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Noble Energy oil and gas exploration summary

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23 October 2018

Noble Energy oil and gas exploration summary

Report summary

Noble Energy has transformed itself through a series of acquisitions and divestments. It has historically used exploration as its primary engine of growth, but acquisitions have catapulted Noble into a leading Permian player. While conventional exploration is taking a back seat in terms of activity, its role is to grow the company through high-impact drilling to attain major new developments. Over the past decade, Noble has opened frontier plays and enjoyed a period of outstanding success with wildcat drilling, particularly in the Eastern Mediterranean. Commercialisation of the giant gas resources here are moving forward. We currently calculate full-cycle value creation of over US$1 billion from conventional exploration in 2008-2017. Meanwhile, rapid exploitation of acquired Delaware basin acreage pushes value creation from organic unconventionals close to US$4 billion. Full details are provided in our report, and all data and analysis can be downloaded in excel and pdf format.

Table of contents

  • Executive summary
    • Upstream strategy
    • Exploration outlook
    • Other Noble Energy research
    • Evolution of exploration strategy
  • Investment and costs
    • Well data
  • Reserves and resources
  • Production
    • Giant volumes discovered at low cost
    • Higher-impact exploration brings greater complexity
    • Progress in realising value from the giant gas finds

Tables and charts

This report includes 24 images and tables including:

  • Basins drilled and all conventional & unconventional discoveries 2008-2017
  • Ten year performance summary
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Discoveries (2008 to 2017)
  • Reserves and resources: Table 2
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production from new field discoveries, organic unconventionals and as a proportion of all future production
  • Full-cycle economics
  • SWOT grid
  • Net active exploration acreage by water depth
  • Net active conventional exploration acreage by country
  • Gross conventional exploration & appraisal wells by basin and sector
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Full cycle value creation by year, including unconventionals
  • Exploration returns by year, including unconventionals
  • Costs and development value by reserves category
  • Exploration returns by water depth

What's included

This report contains:

  • Document

    Noble Energy oil and gas exploration summary

    PDF 1.08 MB