Noble Energy creates long-term value through a focused and diversified portfolio. A diverse portfolio of assets allows for optimal allocation of capital, rapid response to events, and minimizing risks in an ever-changing world. Exploration, innovative thinking, an agile enterprise, and a focus on superior execution create real differential value. The success of the company’s exploration program is driven by a relentless pursuit of excellence through disciplined processes, peer reviews, and innovative thinking. Significant discoveries in West Africa, the Eastern Mediterranean, and deepwater Gulf of Mexico along with major assets in the Denver (DJ) Basin Niobrara and the Marcellus unconventional horizontal plays provide a broad lineup of major development projects that will drive double-digit growth for years to come. Noble Energy has intently prepared for success, and the company is delivering on its plans with technical expertise and thorough processes. To ensure the financial strength to fund a bestin- class exploration program, as well as the major project developments, Noble Energy has established a strong balance sheet that is designed to maintain high liquidity so that commodity cycles can be weathered while maintaining our investment-grade rating from the rating agencies. Finally, this is all built on a foundation of organizational strength and culture for action.

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