate information about species, existing users will be enabled to expand their expertise, and we believe it will also attract a range of new users. To ensure that we are providing the right kind of information for this wide range of scientists, we have enlisted the support of project partners who represent international biologists, oceanographers, geologists and oil company stratigraphers, who will both provide us with data, and also review and comment upon our progress and product.
News Article | February 15, 2017
Noble Energy Inc., Houston, has set its organic capital expenditures for 2017 at $2.3-2.6 billion, compared with $1.3 billion in 2016.